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EGHT $2.26

EGHT target price
2.26
0
0
8x8, Inc.
Type
Public
Industry Cloud-based Business Communications Services
Headquarters San Jose, CA, USA
Key people
Vikram Verma (CEO), Bryan R. Martin (Chairman & CTO), Mary Ellen Genovese (CFO)
Products Business VoIP Phone Service
Unified Communications
Hosted Contact Centers
Revenue $209.3 million (FY2016)
Number of employees
800
Website 8x8.com

8x8 Inc. is an American communications technology company that provides VoIP telephony services. 8x8 services include cloud-based voice, call center, video, mobile and unified communications solutions for medium to enterprise-sized businesses and distributed enterprise customers. Some of 8x8's services are offered under the brand Packet8.

8x8 was founded in 1987 by Dr. Chi-Shin Wang and Dr. Y.W. Sing formerly of Weitek as Integrated Information Technology, Inc., or IIT. The name was changed in the early 1990s. They began IIT as a fabless vendor of semiconductor products for the math coprocessor and graphics chipset markets. The company produced x87 floating point coprocessor for the 286, 386 and 486 generations of microprocessors as well as graphics accelerator chips for the personal computer market during the late 1980s and early 1990s.

In 1992 the company began shipping a lossless data compression product called Xtradrive. In the early 1990s IIT began producing chips, software and other technologies for the videoconferencing market. The company changed its name to 8x8 and began marketing its own set-top videoconferencing systems for consumers under the ViaTV brand. 8x8 went public on the NASDAQ market in 1997, trading under the ticker symbol EGHT.

In January 1999, 8x8 launched a family of Voice over IP (VoIP) chips and software that were sold to IP phone, IP/PSTN gateway and other manufacturers of VoIP equipment. 8x8 acquired two companies (Odisei and U|Force), to acquire network/server VoIP technologies, and began selling an end-to-end VoIP services technology solution to service providers in 1999.

In 2002, the company relaunched itself as a VoIP service provider under the Packet8 brand. In 2003, it launched its first consumer videophone services on the Packet8 network. In 2004, the company became the first VoIP service provider to offer replacement, E-911 services to its subscribers. It also launched a suite of business services called Packet8 Virtual Office. In July 2007, 8x8 "entered an agreement … to accept" the 200,000 customers who abruptly lost phone service when VoIP startup SunRocket was liquidated. At the time, the Washington Post described Packet8 as "the third-largest independent Internet-phone service provider with 181,000 customers."

On 25 July 2002, 8x8 announced that its application for listing on the Nasdaq SmallCap Market had been approved. 8x8 retained its ticker symbol of EGHT, and began trading on the Nasdaq SmallCap Market on Friday, 26 July 2002.

On September 1, 2004, the company began selling their product at Fry's stores. 8x8 finished a series of TV commercials featuring San Francisco 49ers players. In 2009, 8x8 added Unified Communications to their portfolio and a contact center solution and mobile solutions in 2011.

8x8 has been awarded 128 patents related to semiconductors, computer architecture, video processing algorithms, videophones and communications technologies and security. In October 2014, 8x8 reported a customer base of more than 40,434 businesses.

In May 2010, 8x8 acquired Central Host, a California-based managed hosting company and began offering cloud-based hosting services. In June 2011, 8x8 announced the acquisition of Zerigo, a Colorado-based cloud services company and began offering cloud servers and managed DNS services. In September 2011, 8x8 acquired Contactual, a hosted contact center company. In 2013, 8x8 acquired UK-based Voicenet, a cloud services company and expanded its offering of the 8x8 portfolio of cloud communications services in the UK.

In May 2015 8x8 acquired privately held UK-based DXI Ltd., a cloud-based contact center solutions vendor for $26 million in cash and stock. In June 2015 8x8 acquired assets of the privately held Delray Beach, Florida based Quality Software Corp. (QSC) as well as two affiliated companies.

