8×8 Inc. (EGHT) Stock Price Up 3.2%
8×8 Inc. (NASDAQ:EGHT) rose 3.2% during mid-day trading on Thursday . The stock traded as high as $13.39 and last traded at $13.35, with a volume of 333,220 shares. The stock had previously closed at $12.94.
A number of research analysts have weighed in on the stock. William Blair reissued a “buy” rating on shares of 8×8 in a research note on Sunday, May 22nd. Bank of America Corp. reissued a “buy” rating on shares of 8×8 in a research note on Sunday, May 22nd. Deutsche Bank AG reissued a “buy” rating on shares of 8×8 in a research note on Sunday, May 22nd. Summit Research reissued a “buy” rating and issued a $16.00 target price on shares of 8×8 in a research note on Sunday, May 22nd. Finally, Dougherty & Co raised their target price on shares of 8×8 from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, May 20th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. 8×8 currently has a consensus rating of “Buy” and an average target price of $14.41.
The stock’s market cap is $1.20 billion. The stock’s 50 day moving average price is $14.27 and its 200 day moving average price is $12.29.
8×8 (NASDAQ:EGHT) last issued its earnings results on Thursday, July 21st. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.03. The company had revenue of $60 million for the quarter, compared to analyst estimates of $57.97 million. On average, equities research analysts expect that 8×8 Inc. will post $0.20 EPS for the current year.
In other 8×8 news, CTO Bryan R. Martin sold 43,142 shares of the company’s stock in a transaction dated Tuesday, May 24th. The shares were sold at an average price of $12.45, for a total transaction of $537,117.90. Following the transaction, the chief technology officer now directly owns 1,087,033 shares in the company, valued at $13,533,560.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
An institutional investor recently raised its position in 8×8 stock. Rhumbline Advisers increased its stake in 8×8 Inc. (NASDAQ:EGHT) by 5.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 124,054 shares of the company’s stock after buying an additional 5,905 shares during the period. Rhumbline Advisers owned approximately 0.14% of 8×8 worth $1,420,000 at the end of the most recent reporting period.
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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