Shares of 8×8, Inc. (NASDAQ:EGHT) have earned a consensus recommendation of “Buy” from the twelve research firms that are covering the company, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $23.56.
EGHT has been the subject of several recent analyst reports. Dougherty & Co cut shares of 8X8 from a “buy” rating to a “neutral” rating and set a $21.95 price objective for the company. in a research note on Wednesday. BidaskClub cut shares of 8X8 from a “buy” rating to a “hold” rating in a research note on Tuesday, March 5th. Rosenblatt Securities reaffirmed a “buy” rating and set a $22.50 price objective on shares of 8X8 in a research note on Monday, March 25th. Bank of America boosted their price objective on shares of 8X8 from $23.00 to $25.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Stephens reaffirmed a “buy” rating and set a $27.00 price objective on shares of 8X8 in a research note on Tuesday.
In other 8X8 news, EVP Dejan Deklich sold 36,136 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $22.06, for a total value of $797,160.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 4.40% of the stock is owned by insiders.
NASDAQ:EGHT traded up $0.26 during mid-day trading on Friday, hitting $23.64. 1,330,421 shares of the stock traded hands, compared to its average volume of 1,310,123. 8X8 has a 12-month low of $15.13 and a 12-month high of $24.39.
8X8 (NASDAQ:EGHT) last issued its quarterly earnings data on Tuesday, May 14th. The technology company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.01). The company had revenue of $93.80 million for the quarter, compared to the consensus estimate of $92.98 million. The company’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.03) earnings per share.
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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