8X8 (EGHT) – Research Analysts’ Recent Ratings Changes

8X8 (NASDAQ: EGHT) has recently received a number of price target changes and ratings updates:

• 2/5/2025 – 8X8 had its price target raised by analysts at Barclays PLC from $2.50 to $3.00. They now have an “equal weight” rating on the stock.
• 2/5/2025 – 8X8 had its price target raised by analysts at Needham & Company LLC from $3.00 to $3.50. They now have a “buy” rating on the stock.
• 2/5/2025 – 8X8 was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
• 2/3/2025 – 8X8 had its price target lowered by analysts at Rosenblatt Securities from $3.50 to $3.30. They now have a “buy” rating on the stock.
• 2/1/2025 – 8X8 had its “sell (d-)” rating reaffirmed by analysts at Weiss Ratings.
• 1/28/2025 – 8X8 was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
• 1/18/2025 – 8X8 had its “sell (d-)” rating reaffirmed by analysts at Weiss Ratings.
• 12/18/2024 – 8X8 had its price target raised by analysts at Morgan Stanley from $2.00 to $2.60. They now have an “underweight” rating on the stock.
• 12/13/2024 – 8X8 was downgraded by analysts at Mizuho from a “neutral” rating to an “underperform” rating. They now have a $2.50 price target on the stock, down previously from $2.75.

8X8 Price Performance

NASDAQ EGHT traded down $0.19 on Friday, reaching $2.66. 426,971 shares of the company’s stock traded hands, compared to its average volume of 868,925. The stock has a market cap of $346.90 million, a PE ratio of -4.83, a P/E/G ratio of 24.05 and a beta of 1.66. 8×8, Inc. has a 12 month low of $1.51 and a 12 month high of $3.41. The stock has a 50-day simple moving average of $2.80 and a 200 day simple moving average of $2.45. The company has a debt-to-equity ratio of 3.26, a current ratio of 1.18 and a quick ratio of 1.18.

8X8 (NASDAQ:EGHT) last released its earnings results on Tuesday, February 4th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.03. 8X8 had a negative return on equity of 6.00% and a negative net margin of 9.68%. As a group, research analysts predict that 8×8, Inc. will post 0.01 earnings per share for the current year.

Hedge Funds Weigh In On 8X8

Hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its position in 8X8 by 10.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,484,108 shares of the company’s stock valued at $3,294,000 after acquiring an additional 145,606 shares in the last quarter. Sei Investments Co. bought a new stake in shares of 8X8 during the second quarter valued at approximately $44,000. Sanctuary Advisors LLC purchased a new stake in 8X8 in the second quarter worth $77,000. Creative Planning raised its holdings in 8X8 by 16.6% in the third quarter. Creative Planning now owns 38,245 shares of the company’s stock worth $78,000 after purchasing an additional 5,453 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in 8X8 during the third quarter valued at $30,000. 93.99% of the stock is owned by hedge funds and other institutional investors.

8×8, Inc engages in the provision of enterprise communication solutions. It offers solutions to the business services, education, financial services, government, healthcare, and manufacturing industries. The company was founded in February 1987 and is headquartered in Campbell, CA.