8×8 Inc (EGHT) Given Buy Rating at Robert W. Baird

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.

8×8 (NASDAQ:EGHT) last issued its earnings results on Thursday, October 26th. The technology company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.01. 8×8 had a negative net margin of 2.56% and a positive return on equity of 0.03%. The company had revenue of $72.48 million for the quarter, compared to analyst estimates of $71.65 million. During the same period in the prior year, the business posted $0.06 earnings per share. The firm’s revenue for the quarter was up 14.7% compared to the same quarter last year. equities analysts anticipate that 8×8 will post -0.12 EPS for the current fiscal year.

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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.

About 8×8

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.

Analyst Recommendations for 8x8 (NASDAQ:EGHT)

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