CTAs are almost max long in equities, have very limited room to buy: UBS
Kevin Kraus, the Chief Financial Officer of 8x8 Inc (NASDAQ:EGHT), recently sold 1,000 shares of the company’s common stock. The company, currently valued at $214.7 million, has seen its stock decline nearly 39% year-to-date, according to InvestingPro data. The transaction, which took place on April 15, 2025, was executed at a price of $1.67 per share, amounting to a total sale of $1,670. Following this sale, Kraus retains ownership of 442,767 shares in the company. This transaction was conducted under a pre-established trading plan, commonly referred to as a 10b5-1 plan. InvestingPro analysis suggests the stock is currently undervalued, with additional insights available in the comprehensive Pro Research Report, one of 1,400+ detailed company analyses available to subscribers.
In other recent news, 8x8 reported its third-quarter fiscal year 2025 earnings, which aligned with consensus estimates for both revenue and earnings per share. Despite meeting these expectations, the company adjusted its full-year guidance downward due to anticipated foreign exchange headwinds. Needham analysts responded by raising the price target for 8x8 shares to $3.50 from the previous $3.00, while maintaining a Buy rating. This decision reflects confidence in the company’s ongoing efforts to improve its balance sheet, despite challenges in near-term revenue growth. The legacy Fuze customer base, which accounts for about 5% of service revenue, remains a challenge with approximately 100 customers yet to migrate. In the competitive U.S. Unified Communications as a Service market, 8x8 sees healthier opportunities internationally, particularly with its Communications Platform as a Service offering. The company is focusing on platform bundling as its primary go-to-market strategy and prioritizing debt servicing in its capital allocation. These developments indicate a strategic focus on strengthening financials and expanding market reach.
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