Equities research analysts predict that 8×8, Inc. (NYSE:EGHT) will post ($0.14) earnings per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for 8X8’s earnings. 8X8 reported earnings per share of ($0.09) in the same quarter last year, which indicates a negative year over year growth rate of 55.6%. The company is expected to issue its next earnings report on Tuesday, May 12th.

On average, analysts expect that 8X8 will report full-year earnings of ($0.61) per share for the current financial year, with EPS estimates ranging from ($0.63) to ($0.60). For the next financial year, analysts anticipate that the firm will post earnings of ($0.26) per share, with EPS estimates ranging from ($0.35) to ($0.21). Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for 8X8.

8X8 (NYSE:EGHT) last announced its earnings results on Tuesday, February 4th. The technology company reported ($0.17) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.17). The company had revenue of $118.57 million for the quarter, compared to analysts’ expectations of $114.11 million. 8X8 had a negative return on equity of 49.59% and a negative net margin of 35.94%. 8X8’s quarterly revenue was up 31.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.06) earnings per share.

EGHT has been the topic of several analyst reports. Stephens reaffirmed a “buy” rating and set a $27.00 target price on shares of 8X8 in a research report on Tuesday, February 4th. Rosenblatt Securities reiterated a “hold” rating and set a $21.00 price target on shares of 8X8 in a report on Wednesday, January 22nd. B. Riley upgraded 8X8 from a “sell” rating to a “neutral” rating and set a $18.50 price target on the stock in a report on Thursday, October 24th. They noted that the move was a valuation call. Wells Fargo & Co initiated coverage on 8X8 in a report on Monday, January 27th. They set an “equal weight” rating and a $20.00 price target on the stock. Finally, ValuEngine lowered 8X8 from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 4th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $23.96.

Shares of NYSE:EGHT traded down $0.23 during mid-day trading on Friday, hitting $20.41. 565,400 shares of the company traded hands, compared to its average volume of 1,240,471. The stock has a market cap of $2.09 billion, a P/E ratio of -13.25 and a beta of 0.58. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 1.70. 8X8 has a 12-month low of $16.62 and a 12-month high of $26.67. The stock has a 50-day moving average price of $19.45 and a two-hundred day moving average price of $20.84.

In other news, CEO Vikram Verma bought 5,825 shares of the stock in a transaction on Friday, December 13th. The shares were purchased at an average cost of $16.95 per share, for a total transaction of $98,733.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.00% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of EGHT. NumerixS Investment Technologies Inc bought a new stake in shares of 8X8 in the fourth quarter valued at $35,000. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new stake in shares of 8X8 in the third quarter valued at $193,000. Envestnet Asset Management Inc. raised its stake in shares of 8X8 by 21.5% in the third quarter. Envestnet Asset Management Inc. now owns 10,552 shares of the technology company’s stock valued at $219,000 after buying an additional 1,870 shares during the period. ProShare Advisors LLC raised its stake in shares of 8X8 by 6.2% in the fourth quarter. ProShare Advisors LLC now owns 15,465 shares of the technology company’s stock valued at $283,000 after buying an additional 905 shares during the period. Finally, Oppenheimer & Co. Inc. bought a new stake in shares of 8X8 in the third quarter valued at $284,000. Hedge funds and other institutional investors own 90.42% 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.

Further Reading: What does the Dogs of the Dow mean?

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 (NYSE: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.