8×8 Inc. (EGHT) Shares Down 1.8%
8×8 Inc. (NASDAQ:EGHT)’s share price traded down 1.8% on Tuesday . The company traded as low as $13.46 and last traded at $13.52, with a volume of 355,458 shares changing hands. The stock had previously closed at $13.77.
A number of equities analysts recently weighed in on the company. B. Riley reissued a “neutral” rating and set a $14.00 price objective on shares of 8×8 in a report on Wednesday, July 20th. Needham & Company LLC started coverage on 8×8 in a research report on Friday, June 3rd. They issued a “buy” rating and a $15.00 price objective on the stock. Zacks Investment Research upgraded 8×8 from a “sell” rating to a “hold” rating in a research report on Friday, August 5th. Summit Research reiterated a “buy” rating and issued a $16.00 price objective on shares of 8×8 in a research report on Sunday, May 22nd. Finally, Barclays PLC lifted their price objective on 8×8 from $12.00 to $13.00 and gave the stock an “overweight” rating in a research report on Friday, May 20th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $14.41.
The stock’s market capitalization is $1.21 billion. The company’s 50-day moving average price is $14.17 and its 200-day moving average price is $12.33.
8×8 (NASDAQ:EGHT) last issued its quarterly earnings data on Thursday, July 21st. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. The company had revenue of $60 million for the quarter, compared to analysts’ expectations of $57.97 million. On average, equities analysts expect that 8×8 Inc. will post $0.20 earnings per share for the current year.
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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