Paradigm Capital Management Inc. NY purchased a new position in shares of 8×8 Inc (NASDAQ:EGHT) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 69,600 shares of the technology company’s stock, valued at approximately $940,000. Paradigm Capital Management Inc. NY owned 0.08% of 8×8 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of the business. BlackRock Inc. raised its stake in 8×8 by 120,530.1% during the first quarter. BlackRock Inc. now owns 10,695,065 shares of the technology company’s stock worth $163,100,000 after purchasing an additional 10,686,199 shares during the period. Vanguard Group Inc. increased its position in shares of 8×8 by 4.5% in the second quarter. Vanguard Group Inc. now owns 4,973,283 shares of the technology company’s stock worth $72,362,000 after acquiring an additional 213,257 shares in the last quarter. First Trust Advisors LP increased its position in shares of 8×8 by 28.5% in the second quarter. First Trust Advisors LP now owns 3,535,356 shares of the technology company’s stock worth $51,439,000 after acquiring an additional 784,916 shares in the last quarter. Hunt Lane Capital LP acquired a new stake in shares of 8×8 in the second quarter worth $36,375,000. Finally, State Street Corp increased its position in shares of 8×8 by 4.8% in the second quarter. State Street Corp now owns 2,226,356 shares of the technology company’s stock worth $32,388,000 after acquiring an additional 101,136 shares in the last quarter. 67.15% of the stock is currently owned by institutional investors.
Several equities research analysts have recently issued reports on the stock. B. Riley reissued a “neutral” rating and issued a $14.00 price objective on shares of 8×8 in a research report on Monday, July 24th. Zacks Investment Research raised shares of 8×8 from a “sell” rating to a “hold” rating in a research report on Monday, August 14th. BidaskClub raised shares of 8×8 from a “hold” rating to a “buy” rating in a research report on Saturday, August 5th. Craig Hallum lowered shares of 8×8 from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $19.00 to $15.00 in a research report on Friday, July 28th. Finally, William Blair reissued a “hold” rating on shares of 8×8 in a research report on Sunday, July 30th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $17.30.
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8×8 Inc (NASDAQ EGHT) traded down $0.45 on Monday, reaching $13.50. 411,500 shares of the company were exchanged, compared to its average volume of 756,191. 8×8 Inc has a 1-year low of $10.30 and a 1-year high of $16.80.
8×8 (NASDAQ:EGHT) last released its quarterly earnings results on Thursday, October 26th. The technology company reported $0.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.01. 8×8 had a negative net margin of 2.56% and a positive return on equity of 0.03%. The business had revenue of $72.48 million during the quarter, compared to analyst estimates of $71.65 million. During the same period last year, the business earned $0.06 EPS. The business’s revenue was up 14.7% on a year-over-year basis. equities analysts anticipate that 8×8 Inc will post -0.12 earnings per share for the current year.
8×8 Company Profile
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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