8X8 (NASDAQ:EGHT) Announces Earnings Results

8X8 (NASDAQ:EGHT) announced its earnings results on Tuesday. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.02 by $0.04, Zacks reports. 8X8 had a positive return on equity of 11.38% and a negative net margin of 2.96%. 8X8 updated its FY 2026 guidance to 0.310-0.330 EPS and its Q3 2026 guidance to 0.080-0.090 EPS.

8X8 Stock Performance

EGHT stock opened at $1.77 on Wednesday. 8X8 has a 1-year low of $1.52 and a 1-year high of $3.52. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 2.56. The firm has a market cap of $241.37 million, a PE ratio of -11.06, a P/E/G ratio of 2.13 and a beta of 1.89. The business’s 50-day moving average price is $2.01 and its two-hundred day moving average price is $1.91.

Analyst Ratings Changes

Several brokerages recently issued reports on EGHT. Rosenblatt Securities reiterated a “buy” rating and set a $2.50 price target on shares of 8X8 in a research report on Wednesday. Wall Street Zen upgraded shares of 8X8 from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of 8X8 in a report on Wednesday, October 8th. Finally, Morgan Stanley set a $1.90 price objective on 8X8 in a research report on Friday, August 29th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, 8X8 presently has a consensus rating of “Reduce” and a consensus price target of $2.49.

Hedge Funds Weigh In On 8X8

Several institutional investors have recently modified their holdings of the business. Man Group plc increased its stake in 8X8 by 35.9% during the 2nd quarter. Man Group plc now owns 102,950 shares of the company’s stock worth $202,000 after purchasing an additional 27,192 shares in the last quarter. Boothbay Fund Management LLC acquired a new position in shares of 8X8 in the second quarter valued at approximately $121,000. Bridgeway Capital Management LLC boosted its holdings in shares of 8X8 by 150.0% in the second quarter. Bridgeway Capital Management LLC now owns 125,000 shares of the company’s stock valued at $245,000 after buying an additional 75,000 shares during the period. Brevan Howard Capital Management LP increased its position in shares of 8X8 by 229.5% during the second quarter. Brevan Howard Capital Management LP now owns 128,753 shares of the company’s stock worth $252,000 after acquiring an additional 89,672 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of 8X8 by 10.2% during the second quarter. Bank of America Corp DE now owns 4,727,644 shares of the company’s stock worth $9,266,000 after acquiring an additional 436,909 shares during the period. Institutional investors own 93.99% of the company’s stock.

8X8 Company Profile

8×8, Inc engages in the provision of enterprise communication solutions. It offers solutions to the business services, education, financial services, government, healthcare, and manufacturing industries. The company was founded in February 1987 and is headquartered in Campbell, CA.