8X8 (EGHT) to Release Earnings on Wednesday

8X8 (NYSE:EGHT) is set to post its quarterly earnings results after the market closes on Wednesday, October 30th. Analysts expect 8X8 to post earnings of ($0.30) per share for the quarter. 8X8 has set its FY 2020 guidance at EPS and its Q2 2020 guidance at EPS.Individual that wish to listen to the company’s earnings conference call can do so using this link.

8X8 (NYSE:EGHT) last issued its quarterly earnings data on Tuesday, July 30th. The technology company reported ($0.14) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.29) by $0.15. The company had revenue of $96.68 million for the quarter, compared to the consensus estimate of $95.88 million. 8X8 had a negative net margin of 29.41% and a negative return on equity of 34.10%. The firm’s revenue for the quarter was up 16.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.04) earnings per share. On average, analysts expect 8X8 to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Shares of 8X8 stock opened at $18.61 on Wednesday. The company has a market cap of $1.85 billion, a price-to-earnings ratio of -26.97 and a beta of 0.71. The company’s 50 day moving average is $21.44 and its 200 day moving average is $23.37. 8X8 has a twelve month low of $15.13 and a twelve month high of $26.67. The company has a quick ratio of 4.02, a current ratio of 4.02 and a debt-to-equity ratio of 1.00.

A number of research analysts recently weighed in on the stock. Needham & Company LLC increased their price objective on shares of 8X8 from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Craig Hallum restated a “hold” rating and set a $25.00 price objective (up previously from $19.00) on shares of 8X8 in a research report on Thursday, July 18th. ValuEngine downgraded shares of 8X8 from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 2nd. BidaskClub downgraded shares of 8X8 from a “hold” rating to a “sell” rating in a research report on Tuesday, September 17th. Finally, Oppenheimer set a $29.00 price target on shares of 8X8 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Three analysts have rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company’s stock. 8X8 currently has a consensus rating of “Hold” and an average target price of $25.11.

In related news, CEO Vikram Verma bought 3,060 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was bought at an average cost of $23.99 per share, with a total value of $73,409.40. Following the completion of the purchase, the chief executive officer now owns 2,464 shares of the company’s stock, valued at approximately $59,111.36. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Dejan Deklich sold 7,593 shares of the firm’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $22.60, for a total transaction of $171,601.80. Following the transaction, the executive vice president now directly owns 9,428 shares of the company’s stock, valued at $213,072.80. The disclosure for this sale can be found here. Corporate insiders own 3.00% of the company’s stock.

About 8X8

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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Earnings History for 8X8 (NYSE:EGHT)

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