Weiss Ratings Reiterates Sell (D-) Rating for 8X8 (NASDAQ:EGHT)

8X8 (NASDAQ:EGHT - Get Free Report)'s stock had its "sell (d-)" rating restated by equities researchers at Weiss Ratings in a research note issued to investors on Tuesday,Weiss Ratings reports.

Several other equities analysts have also recently weighed in on EGHT. Needham & Company LLC lifted their price target on 8X8 from $3.00 to $3.50 and gave the company a "buy" rating in a research report on Wednesday, February 5th. Barclays upped their price target on 8X8 from $2.50 to $3.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 5th. StockNews.com cut shares of 8X8 from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, February 5th. Rosenblatt Securities lowered their target price on shares of 8X8 from $3.50 to $3.30 and set a "buy" rating on the stock in a research note on Monday, February 3rd. Finally, Mizuho lowered shares of 8X8 from a "neutral" rating to an "underperform" rating and reduced their price target for the company from $2.75 to $2.50 in a research report on Friday, December 13th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $2.99.

8X8 Stock Performance

Shares of EGHT traded down $0.01 during mid-day trading on Tuesday, hitting $1.64. The stock had a trading volume of 640,003 shares, compared to its average volume of 1,015,048. The company has a debt-to-equity ratio of 3.08, a current ratio of 1.25 and a quick ratio of 1.24. The firm has a market cap of $215.98 million, a P/E ratio of -4.56, a PEG ratio of 6.08 and a beta of 1.81. 8X8 has a 52 week low of $1.51 and a 52 week high of $3.52. The business has a fifty day moving average price of $2.35 and a 200-day moving average price of $2.51.

8X8 (NASDAQ:EGHT - Get Free Report) last issued 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 6.33% and a negative return on equity of 1.45%. On average, equities research analysts expect that 8X8 will post 0.04 EPS for the current year.

Insider Activity

In other news, insider Laurence Denny sold 10,000 shares of the business's stock in a transaction on Tuesday, February 11th. The stock was 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 in the company, valued at $701,373. The trade was a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Sylebra Capital Llc sold 50,000 shares of 8X8 stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $2.14, for a total transaction of $107,000.00. Following the completion of the sale, the insider now directly owns 14,187,327 shares of the company's stock, valued at approximately $30,360,879.78. This trade represents a 0.35 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 263,678 shares of company stock worth $591,532. Insiders own 1.22% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in EGHT. Pallas Capital Advisors LLC purchased a new position in 8X8 during the 4th quarter valued at $29,000. Picton Mahoney Asset Management boosted its stake in shares of 8X8 by 53.6% during the fourth quarter. Picton Mahoney Asset Management now owns 11,104 shares of the company's stock valued at $30,000 after purchasing an additional 3,876 shares during the period. Captrust Financial Advisors bought a new position in shares of 8X8 in the fourth quarter worth about $30,000. Cibc World Markets Corp purchased a new position in 8X8 in the 4th quarter worth about $32,000. Finally, O Shaughnessy Asset Management LLC bought a new stake in 8X8 during the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 93.99% of the company's stock.

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.