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

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

8X8 Stock Performance

Shares of EGHT stock traded up $0.12 during mid-day trading on Tuesday, reaching $2.84. 1,027,797 shares of the company’s stock traded hands, compared to its average volume of 845,171. The company has a debt-to-equity ratio of 3.26, a quick ratio of 1.18 and a current ratio of 1.18. The firm has a market capitalization 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. 8X8 has a 12 month low of $1.51 and a 12 month high of $3.41. The firm has a 50 day moving average price of $2.82 and a two-hundred day moving average price of $2.44.

Wall Street Analyst Weigh In

EGHT has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of 8X8 from a “buy” rating to a “strong-buy” rating in a report on Tuesday, January 28th. Rosenblatt Securities cut their target price on 8X8 from $3.50 to $3.30 and set a “buy” rating on the stock in a research note on Monday. Wells Fargo & Company boosted their price target on 8X8 from $1.50 to $2.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of 8X8 in a research report on Saturday. Finally, Morgan Stanley boosted their target price on 8X8 from $2.00 to $2.60 and gave the stock an “underweight” rating in a research report on Wednesday, December 18th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target 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.