B.Riley FBR Reaffirms Their Sell Rating on 8X8 (EGHT)

By Jason Carr

In a report released today, Josh Nichols from B.Riley FBR reiterated a Sell rating on 8X8 (EGHTResearch Report), with a price target of $12.00. The company’s shares closed last Tuesday at $20.42.

According to TipRanks.com, Nichols is a 4-star analyst with an average return of 7.4% and a 38.9% success rate. Nichols covers the Technology sector, focusing on stocks such as Smith Micro Software, Adesto Technologies, and Avid Technology.

8X8 has an analyst consensus of Moderate Buy, with a price target consensus of $21.88.

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Based on 8X8’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $119 million and GAAP net loss of $47.07 million. In comparison, last year the company earned revenue of $89.91 million and had a GAAP net loss of $23.77 million.

Based on the recent corporate insider activity of 54 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of EGHT in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

8×8, Inc. engages in the provision of enterprise communication solutions. Its solutions include industry and business solutions for collections, education, government healthcare, high tech, insurance, call center, call center software, network optimization, and international calls. The company was founded in February 1987 and is headquartered in San Jose, CA.