8×8 Inc (EGHT) to Release Earnings on Thursday
8×8 Inc (NASDAQ:EGHT) is scheduled to be posting its quarterly earnings results after the market closes on Thursday, July 27th. Analysts expect 8×8 to post earnings of $0.03 per share for the quarter.
8×8 (NASDAQ:EGHT) last released its earnings results on Thursday, May 25th. The technology company reported $0.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.02. 8×8 had a positive return on equity of 2.26% and a negative net margin of 1.88%. The business had revenue of $66.49 million during the quarter, compared to the consensus estimate of $65.54 million. During the same period last year, the business posted $0.03 earnings per share. The business’s revenue for the quarter was up 16.0% on a year-over-year basis. On average, analysts expect 8×8 to post $0.18 EPS for the current fiscal year and $0.25 EPS for the next fiscal year.
Shares of 8×8 Inc (NASDAQ:EGHT) opened at 13.55 on Thursday. 8×8 Inc has a 52-week low of $12.60 and a 52-week high of $16.80. The firm has a 50-day moving average price of $14.43 and a 200-day moving average price of $14.62. The stock’s market capitalization is $1.24 billion.
8×8 declared that its Board of Directors has approved a share buyback program on Thursday, May 25th that authorizes the company to repurchase $25.00 million in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 28% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.
A number of equities analysts recently commented on EGHT shares. Zacks Investment Research raised 8×8 from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Tuesday. Morgan Stanley started coverage on 8×8 in a report on Tuesday, April 11th. They issued an “equal weight” rating and a $17.00 target price on the stock. Deutsche Bank AG raised their target price on 8×8 from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, May 30th. William Blair cut 8×8 from an “outperform” rating to a “market perform” rating in a report on Monday, May 1st. Finally, Dougherty & Co decreased their target price on 8×8 from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Tuesday, May 23rd. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. 8×8 has an average rating of “Buy” and an average price target of $17.50.
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8×8, Inc provides cloud-based, enterprise-class software solutions. The Company’s solutions are delivered through Software as a Service (SaaS) business model. Its segments include Americas and Europe. Its software platform brings together cloud, mobile, collaboration, video and data science technologies.
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