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

Wall Street brokerages expect 8×8, Inc. (NASDAQ:EGHT) to post earnings of $0.01 per share for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for 8X8’s earnings, with the highest EPS estimate coming in at $0.02 and the lowest estimate coming in at $0.00. 8X8 reported earnings of $0.06 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 83.3%. The firm is scheduled to issue its next quarterly earnings results on Wednesday, January 24th.

On average, analysts expect that 8X8 will report full year earnings of $0.06 per share for the current year, with EPS estimates ranging from $0.06 to $0.09. For the next year, analysts expect that the business will report earnings of $0.08 per share, with EPS estimates ranging from $0.06 to $0.12. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for 8X8.

8X8 (NASDAQ:EGHT) last released its quarterly earnings results on Thursday, October 26th. The technology company reported $0.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.01. 8X8 had a negative net margin of 2.56% and a positive return on equity of 0.03%. The firm had revenue of $72.48 million for the quarter, compared to the consensus estimate of $71.65 million. During the same quarter in the previous year, the firm posted $0.06 EPS. The firm’s quarterly revenue was up 14.7% on a year-over-year basis.

Several research analysts have weighed in on EGHT shares. Robert W. Baird reissued a “buy” rating and set a $17.00 price objective on shares of 8X8 in a report on Friday, November 17th. ValuEngine raised shares of 8X8 from a “sell” rating to a “hold” rating in a report on Friday, September 1st. B. Riley reissued a “hold” rating and set a $14.00 price objective on shares of 8X8 in a report on Tuesday, October 24th. William Blair reissued a “hold” rating on shares of 8X8 in a report on Friday, November 17th. Finally, Summit Redstone lowered shares of 8X8 from a “buy” rating to a “hold” rating in a report on Friday, October 27th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. 8X8 presently has an average rating of “Buy” and an average price target of $17.30.

8X8 (NASDAQ:EGHT) opened at $14.50 on Wednesday. The firm has a market cap of $1,300.00, a price-to-earnings ratio of -181.25 and a beta of 0.37. 8X8 has a fifty-two week low of $10.30 and a fifty-two week high of $16.80.

Several hedge funds and other institutional investors have recently bought and sold shares of EGHT. Riverhead Capital Management LLC boosted its holdings in shares of 8X8 by 85.4% in the 2nd quarter. Riverhead Capital Management LLC now owns 9,084 shares of the technology company’s stock valued at $132,000 after buying an additional 4,184 shares during the period. Flinton Capital Management LLC boosted its holdings in shares of 8X8 by 84.8% in the 2nd quarter. Flinton Capital Management LLC now owns 9,112 shares of the technology company’s stock valued at $133,000 after buying an additional 4,182 shares during the period. SG Americas Securities LLC acquired a new position in 8X8 during the 3rd quarter valued at about $139,000. Dynamic Technology Lab Private Ltd acquired a new position in 8X8 during the 3rd quarter valued at about $169,000. Finally, Pinebridge Investments L.P. boosted its stake in 8X8 by 1.8% during the 2nd quarter. Pinebridge Investments L.P. now owns 12,071 shares of the technology company’s stock valued at $176,000 after purchasing an additional 209 shares during the period. 71.56% of the stock is owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION WARNING: This news story was posted by Week Herald and is the property of of Week Herald. If you are accessing this news story on another publication, it was stolen and reposted in violation of U.S. and international copyright and trademark laws. The legal version of this news story can be accessed at https://weekherald.com/2017/12/27/0-01-earnings-per-share-expected-for-8x8-inc-eght-this-quarter.html.

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.

Get a free copy of the Zacks research report on 8X8 (EGHT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for 8X8 (NASDAQ:EGHT)

Receive News & Ratings for 8X8 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 8X8 and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply