The CEO of 8X8 (EGHT) is Buying Shares


Today, the CEO of 8X8 (NYSE: EGHT), Vikram Verma, bought shares of EGHT for $97.93K.

In addition to Vikram Verma, 2 other EGHT executives reported Buy trades in the last month.

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Based on 8X8’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $85.68 million and GAAP net loss of $21.48 million. In comparison, last year the company earned revenue of $72.48 million and had a GAAP net loss of $546K. Currently, 8X8 has an average volume of 1.29M.

Based on 5 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $22.63, reflecting a 26.2% upside. Three different firms, including Needham and Oppenheimer, currently also have a Buy rating on the stock.

In the last 30 days, insiders have sold $31.01K worth of EGHT shares and purchased $184.9K worth of EGHT shares. The insider sentiment on 8X8 has been positive according to 48 insider trades in the past three months. This sentiment is slightly higher than the average sentiment of company insiders in this sector.

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8×8, Inc. operates as a business cloud communications provider which engages in the provision of development and use of Internet protocol voice, video and data communication technologies. It operates through the following geographical segments: Americas and Europe. The firm also offers a SaaS communication solution.

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