8×8 (EGHT) Getting Somewhat Positive Press Coverage, Accern Reports
News coverage about 8×8 (NASDAQ:EGHT) has been trending somewhat positive on Saturday, Accern reports. The research group identifies positive and negative media coverage by monitoring more than 20 million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. 8×8 earned a media sentiment score of 0.16 on Accern’s scale. Accern also assigned news stories about the technology company an impact score of 45.8395614089494 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.
Here are some of the news stories that may have impacted Accern Sentiment’s rankings:
- 8×8, Inc. (EGHT) registers a price change of -1.47% while … – Stocks Gallery (stocksgallery.com)
- 8×8 and Aryaka Partner to Enhance Cloud Communications for … – Cellular News (cellular-news.com)
- 8×8, Inc. breached its 50 day moving average in a Bearish Manner : EGHT-US : September 22, 2017 (finance.yahoo.com)
- 8×8 : and Aryaka Partner to Enhance Cloud Communications for Global Enterprises (4-traders.com)
- 8×8 Inc (NASDAQ:EGHT) Sees Light Trading Volume with 3708 Shares Changing Hands – First News 24 (firstnewspaper24.com)
8×8 (NASDAQ:EGHT) traded down 1.12% during mid-day trading on Friday, reaching $13.30. The company’s stock had a trading volume of 783,611 shares. 8×8 has a 12-month low of $10.30 and a 12-month high of $16.80. The company has a 50-day moving average price of $13.44 and a 200-day moving average price of $14.06. The firm’s market cap is $1.22 billion.
8×8 (NASDAQ:EGHT) last announced its earnings results on Thursday, July 27th. The technology company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The company had revenue of $69.10 million for the quarter, compared to analysts’ expectations of $68.65 million. 8×8 had a negative net margin of 2.44% and a positive return on equity of 1.38%. 8×8’s quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.04 earnings per share. On average, equities research analysts expect that 8×8 will post $0.07 earnings per share for the current year.
Several research analysts have issued reports on EGHT shares. Zacks Investment Research upgraded 8×8 from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Tuesday, July 18th. Deutsche Bank AG increased their price target on 8×8 from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, May 30th. ValuEngine upgraded 8×8 from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Northland Securities set a $18.00 target price on 8×8 and gave the company a “buy” rating in a report on Friday, July 28th. Finally, Craig Hallum lowered 8×8 from a “buy” rating to a “hold” rating and dropped their target price for the company from $19.00 to $15.00 in a report on Friday, July 28th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $17.30.
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In related news, CEO Vikram Verma acquired 11,700 shares of 8×8 stock in a transaction dated Tuesday, August 1st. The stock was purchased at an average cost of $12.80 per share, for a total transaction of $149,760.00. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CFO Mary Ellen P. Genovese acquired 11,625 shares of 8×8 stock in a transaction dated Tuesday, August 1st. The stock was bought at an average price of $12.78 per share, with a total value of $148,567.50. Following the completion of the purchase, the chief financial officer now directly owns 92,106 shares in the company, valued at $1,177,114.68. The disclosure for this purchase can be found here. 4.40% of the stock is currently owned by insiders.
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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