8×8 Inc (EGHT) to Release Quarterly Earnings on Thursday
8×8 Inc (NASDAQ:EGHT) is scheduled to announce its earnings results after the market closes on Thursday, October 26th. Analysts expect the company to announce earnings of $0.04 per share for the quarter.
8×8 (NASDAQ:EGHT) last posted its quarterly earnings results on Thursday, July 27th. The technology company reported $0.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.01). 8×8 had a positive return on equity of 1.38% and a negative net margin of 2.44%. The company had revenue of $69.10 million during the quarter, compared to the consensus estimate of $68.65 million. During the same quarter in the prior year, the business earned $0.04 earnings per share. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. On average, analysts expect 8×8 to post $0.07 EPS for the current fiscal year and $0.12 EPS for the next fiscal year.
8×8 Inc (EGHT) opened at 13.05 on Thursday. The company’s market capitalization is $1.20 billion. The stock has a 50 day moving average price of $13.69 and a 200 day moving average price of $13.89. 8×8 Inc has a 52-week low of $10.30 and a 52-week high of $16.80.
Several equities research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of 8×8 from a “sell” rating to a “hold” rating in a research note on Tuesday. ValuEngine upgraded shares of 8×8 from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. BidaskClub upgraded shares of 8×8 from a “hold” rating to a “buy” rating in a research note on Saturday, August 5th. William Blair restated a “hold” rating on shares of 8×8 in a research note on Sunday, July 30th. Finally, B. Riley restated a “neutral” rating and set a $14.00 price target on shares of 8×8 in a research note on Saturday, July 29th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $17.30.
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In other 8×8 news, CEO Vikram Verma acquired 11,700 shares of 8×8 stock in a transaction that occurred on Tuesday, August 1st. The stock was acquired at an average cost of $12.80 per share, for a total transaction of $149,760.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Mary Ellen P. Genovese acquired 11,625 shares of 8×8 stock in a transaction that occurred on Tuesday, August 1st. The stock was acquired at an average price of $12.78 per share, with a total value of $148,567.50. Following the completion of the purchase, the chief financial officer now directly owns 92,106 shares in the company, valued at approximately $1,177,114.68. The disclosure for this purchase can be found here. 4.40% of the stock is currently owned by insiders.
8×8 Company Profile
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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