Robert W. Baird restated their buy rating on shares of 8×8 Inc (NASDAQ:EGHT) in a research note issued to investors on Friday. The firm currently has a $17.00 price target on the technology company’s stock.
EGHT has been the topic of several other reports. Zacks Investment Research upgraded shares of 8×8 from a sell rating to a hold rating in a research report on Tuesday, October 17th. B. Riley restated a neutral rating and set a $14.00 target price on shares of 8×8 in a research report on Saturday, July 29th. William Blair restated a hold rating on shares of 8×8 in a research report on Sunday, July 30th. Summit Redstone lowered shares of 8×8 from a buy rating to a hold rating in a research report on Friday, October 27th. Finally, Northland Securities set a $18.00 price target on shares of 8×8 and gave the company a buy rating in a research report on Friday, July 28th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $17.30.
Shares of 8×8 (NASDAQ:EGHT) traded up $0.30 on Friday, reaching $14.05. 657,975 shares of the company’s stock traded hands, compared to its average volume of 749,424. 8×8 has a one year low of $10.30 and a one year high of $16.80.
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Several institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. lifted its stake in shares of 8×8 by 120,530.1% during the first quarter. BlackRock Inc. now owns 10,695,065 shares of the technology company’s stock valued at $163,100,000 after buying an additional 10,686,199 shares during the period. Vanguard Group Inc. lifted its stake in shares of 8×8 by 4.5% during the second quarter. Vanguard Group Inc. now owns 4,973,283 shares of the technology company’s stock valued at $72,362,000 after buying an additional 213,257 shares during the period. First Trust Advisors LP lifted its stake in shares of 8×8 by 28.5% during the second quarter. First Trust Advisors LP now owns 3,535,356 shares of the technology company’s stock valued at $51,439,000 after buying an additional 784,916 shares during the period. Hunt Lane Capital LP purchased a new position in shares of 8×8 during the second quarter valued at approximately $36,375,000. Finally, State Street Corp lifted its stake in shares of 8×8 by 4.8% during the second quarter. State Street Corp now owns 2,226,356 shares of the technology company’s stock valued at $32,388,000 after buying an additional 101,136 shares during the period. 67.15% of the stock is currently owned by institutional investors and hedge funds.
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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