Fintel reports that on May 12, 2023, Barclays maintained coverage of 8X8 (NYSE:EGHT) with a Overweight recommendation.

Analyst Price Forecast Suggests 84.52% Upside

As of May 11, 2023, the average one-year price target for 8X8 is 5.94. The forecasts range from a low of 4.54 to a high of $7.35. The average price target represents an increase of 84.52% from its latest reported closing price of 3.22.

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The projected annual revenue for 8X8 is 811MM, an increase of 9.01%. The projected annual non-GAAP EPS is 0.38.

What is the Fund Sentiment?

There are 462 funds or institutions reporting positions in 8X8. This is an increase of 34 owner(s) or 7.94% in the last quarter. Average portfolio weight of all funds dedicated to EGHT is 0.09%, an increase of 31.24%. Total shares owned by institutions increased in the last three months by 2.21% to 130,381K shares. The put/call ratio of EGHT is 1.90, indicating a bearish outlook.

What are Other Shareholders Doing?

Sylebra Capital holds 14,328K shares representing 12.67% ownership of the company. In it's prior filing, the firm reported owning 14,242K shares, representing an increase of 0.60%. The firm increased its portfolio allocation in EGHT by 43.45% over the last quarter.

ArrowMark Colorado Holdings holds 12,779K shares representing 11.30% ownership of the company. In it's prior filing, the firm reported owning 9,329K shares, representing an increase of 26.99%. The firm increased its portfolio allocation in EGHT by 66.93% over the last quarter.

IJR - iShares Core S&P Small-Cap ETF holds 8,277K shares representing 7.32% ownership of the company. In it's prior filing, the firm reported owning 8,785K shares, representing a decrease of 6.13%. The firm increased its portfolio allocation in EGHT by 7.33% over the last quarter.

VEXPX - VANGUARD EXPLORER FUND Investor Shares holds 6,471K shares representing 5.72% ownership of the company. In it's prior filing, the firm reported owning 5,643K shares, representing an increase of 12.79%. The firm increased its portfolio allocation in EGHT by 19.93% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,290K shares representing 2.91% ownership of the company. In it's prior filing, the firm reported owning 3,093K shares, representing an increase of 5.97%. The firm increased its portfolio allocation in EGHT by 22.98% over 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.