8X8 (EGHT) to Release Earnings on Wednesday

8X8 (NASDAQ:EGHT) is scheduled to announce its earnings results after the market closes on Wednesday, May 8th. Analysts expect the company to announce earnings of $0.07 per share for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.

8X8 Stock Performance

Shares of EGHT stock opened at $2.31 on Tuesday. The business’s 50-day moving average price is $2.56 and its 200-day moving average price is $2.94. 8X8 has a 12 month low of $2.12 and a 12 month high of $4.88. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 3.73. The firm has a market capitalization of $285.10 million, a price-to-earnings ratio of -5.25 and a beta of 1.46.

Insiders Place Their Bets

In other news, CEO Samuel C. Wilson sold 13,740 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $2.66, for a total transaction of $36,548.40. Following the completion of the sale, the chief executive officer now owns 1,022,288 shares of the company’s stock, valued at approximately $2,719,286.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last three months, insiders sold 32,289 shares of company stock worth $81,979. 1.08% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on EGHT shares. Rosenblatt Securities restated a “buy” rating and issued a $4.00 price target on shares of 8X8 in a research report on Monday, March 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $5.00 target price on shares of 8X8 in a research report on Thursday, February 1st. Finally, Morgan Stanley reduced their price target on 8X8 from $3.80 to $3.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 17th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, 8X8 currently has a consensus rating of “Moderate Buy” and an average target price of $3.68.

About 8X8

8×8, Inc provides voice, video, chat, contact center, and enterprise-class application programmable interface (API) Software-as-a-Service solutions for small and mid-size businesses, mid-market and larger enterprises, government agencies, and other organizations worldwide. It provides 8×8 Work, a self-contained end-to-end united communications solution that delivers enterprise voice with public switched telephone network connectivity, video meetings, and unified messaging, as well as direct messages, public and private team messaging rooms, and short and multimedia services; 8×8 Contact Center, a multi-channel cloud-based contact center solution; and 8×8 CPaaS, a set of global communications Platform-as-a-Service.