8X8 (NASDAQ:EGHT) Insider Sells $17,168.06 in Stock

8×8 Inc (NASDAQ:EGHT) insider Laurence Denny sold 9,433 shares of the firm’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $1.82, for a total transaction of $17,168.06. Following the transaction, the insider directly owned 604,281 shares of the company’s stock, valued at $1,099,791.42. The trade was a 1.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

8X8 Price Performance

Shares of 8X8 stock opened at $1.80 on Thursday. The firm has a market cap of $259.99 million, a P/E ratio of 45.01, a price-to-earnings-growth ratio of 1.26 and a beta of 1.84. The firm’s 50-day simple moving average is $1.97 and its 200-day simple moving average is $1.99. 8×8 Inc has a twelve month low of $1.57 and a twelve month high of $2.88. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.05 and a current ratio of 1.05.

8X8 (NASDAQ:EGHT) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.05. The firm had revenue of $190.17 million during the quarter, compared to analyst estimates of $182.47 million. 8X8 had a net margin of 0.64% and a return on equity of 28.72%. 8X8 has set its FY 2027 guidance at 0.330-0.380 EPS and its Q2 2027 guidance at 0.070-0.080 EPS. As a group, research analysts expect that 8×8 Inc will post 0.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on EGHT shares. B. Riley Financial reiterated a “buy” rating and issued a $3.25 price target (up from $3.00) on shares of 8X8 in a research report on Wednesday, August 5th. Rosenblatt Securities restated a “buy” rating and issued a $3.00 target price on shares of 8X8 in a research note on Thursday, September 10th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of 8X8 in a report on Tuesday, September 1st. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, 8X8 currently has a consensus rating of “Hold” and a consensus target price of $3.12.

Institutional Investors Weigh In On 8X8

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Squarepoint Ops LLC boosted its stake in 8X8 by 227.8% in the second quarter. Squarepoint Ops LLC now owns 846,965 shares of the company’s stock worth $1,448,000 after purchasing an additional 588,564 shares in the last quarter. Amundi acquired a new stake in shares of 8X8 in the second quarter valued at $43,000. Headlands Technologies LLC increased its stake in shares of 8X8 by 21.2% in the second quarter. Headlands Technologies LLC now owns 87,727 shares of the company’s stock valued at $150,000 after buying an additional 15,350 shares in the last quarter. Susquehanna Fundamental Investments LLC raised its holdings in shares of 8X8 by 43.3% in the second quarter. Susquehanna Fundamental Investments LLC now owns 158,845 shares of the company’s stock valued at $272,000 after buying an additional 47,971 shares during the last quarter. Finally, Two Sigma Securities LLC acquired a new position in 8X8 during the 2nd quarter worth about $89,000. 93.99% of the stock is owned by institutional investors and hedge funds.

8X8 Company Profile

8×8, Inc is a cloud communications and customer engagement company that provides voice, video, messaging, contact center and application programming interface (API) services through its integrated platform. Its offerings are designed to help businesses manage internal communications, customer interactions and digital workflows from the cloud.

The company’s product portfolio includes 8×8 Work, a unified communications solution for business calling, team messaging and meetings, and 8×8 Contact Center, which supports customer service operations across voice and digital channels.