8X8 (EGHT) to Release Earnings on Wednesday

8X8 (NASDAQ:EGHT - Get Free Report) is set 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. Investors that are interested in registering for the company's conference call can do so using this link.

8X8 Price Performance

8X8 stock traded up $0.01 during mid-day trading on Wednesday, hitting $2.22. The stock had a trading volume of 1,047,224 shares, compared to its average volume of 1,412,880. The firm has a market capitalization of $273.99 million, a P/E ratio of -5.18 and a beta of 1.46. 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's 50 day moving average is $2.58 and its 200 day moving average is $2.95. 8X8 has a one year low of $2.12 and a one year high of $4.88.

Wall Street Analysts Forecast Growth

Several research firms have commented on EGHT. Rosenblatt Securities reissued a "buy" rating and set a $4.00 price objective on shares of 8X8 in a report on Monday, March 18th. Morgan Stanley dropped their price objective on shares of 8X8 from $3.80 to $3.00 and set an "equal weight" rating for the company in a report on Wednesday, April 17th. Finally, Needham & Company LLC reissued a "buy" rating and set a $5.00 price objective on shares of 8X8 in a report on Thursday, February 1st. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $3.68.

Insider Buying and Selling

In related news, CEO Samuel C. Wilson sold 13,740 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $2.66, for a total value of $36,548.40. Following the sale, the chief executive officer now directly owns 1,022,288 shares of the company's stock, valued at approximately $2,719,286.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 32,289 shares of company stock valued at $81,979 in the last ninety days. 1.08% of the stock is owned by company insiders.

About 8X8

8x8, 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 8x8 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; 8x8 Contact Center, a multi-channel cloud-based contact center solution; and 8x8 CPaaS, a set of global communications Platform-as-a-Service.