8×8 Inc. (NASDAQ:EGHT) saw an uptick in trading volume on Monday . 1,881,961 shares traded hands during mid-day trading, an increase of 109% from the previous session’s volume of 899,512 shares.The stock last traded at $13.99 and had previously closed at $13.75.

A number of brokerages recently weighed in on EGHT. Dougherty & Co lifted their price target on 8×8 from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, July 19th. Zacks Investment Research cut 8×8 from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 19th. B. Riley reissued a “neutral” rating and issued a $14.00 price target on shares of 8×8 in a research note on Wednesday, July 20th. Summit Redstone reissued a “buy” rating and issued a $17.00 price target on shares of 8×8 in a research note on Thursday, June 30th. Finally, Needham & Company LLC lifted their price target on 8×8 from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, July 22nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the company. 8×8 has a consensus rating of “Buy” and an average price target of $14.41.

The stock’s 50 day moving average is $14.43 and its 200 day moving average is $12.15. The stock’s market capitalization is $1.25 billion.

8×8 (NASDAQ:EGHT) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.03. The firm had revenue of $60 million for the quarter, compared to analyst estimates of $57.97 million. Equities research analysts anticipate that 8×8 Inc. will post $0.20 earnings per share for the current year.

In other news, CTO Bryan R. Martin sold 43,142 shares of the company’s stock in a transaction on Tuesday, May 24th. The stock was sold at an average price of $12.45, for a total transaction of $537,117.90. Following the transaction, the chief technology officer now owns 1,087,033 shares of the company’s stock, valued at $13,533,560.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Other large investors recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its stake in 8×8 by 5.4% in the fourth quarter. Principal Financial Group Inc. now owns 602,135 shares of the company’s stock worth $6,895,000 after buying an additional 31,036 shares in the last quarter. State of Wisconsin Investment Board increased its stake in 8×8 by 0.8% in the fourth quarter. State of Wisconsin Investment Board now owns 550,522 shares of the company’s stock worth $6,303,000 after buying an additional 4,501 shares in the last quarter. California Public Employees Retirement System increased its stake in 8×8 by 26.6% in the fourth quarter. California Public Employees Retirement System now owns 306,000 shares of the company’s stock worth $3,504,000 after buying an additional 64,200 shares in the last quarter. First Trust Advisors LP increased its stake in 8×8 by 41.4% in the fourth quarter. First Trust Advisors LP now owns 210,510 shares of the company’s stock worth $2,410,000 after buying an additional 61,608 shares in the last quarter. Finally, California State Teachers Retirement System increased its stake in 8×8 by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 163,377 shares of the company’s stock worth $1,871,000 after buying an additional 2,879 shares in the last quarter.

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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