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

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

Other research analysts have also issued reports about the stock. Needham & Company LLC increased their price target 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. Barclays raised 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. Morgan Stanley raised their price target on shares of 8X8 from $2.00 to $2.60 and gave the company an "underweight" rating in a research report on Wednesday, December 18th. Rosenblatt Securities reduced their price objective on 8X8 from $3.50 to $3.30 and set a "buy" rating for the company in a research report 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 issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $2.99.

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8X8 Trading Down 4.1 %

NASDAQ EGHT traded down $0.09 during trading on Friday, hitting $2.11. The company had a trading volume of 1,074,973 shares, compared to its average volume of 993,045. 8X8 has a one year low of $1.51 and a one year high of $3.52. The company has a current ratio of 1.25, a quick ratio of 1.24 and a debt-to-equity ratio of 3.08. The company's fifty day moving average is $2.61 and its 200-day moving average is $2.52. The company has a market cap of $277.87 million, a price-to-earnings ratio of -5.86, a price-to-earnings-growth ratio of 6.08 and a beta of 1.78.

8X8 (NASDAQ:EGHT - Get Free Report) last announced 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 return on equity of 1.45% and a negative net margin of 6.33%. On average, sell-side analysts predict that 8X8 will post 0.04 earnings per share for the current year.

Insider Transactions at 8X8

In related news, major shareholder Sylebra Capital Llc sold 50,000 shares of the business's stock in a transaction on Friday, March 21st. The shares were sold at an average price of $2.14, for a total value of $107,000.00. Following the sale, the insider now owns 14,187,327 shares in the company, valued at approximately $30,360,879.78. The trade was a 0.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Laurence Denny sold 10,000 shares of the company's stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $3.00, for a total transaction of $30,000.00. Following the sale, the insider now owns 233,791 shares in the company, valued at $701,373. This represents a 4.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 263,678 shares of company stock valued at $591,532. 1.22% of the stock is currently owned by insiders.

Hedge Funds Weigh In On 8X8

Institutional investors and hedge funds have recently modified their holdings of the stock. Pallas Capital Advisors LLC bought a new stake in 8X8 in the fourth quarter worth $29,000. Picton Mahoney Asset Management raised its stake in shares of 8X8 by 53.6% in the fourth quarter. Picton Mahoney Asset Management now owns 11,104 shares of the company's stock valued at $30,000 after acquiring an additional 3,876 shares during the period. Captrust Financial Advisors bought a new stake in shares of 8X8 in the 4th quarter worth about $30,000. Cibc World Markets Corp purchased a new position in shares of 8X8 during the 4th quarter worth about $32,000. Finally, O Shaughnessy Asset Management LLC bought a new position 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.

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.