8X8 (NASDAQ:EGHT) Updates Q2 2027 Earnings Guidance

8X8 (NASDAQ:EGHT) updated its second quarter 2027 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 0.070-0.080 for the period, compared to the consensus earnings per share estimate of 0.070. The company issued revenue guidance of $185.0 million-$190.0 million, compared to the consensus revenue estimate of $184.0 million. 8X8 also updated its FY 2027 guidance to 0.330-0.380 EPS.

Analysts Set New Price Targets

Several analysts have weighed in on EGHT shares. Weiss Ratings raised 8X8 from a “sell (e+)” rating to a “sell (d)” rating in a research report on Thursday, June 4th. Rosenblatt Securities lifted their price target on 8X8 from $2.75 to $3.00 and gave the company a “buy” rating in a research report on Wednesday, May 20th. Finally, Zacks Research lowered 8X8 from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 6th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $2.45.

8X8 Stock Performance

Shares of EGHT traded up $0.18 during mid-day trading on Tuesday, hitting $2.24. 2,189,408 shares of the company traded hands, compared to its average volume of 1,760,796. The stock has a market cap of $317.59 million, a price-to-earnings ratio of 112.06, a P/E/G ratio of 1.37 and a beta of 1.83. The stock has a 50-day moving average price of $1.90 and a two-hundred day moving average price of $2.01. 8X8 has a 1 year low of $1.57 and a 1 year high of $2.88. The company has a debt-to-equity ratio of 1.93, a quick ratio of 1.09 and a current ratio of 1.09.

Insider Activity at 8X8

In other 8X8 news, Director Elizabeth Harriet Theophille sold 20,207 shares of the firm’s stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $1.81, for a total value of $36,574.67. Following the transaction, the director directly owned 167,086 shares of the company’s stock, valued at approximately $302,425.66. This trade represents a 10.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.13% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of EGHT. Millennium Management LLC grew its position in shares of 8X8 by 158.7% during the 4th quarter. Millennium Management LLC now owns 47,377 shares of the company’s stock valued at $93,000 after acquiring an additional 29,060 shares during the period. IHT Wealth Management LLC raised its holdings in 8X8 by 25.0% in the 4th quarter. IHT Wealth Management LLC now owns 25,000 shares of the company’s stock worth $49,000 after purchasing an additional 5,000 shares during the period. Cetera Investment Advisers raised its holdings in 8X8 by 18.5% in the 4th quarter. Cetera Investment Advisers now owns 43,909 shares of the company’s stock worth $87,000 after purchasing an additional 6,859 shares during the period. Captrust Financial Advisors lifted its position in 8X8 by 18.2% during the fourth quarter. Captrust Financial Advisors now owns 28,162 shares of the company’s stock valued at $55,000 after purchasing an additional 4,334 shares in the last quarter. Finally, HRT Financial LP purchased a new position in 8X8 during the fourth quarter valued at $64,000. 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.