Wedbush Forecasts 8X8’s Q1 Earnings (NASDAQ:EGHT)

8×8, Inc. (NASDAQ:EGHT) – Investment analysts at Wedbush issued their Q1 2027 earnings per share estimates for 8X8 in a report issued on Tuesday, May 20th. Wedbush analyst D. Ives anticipates that the company will post earnings of $0.04 per share for the quarter. The consensus estimate for 8X8’s current full-year earnings is $0.04 per share. Wedbush also issued estimates for 8X8’s Q2 2027 earnings at $0.05 EPS, Q3 2027 earnings at $0.04 EPS and Q4 2027 earnings at $0.04 EPS.

Other analysts also recently issued research reports about the company. Mizuho lowered their target price on 8X8 from $2.50 to $2.00 and set an “underperform” rating on the stock in a research report on Tuesday, April 15th. Wall Street Zen cut 8X8 from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Rosenblatt Securities reiterated a “buy” rating and set a $2.70 price target on shares of 8X8 in a report on Tuesday. Needham & Company LLC lifted their price target on 8X8 from $3.00 to $3.50 and gave the stock a “buy” rating in a report on Wednesday, February 5th. Finally, Barclays lifted their price target on 8X8 from $2.50 to $3.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned 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 $2.51.

8X8 Price Performance

NASDAQ:EGHT opened at $1.67 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 stock’s 50-day simple moving average is $1.84 and its 200 day simple moving average is $2.45. The company has a market cap of $219.93 million, a P/E ratio of -4.64, a P/E/G ratio of 6.08 and a beta of 1.80. 8X8 has a 52-week low of $1.51 and a 52-week high of $3.52.

Institutional Investors Weigh In On 8X8

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC increased its holdings in shares of 8X8 by 39.4% during the fourth quarter. SG Americas Securities LLC now owns 61,050 shares of the company’s stock worth $163,000 after buying an additional 17,259 shares in the last quarter. Rhumbline Advisers grew its holdings in 8X8 by 5.2% during the 4th quarter. Rhumbline Advisers now owns 165,380 shares of the company’s stock worth $442,000 after acquiring an additional 8,100 shares during the period. Ieq Capital LLC acquired a new stake in 8X8 during the 4th quarter worth about $85,000. Charles Schwab Investment Management Inc. grew its holdings in 8X8 by 6.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,418,743 shares of the company’s stock worth $3,788,000 after acquiring an additional 80,042 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in 8X8 during the 4th quarter worth about $144,000. 93.99% of the stock is currently owned by institutional investors.

Insider Activity at 8X8

In other 8X8 news, major shareholder Sylebra Capital Llc sold 50,000 shares of the company’s stock in a transaction 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 in the company, valued at $30,360,879.78. This represents a 0.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders sold 254,678 shares of company stock worth $562,412. Company insiders own 1.22% of the company’s stock.

About 8X8

8×8, 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.