-$0.01 Earnings Per Share Expected for 8×8, Inc. (NYSE:EGHT) This Quarter


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Wall Street analysts forecast that 8×8, Inc. (NYSE:EGHT) will announce earnings of ($0.01) per share for the current quarter, according to Zacks. Six analysts have issued estimates for 8X8’s earnings. 8X8 reported earnings of ($0.12) per share during the same quarter last year, which indicates a positive year-over-year growth rate of 91.7%. The firm is scheduled to report its next quarterly earnings results on Tuesday, May 11th.

On average, analysts expect that 8X8 will report full year earnings of ($0.14) per share for the current year, with EPS estimates ranging from ($0.14) to ($0.13). For the next financial year, analysts expect that the business will post earnings of $0.05 per share, with EPS estimates ranging from ($0.03) to $0.14. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that follow 8X8.

8X8 (NYSE:EGHT) last announced its quarterly earnings results on Wednesday, January 27th. The technology company reported ($0.02) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.01. 8X8 had a negative net margin of 36.15% and a negative return on equity of 68.68%. The firm had revenue of $136.70 million during the quarter, compared to the consensus estimate of $132.85 million. During the same quarter last year, the firm earned ($0.16) EPS. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year.

A number of research analysts recently commented on the stock. Needham & Company LLC increased their price target on shares of 8X8 from $35.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, December 23rd. Mizuho increased their price objective on shares of 8X8 from $17.00 to $25.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 16th. Craig Hallum increased their price objective on shares of 8X8 from $22.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, January 29th. B. Riley increased their price objective on shares of 8X8 from $25.00 to $32.50 and gave the stock a “neutral” rating in a research report on Monday, January 25th. Finally, Wells Fargo & Company lowered shares of 8X8 from an “equal weight” rating to an “underweight” rating and increased their price objective for the stock from $17.00 to $25.00 in a research report on Tuesday, January 5th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $30.96.

Shares of NYSE:EGHT traded down $0.06 during trading on Friday, reaching $32.78. The company’s stock had a trading volume of 1,976 shares, compared to its average volume of 1,577,760. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 1.72. 8X8 has a 12 month low of $13.51 and a 12 month high of $39.17. The firm’s 50 day simple moving average is $33.65 and its two-hundred day simple moving average is $27.58. The stock has a market capitalization of $3.52 billion, a PE ratio of -19.06 and a beta of 0.98.

In other news, CFO Samuel C. Wilson sold 871 shares of the stock in a transaction that occurred on Thursday, March 18th. The shares were sold at an average price of $32.57, for a total transaction of $28,368.47. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Dejan Deklich sold 1,530 shares of the stock in a transaction that occurred on Thursday, March 18th. The shares were sold at an average price of $32.57, for a total transaction of $49,832.10. Following the transaction, the insider now owns 160,111 shares in the company, valued at $5,214,815.27. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,812 shares of company stock worth $657,749. Corporate insiders own 3.00% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. TRU Independence Asset Management 2 LLC bought a new position in shares of 8X8 during the fourth quarter valued at approximately $31,000. Encompass Wealth Advisors LLC bought a new position in shares of 8X8 during the fourth quarter valued at approximately $31,000. Archer Investment Corp acquired a new stake in 8X8 in the fourth quarter valued at approximately $39,000. Vantage Consulting Group Inc acquired a new stake in 8X8 in the fourth quarter valued at approximately $48,000. Finally, US Bancorp DE boosted its stake in 8X8 by 152.2% in the fourth quarter. US Bancorp DE now owns 1,594 shares of the technology company’s stock valued at $55,000 after acquiring an additional 962 shares in the last quarter. Hedge funds and other institutional investors own 94.40% of the company’s stock.

8X8 Company Profile

8×8, Inc provides voice, video, chat, contact center, and enterprise-class application programmable interface (API) Software-as-a-Service solutions for small and mid-size businesses, mid-market and larger enterprises, government agencies, and other organizations worldwide. It offers unified communications, team collaboration, video conferencing, contact center, data and analytics, communication APIs, and other services.

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