8×8 (EGHT) : Caledonia (private) Investments Pty Ltd added new position in 8×8 during the most recent quarter end. The investment management firm now holds 730,000 shares of 8×8 which is valued at $9,876,900 , the company said in a statement filed on Aug 12, 2016 with the SEC.8×8 makes up approximately 0.42% of Caledonia (private) Investments Pty Ltd’s portfolio.
Other Hedge Funds, Including , Coe Capital Management reduced its stake in EGHT by selling 159,022 shares or 59.91% in the most recent quarter. The Hedge Fund company now holds 106,432 shares of EGHT which is valued at $1,440,025. 8×8 makes up approx 0.46% of Coe Capital Management’s portfolio.Texas Permanent School Fund reduced its stake in EGHT by selling 2,587 shares or 3.65% in the most recent quarter. The Hedge Fund company now holds 68,335 shares of EGHT which is valued at $924,573. 8×8 makes up approx 0.01% of Texas Permanent School Fund’s portfolio. Nine Chapters Capital Management sold out all of its stake in EGHT during the most recent quarter. The investment firm sold 30,500 shares of EGHT which is valued $412,665. Stonebridge Capital Management Inc sold out all of its stake in EGHT during the most recent quarter. The investment firm sold 43,875 shares of EGHT which is valued $645,840.Juncture Wealth Strategies reduced its stake in EGHT by selling 5,890 shares or 7.07% in the most recent quarter. The Hedge Fund company now holds 77,471 shares of EGHT which is valued at $1,176,010. 8×8 makes up approx 0.82% of Juncture Wealth Strategies’s portfolio.
8×8 closed down -0.13 points or -0.98% at $13.19 with 5,32,509 shares getting traded on Monday. Post opening the session at $13.3, the shares hit an intraday low of $13.17 and an intraday high of $13.375 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
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. Robert W. Baird Initiated 8×8 on Aug 26, 2016 to “Neutral”, Price Target of the shares are set at $15.Company shares were Reiterated by Needham on Jul 22, 2016 to “Buy”, Firm has raised the Price Target to $ 17 from a previous price target of $15 .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 .
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.