In August 2017, Gartner positioned 8x8 in the Leaders Quadrant of its Magic Quadrant for UCaaS (Unified Communications as a Service) for the sixth consecutive year.

In May, 2015, Infonetics Research named 8x8 as the #1 cloud unified communications provider in its 2015 Cloud UC North American Service Provider Scorecard.

The company provides (as of January 2017) products for business phone systems, cloud contact centers, unified communications, and phone equipment such as IP phones. Sample products include:

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q2 2022 2022-10-31 Future report Set alerts
Q1 2022 2022-07-27 0.09 0.09
Q4 2021 2022-05-10 0.05 0.05
Q3 2021 2022-02-02 0.02 0.02
Q2 2021 2021-11-02 0.01 0.01
Q1 2021 2021-08-04 0.01 0.01
Q4 2020 2021-05-10 0.00 0.00
Q3 2020 2021-01-28 -0.02 -0.02
Q2 2020 2020-10-28 0.00 0.00
Q1 2020 2020-07-30 -0.07 -0.40

Ratings

2016-06-30 Reiterated Rating Summit Redstone Buy $17.00
2016-06-18 Reiterated Rating William Blair Buy
2016-06-03 Initiated Coverage Needham & Company LLC Buy $15.00
2016-05-23 Reiterated Rating B. Riley Neutral $9.75
2016-05-22 Reiterated Rating William Blair Buy
2016-05-22 Reiterated Rating Bank of America Buy
2016-05-22 Reiterated Rating Deutsche Bank Buy
2016-05-22 Reiterated Rating Summit Research Buy $16.00
2016-05-22 Reiterated Rating Bank of America Corp. Buy
2016-05-22 Reiterated Rating Deutsche Bank AG Buy
2016-05-20 Boost Price Target Dougherty & Co Buy $14.00 to $15.00
2016-05-20 Boost Price Target Barclays Overweight $12.00 to $13.00
2016-05-20 Boost Price Target Barclays PLC Overweight $12.00 to $13.00
2016-05-18 Reiterated Rating B. Riley Neutral $9.75
2016-04-06 Reiterated Rating William Blair Buy
2016-01-25 Initiated Coverage Summit Research Buy $16.00
2016-01-25 Reiterated Rating B. Riley Neutral $9.75
2016-01-22 Reiterated Rating William Blair Buy
2016-01-22 Reiterated Rating Deutsche Bank Buy $18.00
2016-01-22 Reiterated Rating Needham & Company LLC Buy $14.00
2016-01-22 Boost Price Target Barclays Overweight $11.00 to $12.00
2016-01-20 Reiterated Rating B. Riley Neutral $9.00
2015-11-10 Reiterated Rating William Blair Buy
2015-10-29 Reiterated Rating B. Riley Neutral $9.00
2015-10-24 Reiterated Rating B. Riley Neutral $9.00
2015-10-23 Reiterated Rating Deutsche Bank Buy
2015-10-23 Reiterated Rating William Blair Buy
2015-10-23 Boost Price Target Craig Hallum Buy $11.00 to $12.00
2015-10-23 Reiterated Rating Canaccord Genuity Buy $9.75 to $11.50
2015-10-23 Boost Price Target Northland Securities Outperform $11.25 to $12.00
2015-10-19 Reiterated Rating B. Riley Neutral $9.00
2015-08-10 Initiated Coverage Canaccord Genuity Buy to Buy $9.75 to $9.75
2015-07-25 Reiterated Rating B. Riley Neutral $9.00
2015-07-23 Reiterated Rating Deutsche Bank Buy $18.00
2015-07-20 Reiterated Rating B. Riley Neutral $9.00
2015-06-12 Reiterated Rating B. Riley Neutral $9.00
2015-06-06 Reiterated Rating Needham & Company LLC Buy $14.00
2015-06-05 Downgrade B. Riley Buy to Neutral $10.25 to $9.00
2015-05-28 Reiterated Rating B. Riley Buy $10.25
