8X8 (NASDAQ:EGHT) Earns Sell (D-) Rating from Weiss Ratings

8X8 (NASDAQ:EGHT - Get Free Report)'s stock had its "sell (d-)" rating reaffirmed by equities researchers at Weiss Ratings in a report released on Saturday,Weiss Ratings reports.

A number of other equities analysts have also weighed in on the stock. Morgan Stanley upped their target price on shares of 8X8 from $2.00 to $2.60 and gave the stock an "underweight" rating in a research report on Wednesday, December 18th. B. Riley reissued a "buy" rating and set a $4.00 price target (down previously from $7.00) on shares of 8X8 in a research report on Thursday, October 24th. Rosenblatt Securities reduced their target price on shares of 8X8 from $3.50 to $3.30 and set a "buy" rating for the company in a report on Monday. Mizuho lowered shares of 8X8 from a "neutral" rating to an "underperform" rating and decreased their price objective for the company from $2.75 to $2.50 in a research report on Friday, December 13th. Finally, Wells Fargo & Company upped their target price on 8X8 from $1.50 to $2.00 and gave the company an "underweight" rating in a research report on Tuesday, November 5th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $2.99.

8X8 Stock Down 3.2 %

8X8 stock traded down $0.09 on Friday, hitting $2.75. 1,535,800 shares of the stock traded hands, compared to its average volume of 914,584. 8X8 has a 1 year low of $1.51 and a 1 year high of $3.41. The business's fifty day simple moving average is $2.80 and its 200 day simple moving average is $2.45. The firm has a market cap of $359.32 million, a P/E ratio of -5.00, a price-to-earnings-growth ratio of 24.05 and a beta of 1.66. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 3.26.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Pallas Capital Advisors LLC purchased a new stake in shares of 8X8 in the 4th quarter valued at approximately $29,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of 8X8 in the 3rd quarter valued at approximately $30,000. Virtu Financial LLC acquired a new position in shares of 8X8 during the third quarter worth about $36,000. Sei Investments Co. purchased a new position in 8X8 in the second quarter worth $44,000. Finally, Intech Investment Management LLC purchased a new position in 8X8 in the third quarter valued at about $49,000. Institutional investors and hedge funds 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.