8×8, Inc. (EGHT) CEO Vikram Verma Acquires 5,730 Shares of Stock

8×8, Inc. (NASDAQ:EGHT) CEO Vikram Verma acquired 5,730 shares of the company’s stock in a transaction on Thursday, November 1st. The shares were bought at an average price of $17.09 per share, with a total value of $97,925.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

EGHT stock traded up $0.12 during midday trading on Friday, reaching $18.05. The stock had a trading volume of 14,061 shares, compared to its average volume of 892,888. 8×8, Inc. has a twelve month low of $12.76 and a twelve month high of $23.50.

8X8 (NASDAQ:EGHT) last announced its quarterly earnings data on Monday, October 29th. The technology company reported ($0.04) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.01. The firm had revenue of $85.70 million during the quarter, compared to analyst estimates of $84.26 million. 8X8 had a positive return on equity of 0.03% and a negative net margin of 2.56%. The company’s revenue was up 18.2% on a year-over-year basis. During the same period last year, the company earned $0.03 earnings per share. Equities analysts anticipate that 8×8, Inc. will post -0.12 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Strs Ohio boosted its holdings in 8X8 by 4.7% during the second quarter. Strs Ohio now owns 60,200 shares of the technology company’s stock worth $1,207,000 after buying an additional 2,700 shares during the last quarter. Legal & General Group Plc boosted its holdings in 8X8 by 1.6% during the first quarter. Legal & General Group Plc now owns 192,072 shares of the technology company’s stock worth $3,552,000 after buying an additional 3,091 shares during the last quarter. Bank of America Corp DE boosted its holdings in 8X8 by 2.2% during the second quarter. Bank of America Corp DE now owns 158,944 shares of the technology company’s stock worth $3,187,000 after buying an additional 3,486 shares during the last quarter. SG Americas Securities LLC boosted its holdings in 8X8 by 29.6% during the second quarter. SG Americas Securities LLC now owns 16,240 shares of the technology company’s stock worth $326,000 after buying an additional 3,713 shares during the last quarter. Finally, Xact Kapitalforvaltning AB boosted its holdings in 8X8 by 37.8% during the first quarter. Xact Kapitalforvaltning AB now owns 15,325 shares of the technology company’s stock worth $286,000 after buying an additional 4,200 shares during the last quarter. Hedge funds and other institutional investors own 71.56% of the company’s stock.

Several research analysts have issued reports on the company. Summit Insights reiterated a “hold” rating on shares of 8X8 in a research note on Tuesday. BidaskClub lowered 8X8 from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 20th. William Blair initiated coverage on 8X8 in a research note on Wednesday, October 10th. They issued an “outperform” rating for the company. Needham & Company LLC restated a “buy” rating and issued a $23.00 target price (down from $25.00) on shares of 8X8 in a research note on Tuesday. Finally, Stifel Nicolaus initiated coverage on 8X8 in a research note on Wednesday, July 11th. They issued a “buy” rating and a $25.00 target price for the company. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $23.00.

About 8X8

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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