Susquehanna Fundamental Investments LLC Has $975,000 Holdings in 8×8, Inc. (NASDAQ:EGHT)

Susquehanna Fundamental Investments LLC boosted its position in shares of 8×8, Inc. (NASDAQ:EGHT) by 62.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 439,230 shares of the company’s stock after acquiring an additional 168,057 shares during the period. Susquehanna Fundamental Investments LLC owned 0.35% of 8X8 worth $975,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sei Investments Co. bought a new position in shares of 8X8 in the second quarter worth about $44,000. XTX Topco Ltd acquired a new position in shares of 8X8 during the second quarter worth approximately $49,000. Williams & Novak LLC acquired a new position in shares of 8X8 during the second quarter worth approximately $77,000. Dynamic Advisor Solutions LLC boosted its position in shares of 8X8 by 83.1% in the second quarter. Dynamic Advisor Solutions LLC now owns 34,520 shares of the company’s stock valued at $77,000 after acquiring an additional 15,665 shares during the period. Finally, EntryPoint Capital LLC acquired a new stake in shares of 8X8 in the first quarter worth $97,000. Institutional investors and hedge funds own 93.99% of the company’s stock.

Wall Street Analyst Weigh In

EGHT has been the subject of several research reports. Barclays reduced their target price on shares of 8X8 from $3.00 to $2.00 and set an “equal weight” rating for the company in a research note on Friday, August 9th. Wells Fargo & Company lowered their price objective on 8X8 from $2.00 to $1.50 and set an “underweight” rating on the stock in a research report on Friday, June 21st. Rosenblatt Securities restated a “buy” rating and issued a $4.00 target price on shares of 8X8 in a research note on Thursday, August 22nd. Morgan Stanley downgraded shares of 8X8 from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $3.00 to $2.00 in a research note on Friday, June 14th. Finally, Needham & Company LLC dropped their price objective on shares of 8X8 from $3.50 to $3.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $2.83.

8X8 Price Performance

Shares of EGHT stock opened at $2.00 on Thursday. The stock’s fifty day simple moving average is $2.07 and its 200 day simple moving average is $2.34. 8×8, Inc. has a one year low of $1.51 and a one year high of $3.92. The firm has a market cap of $250.75 million, a price-to-earnings ratio of -3.64 and a beta of 1.55. The company has a debt-to-equity ratio of 3.93, a current ratio of 1.50 and a quick ratio of 1.50.

8X8 (NASDAQ:EGHT) last issued its earnings results on Wednesday, August 7th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.01). The firm had revenue of $172.80 million during the quarter, compared to analyst estimates of $178.90 million. 8X8 had a negative net margin of 8.65% and a negative return on equity of 6.51%. The firm’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.04) EPS. On average, analysts expect that 8×8, Inc. will post -0.08 earnings per share for the current fiscal year.

8X8 Company Profile

8×8, Inc provides voice, video, chat, contact center, and enterprise-class application programmable interface (API) Software-as-a-Service solutions for small business, mid-market, enterprise customers, government agencies, and other organizations worldwide. It offers 8×8 Work, a self-contained end-to-end united communications solution that delivers voice services, secure video meetings, and unified messaging, including direct messages, public and private team messaging rooms, and peer-to-peer short and multimedia messaging; 8×8 Contact Center, a cloud-based contact center as-a-service solution; and 8×8 Engage, an artificial intelligence-powered solution that equips customer-facing employees outside the contact center with the tools and capabilities to deliver successful customer engagements.