8X8's (EGHT) Sell (D-) Rating Reiterated at Weiss Ratings

8X8 (NASDAQ:EGHT - Get Free Report)'s stock had its "sell (d-)" rating reiterated by research analysts at Weiss Ratings in a research report issued to clients and investors on Thursday,Weiss Ratings reports.

A number of other brokerages have also commented on EGHT. Morgan Stanley lowered their price objective on 8X8 from $2.60 to $1.90 and set an "underweight" rating on the stock in a report on Wednesday, April 16th. Barclays increased their price target on 8X8 from $2.50 to $3.00 and gave the company an "equal weight" rating in a report on Wednesday, February 5th. Needham & Company LLC boosted their price objective on shares of 8X8 from $3.00 to $3.50 and gave the stock a "buy" rating in a research note on Wednesday, February 5th. StockNews.com lowered shares of 8X8 from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, February 5th. Finally, Rosenblatt Securities dropped their target price on shares of 8X8 from $3.30 to $2.70 and set a "buy" rating on the stock in a report on Thursday. 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 company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $2.66.

8X8 Trading Up 6.1 %

NASDAQ:EGHT opened at $1.75 on Thursday. The company has a debt-to-equity ratio of 3.08, a quick ratio of 1.24 and a current ratio of 1.25. The company has a market capitalization of $230.46 million, a P/E ratio of -4.86, a P/E/G ratio of 6.08 and a beta of 1.81. The stock's 50 day moving average price is $2.10 and its 200 day moving average price is $2.48. 8X8 has a 52 week low of $1.51 and a 52 week high of $3.52.

8X8 (NASDAQ:EGHT - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.01 by $0.03. 8X8 had a negative net margin of 6.33% and a negative return on equity of 1.45%. On average, research analysts forecast that 8X8 will post 0.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Sylebra Capital Llc sold 100,000 shares of 8X8 stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $2.23, for a total transaction of $223,000.00. Following the sale, the insider now owns 14,289,476 shares of the company's stock, valued at approximately $31,865,531.48. This trade represents a 0.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Laurence Denny sold 10,000 shares of the company's stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $3.00, for a total value of $30,000.00. Following the completion of the transaction, the insider now owns 233,791 shares of the company's stock, valued at $701,373. The trade was a 4.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 263,678 shares of company stock worth $590,602 in the last ninety days. Insiders own 1.22% of the company's stock.

Institutional Trading of 8X8

Several institutional investors have recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership acquired a new stake in 8X8 during the fourth quarter valued at approximately $2,126,000. Renaissance Technologies LLC lifted its holdings in 8X8 by 1,101.0% during the 4th quarter. Renaissance Technologies LLC now owns 440,777 shares of the company's stock worth $1,177,000 after buying an additional 404,077 shares in the last quarter. Two Sigma Advisers LP increased its position in 8X8 by 39.2% in the fourth quarter. Two Sigma Advisers LP now owns 1,218,758 shares of the company's stock worth $3,254,000 after purchasing an additional 343,400 shares during the period. Two Sigma Investments LP raised its stake in shares of 8X8 by 49.2% during the fourth quarter. Two Sigma Investments LP now owns 1,014,048 shares of the company's stock worth $2,708,000 after buying an additional 334,348 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in 8X8 in the fourth quarter valued at about $702,000. 93.99% of the stock is currently owned by institutional investors and hedge funds.

8X8 Company Profile

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.

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