Wall Street brokerages expect 8×8, Inc. (NASDAQ:EGHT) to post earnings of $0.01 per share for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for 8X8’s earnings, with the highest EPS estimate coming in at $0.02 and the lowest estimate coming in at $0.00. 8X8 reported earnings of $0.06 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 83.3%. The firm is scheduled to issue its next quarterly earnings results on Wednesday, January 24th.
On average, analysts expect that 8X8 will report full year earnings of $0.06 per share for the current year, with EPS estimates ranging from $0.06 to $0.09. For the next year, analysts expect that the business will report earnings of $0.08 per share, with EPS estimates ranging from $0.06 to $0.12. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for 8X8.
8X8 (NASDAQ:EGHT) last released its quarterly earnings results on Thursday, October 26th. The technology company reported $0.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.01. 8X8 had a negative net margin of 2.56% and a positive return on equity of 0.03%. The firm had revenue of $72.48 million for the quarter, compared to the consensus estimate of $71.65 million. During the same quarter in the previous year, the firm posted $0.06 EPS. The firm’s quarterly revenue was up 14.7% on a year-over-year basis.
8X8 (NASDAQ:EGHT) opened at $14.50 on Wednesday. The firm has a market cap of $1,300.00, a price-to-earnings ratio of -181.25 and a beta of 0.37. 8X8 has a fifty-two week low of $10.30 and a fifty-two week high of $16.80.
Several hedge funds and other institutional investors have recently bought and sold shares of EGHT. Riverhead Capital Management LLC boosted its holdings in shares of 8X8 by 85.4% in the 2nd quarter. Riverhead Capital Management LLC now owns 9,084 shares of the technology company’s stock valued at $132,000 after buying an additional 4,184 shares during the period. Flinton Capital Management LLC boosted its holdings in shares of 8X8 by 84.8% in the 2nd quarter. Flinton Capital Management LLC now owns 9,112 shares of the technology company’s stock valued at $133,000 after buying an additional 4,182 shares during the period. SG Americas Securities LLC acquired a new position in 8X8 during the 3rd quarter valued at about $139,000. Dynamic Technology Lab Private Ltd acquired a new position in 8X8 during the 3rd quarter valued at about $169,000. Finally, Pinebridge Investments L.P. boosted its stake in 8X8 by 1.8% during the 2nd quarter. Pinebridge Investments L.P. now owns 12,071 shares of the technology company’s stock valued at $176,000 after purchasing an additional 209 shares during the period. 71.56% of the stock is owned by institutional investors and hedge funds.
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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.
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