Juncture Wealth Strategies Lowers stake in 8×8 (EGHT)

8×8 (EGHT) : Juncture Wealth Strategies reduced its stake in 8×8 by 7.07% during the most recent quarter end. The investment management company now holds a total of 77,471 shares of 8×8 which is valued at $1,176,010 after selling 5,890 shares in 8×8 , the firm said in a disclosure report filed with the SEC on Jul 14, 2016.8×8 makes up approximately 0.82% of Juncture Wealth Strategies’s portfolio.

Other Hedge Funds, Including , Capstone Asset Management Co boosted its stake in EGHT in the latest quarter, The investment management firm added 4,520 additional shares and now holds a total of 35,590 shares of 8×8 which is valued at $540,612. 8×8 makes up approx 0.02% of Capstone Asset Management Co’s portfolio. Cutler Group Lp sold out all of its stake in EGHT during the most recent quarter. The investment firm sold 13,736 shares of EGHT which is valued $208,650.Creative Planning reduced its stake in EGHT by selling 4,500 shares or 4.83% in the most recent quarter. The Hedge Fund company now holds 88,690 shares of EGHT which is valued at $1,347,201. 8×8 makes up approx 0.01% of Creative Planning’s portfolio.

8×8 opened for trading at $15.18 and hit $15.37 on the upside on Monday, eventually ending the session at $15.18, with a gain of 0.33% or 0.05 points. The heightened volatility saw the trading volume jump to 3,66,193 shares. Company has a market cap of $1,357 M.

On the company’s financial health, 8×8 reported $0.03 EPS for the quarter, based on the information available during the earnings call on May 19, 2016. Analyst had a consensus estimate of $0.03. The company had revenue of $57.33 million for the quarter, compared to analysts expectations of $54.40 million. The company’s revenue was up 31.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.05 EPS.

Many Wall Street Analysts have commented on 8×8. Company shares were Reiterated by Dougherty & Company on Jul 19, 2016 to “Buy”, Firm has raised the Price Target to $ 18 from a previous price target of $15 .Needham Initiated 8×8 on Jun 3, 2016 to “Buy”, Price Target of the shares are set at $15.Company shares were Reiterated by Dougherty & Company on May 20, 2016 to “Buy”, Firm has raised the Price Target to $ 15 from a previous price target of $14 .

8×8 Inc. (8×8) offers Software as a Service (SaaS) communication solution. The Company is engaged in business cloud communications and development and use of Internet protocol voice video and data communication technologies in a true SaaS model. The 8×8 unified cloud communications solution addresses the shortcomings of legacy and point solution cloud services through its pure cloud Software as a Service offering. The Company’s Infrastructure Manager abstracts complex global interconnectivity between Voice over Internet Protocol (VoIP) and traditional public switched telephone network (PSTN) providing customers with a phone system that can reach any phone in the world whether wireless or wireline. Its Integration Manager integrates with third-party applications including Salesforce.com Microsoft Dynamics NetSuite Zendesk and many others to provide integrated applications functionality within its communications and collaboration services.

Leave a Reply

8x8 - Is it time to Sell?

Top Brokerage Firms are advising their investors on 8x8. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.