Shares of 8×8, Inc. (NASDAQ:EGHT) have been assigned an average rating of “Buy” from the fourteen brokerages that are presently covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $22.94.
A number of research analysts have recently issued reports on the stock. BidaskClub upgraded shares of 8X8 from a “hold” rating to a “buy” rating in a research note on Tuesday, February 12th. Needham & Company LLC dropped their price target on shares of 8X8 from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, January 30th. Zacks Investment Research lowered shares of 8X8 from a “hold” rating to a “sell” rating in a research note on Tuesday, January 8th. Rosenblatt Securities initiated coverage on shares of 8X8 in a research report on Thursday, December 20th. They set a “buy” rating and a $24.00 target price on the stock. Finally, Guggenheim initiated coverage on shares of 8X8 in a research report on Monday, March 11th. They set a “neutral” rating and a $20.00 target price on the stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC grew its position in 8X8 by 12.8% during the fourth quarter. Geode Capital Management LLC now owns 1,031,910 shares of the technology company’s stock worth $18,614,000 after buying an additional 117,337 shares during the period. Norges Bank purchased a new stake in shares of 8X8 in the fourth quarter valued at about $14,469,000. Amalgamated Bank purchased a new stake in shares of 8X8 in the fourth quarter valued at about $260,000. HRT Financial LLC purchased a new stake in shares of 8X8 in the fourth quarter valued at about $377,000. Finally, Emancipation Management LLC purchased a new stake in shares of 8X8 in the fourth quarter valued at about $198,000. Institutional investors own 71.56% of the company’s stock.
8X8 (NASDAQ:EGHT) last issued its quarterly earnings results on Tuesday, January 29th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.06). The firm had revenue of $89.91 million for the quarter, compared to analyst estimates of $88.57 million.
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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