Rosenblatt Securities Reaffirms “Buy” Rating for 8X8 (NASDAQ:EGHT)

8X8 (NASDAQ:EGHT)‘s stock had its “buy” rating restated by equities researchers at Rosenblatt Securities in a report issued on Wednesday,Benzinga reports. They currently have a $2.50 target price on the stock. Rosenblatt Securities’ price target suggests a potential upside of 26.90% from the company’s previous close.

A number of other analysts have also issued reports on EGHT. Morgan Stanley set a $1.90 target price on shares of 8X8 in a research note on Friday, August 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of 8X8 in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of 8X8 from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 5th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, 8X8 currently has a consensus rating of “Reduce” and an average target price of $2.49.

8X8 Trading Down 10.5%

EGHT opened at $1.97 on Wednesday. The company has a debt-to-equity ratio of 2.56, a quick ratio of 1.18 and a current ratio of 1.18. The stock’s 50 day moving average price is $2.01 and its 200-day moving average price is $1.91. 8X8 has a one year low of $1.52 and a one year high of $3.52. The stock has a market cap of $268.65 million, a price-to-earnings ratio of -12.31, a P/E/G ratio of 2.13 and a beta of 1.94.

8X8 (NASDAQ:EGHT) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.04. 8X8 had a positive return on equity of 11.38% and a negative net margin of 2.96%. 8X8 has set its FY 2026 guidance at 0.310-0.330 EPS. Q3 2026 guidance at 0.080-0.090 EPS. On average, equities analysts forecast that 8X8 will post 0.04 EPS for the current year.

Institutional Investors Weigh In On 8X8

Hedge funds have recently made changes to their positions in the stock. Savant Capital LLC boosted its position in 8X8 by 58.5% during the third quarter. Savant Capital LLC now owns 85,010 shares of the company’s stock valued at $180,000 after purchasing an additional 31,376 shares in the last quarter. Williams & Novak LLC boosted its holdings in shares of 8X8 by 27.6% in the 3rd quarter. Williams & Novak LLC now owns 40,830 shares of the company’s stock valued at $87,000 after buying an additional 8,825 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of 8X8 by 67.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 58,541 shares of the company’s stock valued at $124,000 after buying an additional 23,661 shares in the last quarter. Merit Financial Group LLC grew its position in shares of 8X8 by 72.2% in the 3rd quarter. Merit Financial Group LLC now owns 21,639 shares of the company’s stock worth $46,000 after buying an additional 9,073 shares during the last quarter. Finally, CWM LLC raised its stake in shares of 8X8 by 119.4% during the 3rd quarter. CWM LLC now owns 107,792 shares of the company’s stock worth $229,000 after acquiring an additional 58,664 shares in the last quarter. 93.99% of the stock is currently owned by hedge funds and other institutional investors.

8X8 Company Profile

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.