8X8 (NASDAQ:EGHT – Get Free Report) updated its FY 2027 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 0.330-0.380 for the period, compared to the consensus EPS estimate of 0.330. The company issued revenue guidance of $745.0 million-$765.0 million, compared to the consensus revenue estimate of $737.6 million. 8X8 also updated its Q2 2027 guidance to 0.070-0.080 EPS.
8X8 Trading Down 6.8%
NASDAQ:EGHT traded down $0.16 on Thursday, reaching $2.15. The stock had a trading volume of 835,110 shares, compared to its average volume of 1,761,186. 8X8 has a 12-month low of $1.57 and a 12-month high of $2.88. The firm’s fifty day moving average is $1.90 and its two-hundred day moving average is $2.02. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.09 and a quick ratio of 1.09. The company has a market cap of $305.40 million, a price-to-earnings ratio of 53.89, a P/E/G ratio of 1.62 and a beta of 1.83.
Wall Street Analyst Weigh In
EGHT has been the subject of a number of research reports. B. Riley Financial reaffirmed a “buy” rating and set a $3.25 price target (up from $3.00) on shares of 8X8 in a research note on Wednesday. Rosenblatt Securities restated a “buy” rating and issued a $3.00 price target on shares of 8X8 in a research report on Wednesday. Finally, Weiss Ratings upgraded shares of 8X8 from a “sell (e+)” rating to a “sell (d)” rating in a research note on Thursday, June 4th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $2.72.
Insider Buying and Selling at 8X8
In other news, Director Elizabeth Harriet Theophille sold 20,207 shares of the firm’s stock in a transaction on Monday, July 27th. The stock was sold at an average price of $1.81, for a total transaction of $36,574.67. Following the completion of the sale, the director directly owned 167,086 shares of the company’s stock, valued at $302,425.66. This trade represents a 10.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 2.13% of the company’s stock.
Institutional Investors Weigh In On 8X8
Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE increased its stake in 8X8 by 31.9% in the third quarter. Bank of America Corp DE now owns 6,234,230 shares of the company’s stock valued at $13,217,000 after purchasing an additional 1,506,586 shares during the period. JPMorgan Chase & Co. increased its position in shares of 8X8 by 33.3% in the second quarter. JPMorgan Chase & Co. now owns 2,516,232 shares of the company’s stock worth $4,932,000 after acquiring an additional 628,024 shares in the last quarter. Boston Partners raised its position in shares of 8X8 by 7.9% in the 3rd quarter. Boston Partners now owns 8,582,614 shares of the company’s stock valued at $18,192,000 after purchasing an additional 625,479 shares in the last quarter. AQR Capital Management LLC lifted its holdings in 8X8 by 36.0% during the 2nd quarter. AQR Capital Management LLC now owns 2,111,511 shares of the company’s stock worth $4,139,000 after buying an additional 558,562 shares during the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of 8X8 by 314.6% during the fourth quarter. Marshall Wace LLP now owns 633,209 shares of the company’s stock valued at $1,247,000 after purchasing an additional 480,477 shares during the last quarter. Hedge funds and other institutional investors own 93.99% of the company’s stock.
About 8X8
8×8, Inc (NASDAQ: EGHT) is a global provider of cloud-based enterprise communications, collaboration and contact centre solutions. The company’s unified communications as a service (UCaaS) platform integrates voice, video, chat, SMS and contact-centre capabilities into a single, software-driven solution. By combining real-time analytics, team messaging and interoperability with third-party business applications, 8×8 aims to simplify communications infrastructure for organisations of all sizes.
Founded in 1987 and headquartered in Campbell, California, 8×8 pioneered hosted VoIP services for businesses in the late 1990s and went public on the NASDAQ in 1997.
Read More
- Five stocks we like better than 8X8
- What Tesla Stands to Lose If It Walks Away From China
- Disney Sets Up for a Magical Year in 2027
- Astera Labs’ Post-Earnings Pullback May Be Last Chance to Buy Below $360
- McDonald’s Stock Sell-Off: Justified Warning or Buying Opportunity?
Receive News & Ratings for 8X8 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 8X8 and related companies with MarketBeat.com's FREE daily email newsletter.
