8×8, Inc. (NYSE:EGHT – Get Rating) CFO Samuel C. Wilson sold 5,541 shares of the business’s stock in a transaction that occurred on Friday, September 16th. The shares were sold at an average price of $4.31, for a total transaction of $23,881.71. Following the completion of the sale, the chief financial officer now directly owns 570,509 shares in the company, valued at $2,458,893.79. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
8X8 Trading Down 6.1 %
Shares of NYSE:EGHT opened at $4.00 on Wednesday. 8×8, Inc. has a 52 week low of $3.98 and a 52 week high of $25.17. The company’s 50 day moving average is $4.88 and its two-hundred day moving average is $5.49. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 3.70. The company has a market cap of $479.86 million, a PE ratio of -2.92 and a beta of 1.23.
8X8 (NYSE:EGHT – Get Rating) last announced its quarterly earnings data on Wednesday, July 27th. The technology company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.13. 8X8 had a negative net margin of 23.25% and a negative return on equity of 73.61%. The company had revenue of $187.62 million for the quarter, compared to the consensus estimate of $186.54 million. Equities analysts predict that 8×8, Inc. will post -0.7 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on the stock. Morgan Stanley reduced their price target on shares of 8X8 from $11.00 to $6.50 and set an “equal weight” rating on the stock in a research note on Thursday, July 14th. Oppenheimer downgraded shares of 8X8 from an “outperform” rating to a “market perform” rating in a research note on Friday, August 5th. Bank of America raised shares of 8X8 from a “neutral” rating to a “buy” rating in a research note on Monday, August 8th. MKM Partners began coverage on shares of 8X8 in a research note on Thursday, August 4th. They set a “neutral” rating and a $5.50 target price on the stock. Finally, William Blair reaffirmed an “outperform” rating on shares of 8X8 in a research note on Thursday, July 28th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $9.00.
8X8 Company Profile
8×8, Inc provides voice, video, chat, contact center, and enterprise-class application programmable interface (API) Software-as-a-Service solutions for small and mid-size businesses, mid-market and larger enterprises, government agencies, and other organizations worldwide. The company offers unified communications, team collaboration, video conferencing, contact center, data and analytics, communication APIs, and other services.
- Get a free copy of the StockNews.com research report on 8X8 (EGHT)
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