2015-05-23 Reiterated Rating Needham & Company LLC Buy $14.00
2015-05-20 Reiterated Rating B. Riley Buy $10.25
2015-04-06 Boost Price Target Northland Securities Outperform $10.00 to $11.25
2015-03-20 Reiterated Rating Deutsche Bank Buy $15.00
2015-01-23 Reiterated Rating B. Riley Buy $10.25
2015-01-14 Reiterated Rating B. Riley Buy $10.25
2014-10-24 Downgrade Sidoti Buy to Neutral
2014-10-23 Lower Price Target Northland Securities Outperform $12.00 to $10.00
2014-10-15 Upgrade Sidoti Neutral to Buy
2014-10-14 Upgrade B. Riley Neutral to Buy $5.84 to $8.00
2014-08-27 Lower Price Target Barclays Overweight $12.00 to $10.00
2014-07-07 Initiated Coverage Dougherty & Co Buy $11.50
2014-05-23 Reiterated Rating B. Riley Neutral $10.00 to $8.00
2014-01-07 Initiated Coverage Needham & Company LLC Buy $14.00
2013-11-25 Initiated Coverage Deutsche Bank Buy $13.00
2013-11-25 Initiated Coverage Bank of America Buy $13.00
2013-11-25 Initiated Coverage Barclays Buy to Overweight $12.00
2013-10-24 Boost Price Target Northland Securities Outperform $11.00 to $11.50
2013-10-22 Boost Price Target B. Riley Neutral $8.12 to $11.50
2013-10-22 Boost Price Target Dougherty & Co Buy $10.50 to $12.50
2013-07-25 Reiterated Northland Capital Outperform $8 to $9.50
2013-01-25 Downgrade Northland Securities Outperform to Market Perform
2012-11-08 Initiated Dougherty & Company Buy $8.50
2012-07-18 Initiated William Blair Outperform
2011-08-09 Upgrade Northland Securities Market Perform to Outperform
2011-01-27 Downgrade Northland Securities Outperform to Market Perform
2010-10-08 Reiterated Northland Securities Outperform $2.25 to $2.50
2010-03-22 Initiated Northland Securities Outperform $2.10
2008-04-15 Initiated Kaufman Bros Buy $2
2008-01-15 Initiated B. Riley & Co Buy $3
2008-01-02 Upgrade MDB Capital Group Neutral to Buy $1.40
2007-02-20 Upgrade Merriman Curhan Ford Neutral to Buy
2016-06-30 Reiterated Rating Summit Redstone Buy $17.00
2016-06-18 Reiterated Rating William Blair Buy
2016-06-03 Initiated Coverage Needham & Company LLC Buy $15.00
2016-05-23 Reiterated Rating B. Riley Neutral $9.75
2016-05-22 Reiterated Rating William Blair Buy

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
HECKER GUY L JR 1.34%  (1190759) EGHT /
MARTIN BRYAN R Chief Executive Officer 0.96%  (852872) EGHT /
Weirich Daniel Chief Financial Officer 0.88%  (777832) EGHT /
Verma Vikram Chief Executive Officer 0.75%  (667487) EGHT /
REES HUW A VP of Business Development 0.72%  (639449) EGHT /
Severin Debbie Jo Chief Marketing Officer 0.17%  (152786) EGHT /
GENOVESE MARY ELLEN P Chief Financial Officer 0.15%  (133158) EGHT /
NIEDERMAN KIM President 0.14%  (123313) EGHT /
SALZMAN ERIC 0.11%  (99912) EGHT / RMKR /
Potter Ian 0.09%  (78298) EGHT /
Hakeman Darren J. SVP Product and Strategy 0.07%  (64575) EGHT /
JACIMOVIC VLADIMIR S 0.07%  (58288) EGHT /
Singh Jaswinder Pal 0.07%  (58288) EGHT /
Arora Puneet SVP Global Sales 0.07%  (58212) EGHT /
Salame Mansour 0.04%  (33312) EGHT /
Gerdes Henrik VP & Chief Accounting Officer 0.01%  (6243) EGHT /