8x8, Inc. (NASDAQ:EGHT - Get Free Report) CAO Suzy M. Seandel sold 7,333 shares of 8X8 stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $2.08, for a total transaction of $15,252.64. Following the sale, the chief accounting officer now owns 319,798 shares in the company, valued at $665,179.84. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
8X8 Stock Down 5.7 %
NASDAQ:EGHT opened at $1.97 on Friday. The company has a debt-to-equity ratio of 3.93, a quick ratio of 1.50 and a current ratio of 1.50. The company has a market capitalization of $246.99 million, a price-to-earnings ratio of -3.58 and a beta of 1.56. 8x8, Inc. has a one year low of $1.51 and a one year high of $3.92. The stock has a 50-day simple moving average of $1.88 and a 200 day simple moving average of $2.29.
8X8 (NASDAQ:EGHT - Get Free Report) last issued its earnings results on Wednesday, August 7th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.01). The firm had revenue of $172.80 million during the quarter, compared to analyst estimates of $178.90 million. 8X8 had a negative return on equity of 6.51% and a negative net margin of 8.65%. 8X8's revenue was down 5.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.04) EPS. Sell-side analysts predict that 8x8, Inc. will post -0.08 EPS for the current fiscal year.
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Institutional investors have recently added to or reduced their stakes in the business. Sei Investments Co. bought a new position in shares of 8X8 in the 2nd quarter worth about $44,000. XTX Topco Ltd bought a new stake in shares of 8X8 during the 2nd quarter valued at about $49,000. Sanctuary Advisors LLC acquired a new stake in 8X8 during the second quarter worth about $77,000. Williams & Novak LLC bought a new position in 8X8 in the second quarter worth about $77,000. Finally, Dynamic Advisor Solutions LLC lifted its holdings in 8X8 by 83.1% in the second quarter. Dynamic Advisor Solutions LLC now owns 34,520 shares of the company's stock worth $77,000 after acquiring an additional 15,665 shares during the last quarter. Institutional investors own 93.99% of the company's stock.
Analyst Ratings Changes
A number of research firms recently weighed in on EGHT. Wells Fargo & Company lowered their price target on shares of 8X8 from $2.00 to $1.50 and set an "underweight" rating for the company in a report on Friday, June 21st. Needham & Company LLC lowered their target price on 8X8 from $3.50 to $3.00 and set a "buy" rating for the company in a research note on Friday, August 9th. Wedbush upgraded 8X8 to a "hold" rating in a research note on Thursday. Rosenblatt Securities reissued a "buy" rating and issued a $4.00 price target on shares of 8X8 in a report on Thursday, August 22nd. Finally, Barclays dropped their price objective on 8X8 from $3.00 to $2.00 and set an "equal weight" rating on the stock in a report on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $2.83.
Check Out Our Latest Stock Analysis on 8X8
About 8X8
(
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8x8, Inc provides voice, video, chat, contact center, and enterprise-class application programmable interface (API) Software-as-a-Service solutions for small business, mid-market, enterprise customers, government agencies, and other organizations worldwide. It offers 8x8 Work, a self-contained end-to-end united communications solution that delivers voice services, secure video meetings, and unified messaging, including direct messages, public and private team messaging rooms, and peer-to-peer short and multimedia messaging; 8x8 Contact Center, a cloud-based contact center as-a-service solution; and 8x8 Engage, an artificial intelligence-powered solution that equips customer-facing employees outside the contact center with the tools and capabilities to deliver successful customer engagements.
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