8X8 (EGHT) Lifted to Strong-Buy at BidaskClub

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8X8 (NASDAQ:EGHT) was upgraded by research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Tuesday, BidAskClub reports.

A number of other equities research analysts also recently weighed in on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $22.50 price target on shares of 8X8 in a research note on Monday, March 25th. Zacks Investment Research upgraded shares of 8X8 from a “sell” rating to a “hold” rating in a research note on Thursday, March 21st. Guggenheim began coverage on shares of 8X8 in a research note on Monday, March 11th. They set a “neutral” rating and a $20.00 price target on the stock. Needham & Company LLC decreased their price target on shares of 8X8 from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, January 30th. Finally, Stephens began coverage on shares of 8X8 in a research note on Thursday, January 3rd. They set an “overweight” rating on the stock. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $22.72.

Shares of 8X8 stock opened at $22.06 on Tuesday. 8X8 has a 1 year low of $15.13 and a 1 year high of $23.50.

8X8 (NASDAQ:EGHT) last posted its quarterly earnings results on Tuesday, January 29th. The technology company reported ($0.06) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.06). The business had revenue of $89.91 million for the quarter, compared to analyst estimates of $88.57 million.

Several hedge funds and other institutional investors have recently modified their holdings of EGHT. JPMorgan Chase & Co. lifted its holdings in shares of 8X8 by 45.1% during the third quarter. JPMorgan Chase & Co. now owns 136,986 shares of the technology company’s stock valued at $2,910,000 after acquiring an additional 42,563 shares during the period. Bank of New York Mellon Corp raised its holdings in 8X8 by 3.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,095,751 shares of the technology company’s stock worth $23,286,000 after purchasing an additional 40,321 shares during the last quarter. BlackRock Inc. raised its holdings in 8X8 by 4.1% during the 3rd quarter. BlackRock Inc. now owns 13,525,410 shares of the technology company’s stock worth $287,414,000 after purchasing an additional 537,685 shares during the last quarter. FMR LLC raised its holdings in 8X8 by 127.1% during the 3rd quarter. FMR LLC now owns 2,534,871 shares of the technology company’s stock worth $53,865,000 after purchasing an additional 1,418,840 shares during the last quarter. Finally, Riverhead Capital Management LLC raised its holdings in 8X8 by 32.3% during the 3rd quarter. Riverhead Capital Management LLC now owns 16,780 shares of the technology company’s stock worth $357,000 after purchasing an additional 4,100 shares during the last quarter. 71.56% of the stock is owned by institutional investors.

About 8X8

8×8, Inc provides cloud-based, enterprise-class software solutions. The Company’s solutions are delivered through Software as a Service (SaaS) business model. Its segments include Americas and Europe. Its software platform brings together cloud, mobile, collaboration, video and data science technologies.

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Analyst Recommendations for 8X8 (NASDAQ:EGHT)

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