8X8 (NASDAQ:EGHT) Director Sells 107,085 Shares

8×8 Inc (NASDAQ:EGHT) Director Andrew Burton sold 107,085 shares of 8X8 stock in a transaction on Friday, September 11th. The shares were sold at an average price of $1.81, for a total transaction of $193,823.85. Following the completion of the sale, the director directly owned 151,615 shares in the company, valued at $274,423.15. This represents a 41.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

8X8 Price Performance

NASDAQ:EGHT traded up $0.01 during trading hours on Monday, reaching $1.84. 1,389,359 shares of the company were exchanged, compared to its average volume of 1,704,732. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.83. The stock’s 50-day moving average is $1.98 and its 200-day moving average is $1.99. The firm has a market cap of $266.49 million, a PE ratio of 46.14, a price-to-earnings-growth ratio of 1.26 and a beta of 1.84. 8×8 Inc has a twelve month low of $1.57 and a twelve month high of $2.88.

8X8 (NASDAQ:EGHT) last announced its earnings results on Tuesday, August 4th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.05. The business had revenue of $190.17 million for the quarter, compared to analyst estimates of $182.47 million. 8X8 had a net margin of 0.64% and a return on equity of 28.72%. 8X8 has set its FY 2027 guidance at 0.330-0.380 EPS and its Q2 2027 guidance at 0.070-0.080 EPS. On average, sell-side analysts anticipate that 8×8 Inc will post 0.2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on EGHT shares. B. Riley Financial reiterated a “buy” rating and set a $3.25 price objective (up from $3.00) on shares of 8X8 in a research note on Wednesday, August 5th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $3.00 price target on shares of 8X8 in a research note on Thursday. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of 8X8 in a research report on Tuesday, September 1st. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $3.12.

Institutional Trading of 8X8

Several large investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in 8X8 during the second quarter worth about $20,624,000. Bank of America Corp DE acquired a new position in 8X8 during the 2nd quarter worth about $2,823,000. Algert Global LLC lifted its position in shares of 8X8 by 944.3% during the second quarter. Algert Global LLC now owns 1,284,026 shares of the company’s stock worth $2,196,000 after purchasing an additional 1,161,066 shares in the last quarter. S Squared Technology LLC purchased a new position in 8X8 in the 2nd quarter valued at approximately $1,597,544. Finally, Deutsche Bank AG acquired a new stake in shares of 8X8 in the second quarter valued at $1,237,000. Hedge funds and other institutional investors own 93.99% of the company’s stock.

8X8 Company Profile

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.