8×8 Inc. (NASDAQ:EGHT) shares dropped 1.8% during mid-day trading on Tuesday . The stock traded as low as $13.46 and last traded at $13.52, with a volume of 355,458 shares. The stock had previously closed at $13.77.

EGHT has been the topic of several analyst reports. Bank of America Corp. reiterated a “buy” rating on shares of 8×8 in a research note on Sunday, May 22nd. Summit Research reiterated a “buy” rating and issued a $16.00 target price on shares of 8×8 in a research note on Sunday, May 22nd. William Blair reissued a “buy” rating on shares of 8×8 in a report on Sunday, May 22nd. Deutsche Bank AG reissued a “buy” rating on shares of 8×8 in a report on Sunday, May 22nd. Finally, Dougherty & Co boosted their price objective on shares of 8×8 from $14.00 to $15.00 and gave the company a “buy” rating in a report on Friday, May 20th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $14.41.

The company’s 50 day moving average price is $14.20 and its 200 day moving average price is $12.32. The firm’s market capitalization is $1.22 billion.

8×8 (NASDAQ:EGHT) last posted its earnings results on Thursday, July 21st. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. The business had revenue of $60 million for the quarter, compared to analysts’ expectations of $57.97 million. Equities analysts predict that 8×8 Inc. will post $0.20 EPS for the current year.

A hedge fund recently raised its stake in 8×8 stock. Rhumbline Advisers raised its position in shares of 8×8 Inc. (NASDAQ:EGHT) by 5.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 124,054 shares of the company’s stock after buying an additional 5,905 shares during the period. Rhumbline Advisers owned 0.14% of 8×8 worth $1,420,000 at the end of the most recent 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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