Fintel reports that on September 20, 2023, Rosenblatt reiterated coverage of 8X8 (NYSE:EGHT) with a Buy recommendation.
Analyst Price Forecast Suggests 95.37% Upside
As of August 31, 2023, the average one-year price target for 8X8 is 4.88. The forecasts range from a low of 3.03 to a high of $7.35. The average price target represents an increase of 95.37% from its latest reported closing price of 2.50.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for 8X8 is 811MM, an increase of 9.65%. The projected annual non-GAAP EPS is 0.38.
What is the Fund Sentiment?
There are 430 funds or institutions reporting positions in 8X8. This is a decrease of 34 owner(s) or 7.33% in the last quarter. Average portfolio weight of all funds dedicated to EGHT is 0.08%, a decrease of 5.63%. Total shares owned by institutions decreased in the last three months by 0.67% to 133,708K shares. 
The put/call ratio of EGHT is 2.72, indicating a bearish outlook.
What are Other Shareholders Doing?
Sylebra Capital holds 14,389K shares representing 12.00% ownership of the company. No change in the last quarter.
ArrowMark Colorado Holdings holds 12,994K shares representing 10.83% ownership of the company. In it's prior filing, the firm reported owning 12,013K shares, representing an increase of 7.55%. The firm increased its portfolio allocation in EGHT by 5.96% over the last quarter.
IJR - iShares Core S&P Small-Cap ETF holds 7,969K shares representing 6.64% ownership of the company. In it's prior filing, the firm reported owning 8,244K shares, representing a decrease of 3.46%. The firm decreased its portfolio allocation in EGHT by 5.05% over the last quarter.
VEXPX - VANGUARD EXPLORER FUND Investor Shares holds 5,987K shares representing 4.99% ownership of the company. In it's prior filing, the firm reported owning 6,471K shares, representing a decrease of 8.08%. The firm decreased its portfolio allocation in EGHT by 41.18% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,290K shares representing 2.74% ownership of the company. No change in the last quarter.
8X8 Background Information
(This description is provided by the company.)
8x8, Inc. is transforming the future of business communications as a leading Software-as-a-Service provider of voice, video, chat, contact center, and API solutions powered by one global cloud communications platform. 8x8 empowers workforces worldwide to connect individuals and teams so they can collaborate faster and work smarter. Real-time business analytics and intelligence provide businesses unique insights across all interactions and channels so they can delight end-customers and accelerate their business.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
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This story originally appeared on Fintel.
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