8X8 (NASDAQ:EGHT) Updates FY 2027 Earnings Guidance

8X8 (NASDAQ:EGHT) issued an update on its FY 2027 earnings guidance on Tuesday morning. The company provided EPS guidance of 0.330-0.380 for the period, compared to the consensus estimate of 0.330. The company issued revenue guidance of $745.0 million-$765.0 million, compared to the consensus revenue estimate of $737.6 million. 8X8 also updated its Q2 2027 guidance to 0.070-0.080 EPS.

Analysts Set New Price Targets

EGHT has been the subject of a number of analyst reports. Rosenblatt Securities raised their price target on shares of 8X8 from $2.75 to $3.00 and gave the stock a “buy” rating in a research note on Wednesday, May 20th. Zacks Research cut 8X8 from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Finally, Weiss Ratings upgraded 8X8 from a “sell (e+)” rating to a “sell (d)” rating in a research report on Thursday, June 4th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $2.45.

8X8 Price Performance

8X8 stock traded up $0.18 during trading hours on Tuesday, hitting $2.24. 2,189,408 shares of the stock were exchanged, compared to its average volume of 1,760,796. The stock has a market capitalization of $317.59 million, a P/E ratio of 112.06, a P/E/G ratio of 1.37 and a beta of 1.83. The business’s 50-day moving average is $1.90 and its two-hundred day moving average is $2.01. The company has a debt-to-equity ratio of 1.93, a quick ratio of 1.09 and a current ratio of 1.09. 8X8 has a 12 month low of $1.57 and a 12 month high of $2.88.

Insider Activity at 8X8

In related news, Director Elizabeth Harriet Theophille sold 20,207 shares of the stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $1.81, for a total transaction of $36,574.67. Following the sale, the director directly owned 167,086 shares in the company, valued at $302,425.66. This represents a 10.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.13% of the stock is owned by insiders.

Hedge Funds Weigh In On 8X8

A number of institutional investors and hedge funds have recently bought and sold shares of EGHT. Prelude Capital Management LLC bought a new position in shares of 8X8 in the third quarter valued at about $26,000. CIBC Bancorp USA Inc. bought a new stake in 8X8 during the 3rd quarter worth about $30,000. Schonfeld Strategic Advisors LLC acquired a new stake in 8X8 in the 3rd quarter valued at about $31,000. Abel Hall LLC acquired a new stake in 8X8 in the 4th quarter valued at about $33,000. Finally, Headlands Technologies LLC bought a new position in shares of 8X8 in the fourth quarter worth about $37,000. Institutional investors and hedge funds own 93.99% of the company’s stock.

About 8X8

8×8, Inc (NASDAQ: EGHT) is a global provider of cloud-based enterprise communications, collaboration and contact centre solutions. The company’s unified communications as a service (UCaaS) platform integrates voice, video, chat, SMS and contact-centre capabilities into a single, software-driven solution. By combining real-time analytics, team messaging and interoperability with third-party business applications, 8×8 aims to simplify communications infrastructure for organisations of all sizes.

Founded in 1987 and headquartered in Campbell, California, 8×8 pioneered hosted VoIP services for businesses in the late 1990s and went public on the NASDAQ in 1997.