8X8 (EGHT) Upgraded to “Buy” at BidaskClub

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BidaskClub upgraded shares of 8X8 (NASDAQ:EGHT) from a hold rating to a buy rating in a report published on Thursday.

Other analysts have also issued research reports about the company. Stephens assumed coverage on 8X8 in a research report on Thursday, January 3rd. They set an overweight rating on the stock. Rosenblatt Securities assumed coverage on 8X8 in a research report on Thursday, December 20th. They set a buy rating and a $24.00 price objective on the stock. Needham & Company LLC cut their price objective on 8X8 from $23.00 to $22.00 and set a buy rating on the stock in a research report on Wednesday, January 30th. Guggenheim assumed coverage on 8X8 in a research report on Monday. They set a neutral rating and a $20.00 price objective on the stock. Finally, Zacks Investment Research raised 8X8 from a sell rating to a hold rating in a research report on Friday, January 18th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $22.72.

NASDAQ:EGHT traded down $0.19 during trading hours on Thursday, reaching $20.21. 351,386 shares of the stock were exchanged, compared to its average volume of 1,238,526. 8X8 has a twelve month low of $15.13 and a twelve month high of $23.50.

8X8 (NASDAQ:EGHT) last released its quarterly earnings results on Tuesday, January 29th. The technology company reported ($0.06) EPS for the quarter, hitting analysts’ consensus estimates of ($0.06). The firm had revenue of $89.91 million for the quarter, compared to analyst estimates of $88.57 million.

A number of large investors have recently bought and sold shares of EGHT. Oregon Public Employees Retirement Fund purchased a new position in 8X8 in the fourth quarter valued at $36,000. Bank of Montreal Can increased its holdings in 8X8 by 21.9% in the fourth quarter. Bank of Montreal Can now owns 3,857 shares of the technology company’s stock valued at $69,000 after buying an additional 692 shares during the last quarter. LS Investment Advisors LLC increased its holdings in 8X8 by 108.0% in the fourth quarter. LS Investment Advisors LLC now owns 5,586 shares of the technology company’s stock valued at $101,000 after buying an additional 2,901 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in 8X8 by 31.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,407 shares of the technology company’s stock valued at $116,000 after buying an additional 1,527 shares during the last quarter. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC increased its holdings in 8X8 by 21.1% in the fourth quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 10,423 shares of the technology company’s stock valued at $188,000 after buying an additional 1,813 shares during the last quarter. 71.56% of the stock is currently owned by hedge funds and other 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.

See Also: Consumer Price Index (CPI)

Analyst Recommendations for 8X8 (NASDAQ:EGHT)

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