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

8X8 (NASDAQ:EGHT) released its earnings results on Tuesday. The company reported $0.04 EPS for the quarter, topping the consensus estimate 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 Trading Up 4.4 %

NASDAQ:EGHT traded up $0.12 during midday trading on Tuesday, hitting $2.84. 1,027,797 shares of the company traded hands, compared to its average volume of 845,171. The firm has a market capitalization of $371.07 million, a P/E ratio of -5.16, a P/E/G ratio of 24.05 and a beta of 1.66. The firm’s fifty day moving average is $2.82 and its 200-day moving average is $2.44. 8X8 has a 12-month low of $1.51 and a 12-month high of $3.41. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 3.26.

Analysts Set New Price Targets

EGHT has been the topic of a number of research reports. Wedbush upgraded shares of 8X8 to a “hold” rating in a report on Thursday, October 17th. Wells Fargo & Company boosted their target price on 8X8 from $1.50 to $2.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 5th. Mizuho cut 8X8 from a “neutral” rating to an “underperform” rating and cut their price target for the company from $2.75 to $2.50 in a report on Friday, December 13th. StockNews.com raised 8X8 from a “buy” rating to a “strong-buy” rating in a report on Tuesday, January 28th. Finally, Barclays increased their target price on 8X8 from $2.00 to $2.50 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Three analysts have rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $2.84.

8X8 Company Profile

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.