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

8X8 (NASDAQ:EGHT)‘s stock had its “sell (d-)” rating reissued by equities research analysts at Weiss Ratings in a research report issued to clients and investors on Saturday,Weiss Ratings reports.

Other equities analysts have also issued reports about the company. Wells Fargo & Company increased their price objective on 8X8 from $1.50 to $2.00 and gave the company an “underweight” rating in a research report on Tuesday, November 5th. Rosenblatt Securities lowered their price objective on shares of 8X8 from $3.50 to $3.30 and set a “buy” rating for the company in a report on Monday. Mizuho lowered shares of 8X8 from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $2.75 to $2.50 in a report on Friday, December 13th. Wedbush raised shares of 8X8 to a “hold” rating in a research note on Thursday, October 17th. Finally, B. Riley reaffirmed a “buy” rating and set a $4.00 price objective (down from $7.00) on shares of 8X8 in a research note on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, 8X8 has an average rating of “Hold” and an average price target of $2.84.

8X8 Stock Down 2.9 %

EGHT opened at $2.72 on Friday. The firm has a market capitalization of $355.40 million, a P/E ratio of -4.95, a price-to-earnings-growth ratio of 24.05 and a beta of 1.66. The company has a debt-to-equity ratio of 3.26, a current ratio of 1.18 and a quick ratio of 1.18. The company has a fifty day moving average price of $2.83 and a 200-day moving average price of $2.44. 8X8 has a one year low of $1.51 and a one year high of $3.41.

8X8 (NASDAQ:EGHT) last announced its earnings results on Monday, November 4th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. 8X8 had a negative net margin of 9.68% and a negative return on equity of 6.00%. The business had revenue of $181.00 million for the quarter, compared to the consensus estimate of $178.38 million. During the same period last year, the firm posted $0.02 earnings per share. 8X8’s quarterly revenue was down 2.2% on a year-over-year basis. Equities research analysts expect that 8X8 will post 0.01 earnings per share for the current fiscal year.

Institutional Trading of 8X8

Large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its position in shares of 8X8 by 10.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,484,108 shares of the company’s stock worth $3,294,000 after purchasing an additional 145,606 shares during the period. Sei Investments Co. purchased a new position in shares of 8X8 during the 2nd quarter worth approximately $44,000. Sanctuary Advisors LLC bought a new position in shares of 8X8 in the 2nd quarter worth approximately $77,000. Creative Planning lifted its stake in shares of 8X8 by 16.6% in the 3rd quarter. Creative Planning now owns 38,245 shares of the company’s stock valued at $78,000 after purchasing an additional 5,453 shares during the period. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in shares of 8X8 during the third quarter valued at approximately $30,000. Institutional investors own 93.99% 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.