8X8 (NASDAQ:EGHT) Announces Earnings Results, Beats Estimates By $0.03 EPS

8X8 (NASDAQ:EGHT) announced its quarterly earnings data on Tuesday. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.01 by $0.03, Zacks reports. 8X8 had a negative return on equity of 6.00% and a negative net margin of 9.68%.

8X8 Stock Up 4.4 %

NASDAQ EGHT traded up $0.12 during midday trading on Tuesday, hitting $2.84. 1,033,677 shares of the company traded hands, compared to its average volume of 845,640. The company has a market cap of $371.07 million, a PE ratio of -5.16, a price-to-earnings-growth ratio of 24.05 and a beta of 1.66. The company has a debt-to-equity ratio of 3.26, a current ratio of 1.18 and a quick ratio of 1.18. 8X8 has a 52 week low of $1.51 and a 52 week high of $3.41. The company’s 50-day simple moving average is $2.82 and its 200-day simple moving average is $2.44.

Analysts Set New Price Targets

A number of research firms have recently commented on EGHT. Wedbush upgraded shares of 8X8 to a “hold” rating in a report on Thursday, October 17th. Morgan Stanley upped their target price on shares of 8X8 from $2.00 to $2.60 and gave the stock an “underweight” rating in a research note on Wednesday, December 18th. Wells Fargo & Company lifted their price target on shares of 8X8 from $1.50 to $2.00 and gave the company an “underweight” rating in a research note on Tuesday, November 5th. Barclays increased their price objective on 8X8 from $2.00 to $2.50 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of 8X8 in a research report on Saturday. Three research analysts have rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $2.84.

About 8X8

8×8, Inc engages in the provision of enterprise communication solutions. It offers solutions to the business services, education, financial services, government, healthcare, and manufacturing industries. The company was founded in February 1987 and is headquartered in Campbell, CA.