$154.88 Million in Sales Expected for 8×8, Inc. (NYSE:EGHT) This Quarter

Equities research analysts expect that 8×8, Inc. (NYSE:EGHT) will announce sales of $154.88 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for 8X8’s earnings, with the lowest sales estimate coming in at $153.65 million and the highest estimate coming in at $157.81 million. 8X8 posted sales of $136.69 million in the same quarter last year, which suggests a positive year-over-year growth rate of 13.3%. The firm is scheduled to report its next earnings results on Thursday, January 27th.

According to Zacks, analysts expect that 8X8 will report full-year sales of $615.61 million for the current financial year, with estimates ranging from $612.34 million to $624.61 million. For the next fiscal year, analysts expect that the firm will post sales of $711.22 million, with estimates ranging from $691.00 million to $755.35 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow 8X8.

8X8 (NYSE:EGHT) last posted its quarterly earnings data on Tuesday, November 2nd. The technology company reported $0.01 EPS for the quarter, meeting the consensus estimate of $0.01. The business had revenue of $151.56 million for the quarter, compared to analysts’ expectations of $149.48 million. 8X8 had a negative net margin of 29.50% and a negative return on equity of 87.26%. During the same period in the previous year, the firm posted ($0.28) EPS.

Several equities research analysts recently commented on EGHT shares. Barclays assumed coverage on shares of 8X8 in a research report on Wednesday, October 20th. They issued an “equal weight” rating and a $25.00 price objective on the stock. B. Riley reiterated a “neutral” rating on shares of 8X8 in a research note on Wednesday, November 3rd. Colliers Securities reiterated a “buy” rating and issued a $42.00 price target on shares of 8X8 in a research note on Wednesday, September 1st. Zacks Investment Research lowered shares of 8X8 from a “buy” rating to a “sell” rating in a research note on Monday, November 8th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $32.00 price target on shares of 8X8 in a research note on Wednesday, November 3rd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, 8X8 currently has an average rating of “Hold” and an average target price of $32.92.

In related news, CFO Samuel C. Wilson sold 2,987 shares of the company’s stock in a transaction dated Thursday, September 16th. The shares were sold at an average price of $24.07, for a total value of $71,897.09. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Dejan Deklich sold 5,599 shares of the company’s stock in a transaction dated Monday, September 27th. The shares were sold at an average price of $25.01, for a total transaction of $140,030.99. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,591 shares of company stock worth $983,398. 2.20% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Sylebra Capital Ltd boosted its holdings in 8X8 by 9.7% in the 3rd quarter. Sylebra Capital Ltd now owns 13,608,692 shares of the technology company’s stock valued at $318,307,000 after purchasing an additional 1,205,979 shares during the period. Vanguard Group Inc. lifted its holdings in shares of 8X8 by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 11,417,081 shares of the technology company’s stock worth $316,938,000 after acquiring an additional 303,279 shares during the period. ArrowMark Colorado Holdings LLC lifted its holdings in shares of 8X8 by 3.0% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 4,386,804 shares of the technology company’s stock worth $102,607,000 after acquiring an additional 126,790 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of 8X8 by 9.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,528,686 shares of the technology company’s stock worth $59,146,000 after acquiring an additional 214,168 shares during the period. Finally, Deutsche Bank AG lifted its holdings in shares of 8X8 by 24.9% during the 2nd quarter. Deutsche Bank AG now owns 2,166,586 shares of the technology company’s stock worth $60,145,000 after acquiring an additional 432,622 shares during the period. 96.42% of the stock is owned by hedge funds and other institutional investors.

EGHT traded up $0.49 during trading on Thursday, hitting $21.60. The company had a trading volume of 1,085,511 shares, compared to its average volume of 1,182,887. The company has a market capitalization of $2.46 billion, a PE ratio of -13.67 and a beta of 1.08. 8X8 has a one year low of $19.26 and a one year high of $39.17. The firm’s 50-day moving average price is $23.10 and its 200 day moving average price is $24.53. The company has a quick ratio of 2.26, a current ratio of 2.26 and a debt-to-equity ratio of 2.08.

About 8X8

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

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

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