Rosenblatt Securities reissued their neutral rating on shares of 8X8 (NASDAQ:EGHT) in a report published on Wednesday morning, BenzingaRatingsTable reports. The brokerage currently has a $27.00 target price on the technology company’s stock, up from their previous target price of $22.50.

EGHT has been the subject of a number of other reports. Northland Securities reissued a buy rating on shares of Titan Medical in a report on Thursday, July 18th. Dougherty & Co cut 8X8 from a buy rating to a neutral rating and set a $21.95 target price for the company. in a report on Wednesday, May 15th. Stephens reissued a buy rating and issued a $27.00 target price on shares of 8X8 in a report on Tuesday, May 14th. Needham & Company LLC increased their target price on 8X8 from $25.00 to $28.00 and gave the stock a buy rating in a report on Thursday, July 18th. Finally, Zacks Investment Research raised Golub Capital BDC from a hold rating to a buy rating and set a $20.00 target price for the company in a report on Tuesday, July 16th. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. 8X8 has an average rating of Hold and an average price target of $25.30.

8X8 stock traded up $0.51 during trading hours on Wednesday, hitting $26.27. The stock had a trading volume of 908,640 shares, compared to its average volume of 1,271,828. The company’s 50-day simple moving average is $24.62. 8X8 has a fifty-two week low of $15.13 and a fifty-two week high of $26.35.

8X8 (NASDAQ:EGHT) last issued its earnings results on Tuesday, May 14th. The technology company reported ($0.09) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.01). The firm had revenue of $93.80 million during the quarter, compared to analyst estimates of $92.98 million. During the same period in the previous year, the firm posted ($0.03) earnings per share. The company’s quarterly revenue was up 18.3% compared to the same quarter last year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. New York State Common Retirement Fund grew its position in 8X8 by 6.1% during the 1st quarter. New York State Common Retirement Fund now owns 95,700 shares of the technology company’s stock worth $1,933,000 after acquiring an additional 5,500 shares during the last quarter. State of Alaska Department of Revenue grew its position in 8X8 by 1.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 32,778 shares of the technology company’s stock worth $789,000 after acquiring an additional 537 shares during the last quarter. Legal & General Group Plc grew its position in 8X8 by 2.3% during the 4th quarter. Legal & General Group Plc now owns 226,256 shares of the technology company’s stock worth $4,078,000 after acquiring an additional 5,101 shares during the last quarter. Principal Financial Group Inc. boosted its position in 8X8 by 1.0% in the 4th quarter. Principal Financial Group Inc. now owns 774,282 shares of the technology company’s stock valued at $13,968,000 after buying an additional 7,557 shares during the last quarter. Finally, Norges Bank bought a new position in 8X8 in the 4th quarter valued at $14,469,000. Institutional investors and hedge funds own 71.56% of the company’s stock.

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.

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Analyst Recommendations for 8X8 (NASDAQ:EGHT)

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