8X8 (EGHT) to Release Quarterly Earnings on Wednesday

8X8 (NASDAQ:EGHT) is set to issue its quarterly earnings data after the market closes on Wednesday, August 7th. Analysts expect the company to announce earnings of $0.08 per share for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

8X8 (NASDAQ:EGHT) last released its earnings results on Wednesday, May 8th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. 8X8 had a negative return on equity of 7.40% and a negative net margin of 9.28%. The company had revenue of $179.41 million during the quarter, compared to analyst estimates of $178.85 million. During the same quarter in the prior year, the company earned ($0.03) earnings per share. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. On average, analysts expect 8X8 to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

8X8 Price Performance

Shares of NASDAQ:EGHT opened at $2.60 on Tuesday. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 4.02. 8X8 has a 1 year low of $1.85 and a 1 year high of $4.66. The business has a fifty day simple moving average of $2.53 and a 200 day simple moving average of $2.65. The firm has a market cap of $325.98 million, a price-to-earnings ratio of -4.73 and a beta of 1.56.

Analyst Ratings Changes

Several analysts recently issued reports on EGHT shares. StockNews.com lowered 8X8 from a “buy” rating to a “hold” rating in a report on Friday, May 10th. Wells Fargo & Company cut their target price on 8X8 from $2.00 to $1.50 and set an “underweight” rating on the stock in a report on Friday, June 21st. Needham & Company LLC restated a “buy” rating and set a $3.50 target price on shares of 8X8 in a report on Monday, May 20th. Finally, Morgan Stanley lowered 8X8 from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $3.00 to $2.00 in a report on Friday, June 14th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, 8X8 presently has an average rating of “Hold” and an average price target of $3.11.

About 8X8

8×8, Inc provides voice, video, chat, contact center, and enterprise-class application programmable interface (API) Software-as-a-Service solutions for small business, mid-market, enterprise customers, government agencies, and other organizations worldwide. It offers 8×8 Work, a self-contained end-to-end united communications solution that delivers voice services, secure video meetings, and unified messaging, including direct messages, public and private team messaging rooms, and peer-to-peer short and multimedia messaging; 8×8 Contact Center, a cloud-based contact center as-a-service solution; and 8×8 Engage, an artificial intelligence-powered solution that equips customer-facing employees outside the contact center with the tools and capabilities to deliver successful customer engagements.