Rosenblatt Securities Issues Pessimistic Forecast for 8X8 (NASDAQ:EGHT) Stock Price

8X8 (NASDAQ:EGHT - Free Report) had its price objective cut by Rosenblatt Securities from $3.50 to $3.30 in a report published on Monday,Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts have also recently issued reports about the stock. StockNews.com raised shares of 8X8 from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, January 28th. Barclays increased their price target on shares of 8X8 from $2.00 to $2.50 and gave the stock an "equal weight" rating in a research note on Tuesday, November 5th. Weiss Ratings reiterated a "sell (d-)" rating on shares of 8X8 in a research note on Saturday, January 18th. Wells Fargo & Company raised their price objective on shares of 8X8 from $1.50 to $2.00 and gave the company an "underweight" rating in a research note on Tuesday, November 5th. Finally, Wedbush upgraded shares of 8X8 to a "hold" rating in a research note on Thursday, October 17th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, 8X8 has an average rating of "Hold" and a consensus price target of $2.99.

8X8 Stock Performance

EGHT traded up $0.15 during midday trading on Monday, reaching $2.84. The company had a trading volume of 1,310,981 shares, compared to its average volume of 888,716. The business has a 50-day moving average price of $2.80 and a two-hundred day moving average price of $2.44. 8X8 has a 12-month low of $1.51 and a 12-month high of $3.41. The company has a debt-to-equity ratio of 3.26, a quick ratio of 1.18 and a current ratio of 1.18. The stock has a market cap of $371.07 million, a PE ratio of -5.16, a P/E/G ratio of 24.05 and a beta of 1.66.

8X8 (NASDAQ:EGHT - Get Free Report) last posted its earnings results on Tuesday, February 4th. The company reported $0.04 earnings per share for the quarter, topping analysts' consensus estimates of $0.01 by $0.03. 8X8 had a negative net margin of 9.68% and a negative return on equity of 6.00%. On average, sell-side analysts expect that 8X8 will post 0.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On 8X8

Several large investors have recently bought and sold shares of EGHT. Pallas Capital Advisors LLC purchased a new stake in shares of 8X8 during the fourth quarter valued at $29,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of 8X8 during the third quarter worth about $30,000. Virtu Financial LLC acquired a new position in 8X8 during the 3rd quarter valued at approximately $36,000. Sei Investments Co. purchased a new position in 8X8 in the 2nd quarter worth $44,000. Finally, Intech Investment Management LLC acquired a new stake in shares of 8X8 during the third quarter worth about $49,000. Institutional investors own 93.99% of the company's stock.

About 8X8

8x8, Inc engages in the provision of enterprise communication solutions. It offers solutions to the business services, education, financial services, government, healthcare, and manufacturing industries. The company was founded in February 1987 and is headquartered in Campbell, CA.