Shares of 8×8, Inc. (NASDAQ:EGHT) have received an average rating of “Buy” from the thirteen research firms that are currently covering the firm, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $23.29.

Several research firms have issued reports on EGHT. BidaskClub upgraded shares of 8X8 from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 10th. Zacks Investment Research upgraded shares of 8X8 from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 25th. Needham & Company LLC restated a “buy” rating and issued a $25.00 price target on shares of 8X8 in a research report on Friday, July 27th. B. Riley raised their price target on shares of 8X8 from $16.00 to $22.00 and gave the stock a “neutral” rating in a research report on Monday, July 30th. Finally, William Blair started coverage on shares of 8X8 in a research report on Wednesday, October 10th. They set an “outperform” rating on the stock.

In other news, SVP Darren J. Hakeman sold 8,000 shares of 8X8 stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $23.25, for a total transaction of $186,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ian Potter sold 1,690 shares of 8X8 stock in a transaction dated Monday, October 22nd. The shares were sold at an average price of $18.35, for a total transaction of $31,011.50. Following the sale, the director now owns 97,354 shares in the company, valued at $1,786,445.90. The disclosure for this sale can be found here. 4.40% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of the company. Wells Fargo & Company MN lifted its holdings in 8X8 by 13.9% during the 1st quarter. Wells Fargo & Company MN now owns 63,542 shares of the technology company’s stock valued at $1,185,000 after purchasing an additional 7,743 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in 8X8 by 1.1% during the 1st quarter. Principal Financial Group Inc. now owns 706,414 shares of the technology company’s stock valued at $13,175,000 after purchasing an additional 7,911 shares during the last quarter. Creative Planning lifted its holdings in 8X8 by 114.5% during the 2nd quarter. Creative Planning now owns 193,477 shares of the technology company’s stock valued at $3,879,000 after purchasing an additional 103,272 shares during the last quarter. First Trust Advisors LP lifted its holdings in 8X8 by 17.4% during the 2nd quarter. First Trust Advisors LP now owns 4,725,161 shares of the technology company’s stock valued at $94,739,000 after purchasing an additional 700,508 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS lifted its holdings in 8X8 by 4.6% during the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 1,683,930 shares of the technology company’s stock valued at $33,763,000 after purchasing an additional 74,735 shares during the last quarter. Institutional investors and hedge funds own 71.56% of the company’s stock.

NASDAQ EGHT opened at $18.60 on Friday. 8X8 has a 52-week low of $13.45 and a 52-week high of $23.50.

8X8 (NASDAQ:EGHT) last posted its quarterly earnings results on Monday, October 29th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.01. The company had revenue of $85.70 million during the quarter, compared to analyst estimates of $84.26 million. The business’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.03 earnings per share.

8X8 Company Profile

8×8, Inc provides cloud-based, enterprise-class software solutions. The Company’s solutions are delivered through Software as a Service (SaaS) business model. Its segments include Americas and Europe. Its software platform brings together cloud, mobile, collaboration, video and data science technologies.

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Analyst Recommendations for 8X8 (NASDAQ:EGHT)

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