8X8 (NASDAQ:EGHT) had its price target increased by Needham & Company LLC from $25.00 to $28.00 in a report issued on Thursday, The Fly reports. The firm currently has a buy rating on the technology company’s stock.
Other equities research analysts have also issued research reports about the company. Bank of America reiterated a buy rating on shares of Continental in a research note on Wednesday, May 15th. Dougherty & Co downgraded 8X8 from a buy rating to a neutral rating and set a $21.95 price target for the company. in a report on Wednesday, May 15th. Zacks Investment Research raised Golub Capital BDC from a hold rating to a buy rating and set a $20.00 price target for the company in a report on Tuesday, July 16th. Stephens reissued a buy rating and issued a $27.00 price target on shares of 8X8 in a report on Tuesday, May 14th. Finally, Rosenblatt Securities reissued a buy rating and issued a $105.00 price target on shares of RingCentral in a report on Monday, March 25th. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has an average rating of Hold and an average target price of $24.85.
Shares of NASDAQ:EGHT opened at $24.67 on Thursday. The stock’s 50-day moving average price is $24.45. 8X8 has a 12 month low of $15.13 and a 12 month high of $25.93.
8X8 (NASDAQ:EGHT) last announced its quarterly earnings results on Tuesday, May 14th. The technology company reported ($0.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.01). The business had revenue of $93.80 million during the quarter, compared to the consensus estimate of $92.98 million. During the same period in the previous year, the company earned ($0.03) EPS. 8X8’s revenue was up 18.3% compared to the same quarter last year.
Large investors have recently added to or reduced their stakes in the business. Buffington Mohr McNeal bought a new position in 8X8 during the 1st quarter worth approximately $28,000. Emancipation Management LLC bought a new position in 8X8 during the 4th quarter worth approximately $198,000. Financial Counselors Inc. bought a new position in 8X8 during the 1st quarter worth approximately $207,000. Amalgamated Bank bought a new position in 8X8 during the 4th quarter worth approximately $260,000. Finally, Everence Capital Management Inc. bought a new position in 8X8 during the 1st quarter worth approximately $286,000. 71.56% of the stock is currently owned by institutional investors.
8X8 Company Profile
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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