Rosenblatt Securities Reiterates “Neutral” Rating for 8X8 (NASDAQ:EGHT)
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.
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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