8X8 (NASDAQ:EGHT) Releases FY 2027 Earnings Guidance

8X8 (NASDAQ:EGHT) updated its FY 2027 earnings guidance on Tuesday. The company provided EPS guidance of 0.330-0.380 for the period, compared to the consensus EPS estimate of 0.330. The company issued revenue guidance of $745.0 million-$765.0 million, compared to the consensus revenue estimate of $737.6 million. 8X8 also updated its Q2 2027 guidance to 0.070-0.080 EPS.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on EGHT. Weiss Ratings raised 8X8 from a “sell (e+)” rating to a “sell (d)” rating in a research note on Thursday, June 4th. Rosenblatt Securities upped their price target on 8X8 from $2.75 to $3.00 and gave the company a “buy” rating in a research note on Wednesday, May 20th. Finally, Zacks Research cut 8X8 from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, 8X8 presently has an average rating of “Hold” and a consensus price target of $2.45.

8X8 Trading Up 8.7%

EGHT stock traded up $0.18 during midday trading on Tuesday, reaching $2.24. The company’s stock had a trading volume of 2,189,408 shares, compared to its average volume of 1,760,796. 8X8 has a 52 week low of $1.57 and a 52 week high of $2.88. The stock has a market cap of $317.59 million, a PE ratio of 112.06, a price-to-earnings-growth ratio of 1.37 and a beta of 1.83. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.93. The business’s 50-day simple moving average is $1.90 and its 200-day simple moving average is $2.01.

Insider Activity

In other news, Director Elizabeth Harriet Theophille sold 20,207 shares of the firm’s stock in a transaction on Monday, July 27th. The stock was sold at an average price of $1.81, for a total value of $36,574.67. Following the transaction, the director directly owned 167,086 shares in the company, valued at $302,425.66. This trade represents a 10.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.13% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On 8X8

Several institutional investors have recently modified their holdings of EGHT. Bank of America Corp DE increased its position in shares of 8X8 by 31.9% in the 3rd quarter. Bank of America Corp DE now owns 6,234,230 shares of the company’s stock valued at $13,217,000 after buying an additional 1,506,586 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in 8X8 by 33.3% during the second quarter. JPMorgan Chase & Co. now owns 2,516,232 shares of the company’s stock worth $4,932,000 after acquiring an additional 628,024 shares in the last quarter. Boston Partners grew its stake in 8X8 by 7.9% in the third quarter. Boston Partners now owns 8,582,614 shares of the company’s stock valued at $18,192,000 after acquiring an additional 625,479 shares during the period. AQR Capital Management LLC grew its stake in 8X8 by 36.0% in the second quarter. AQR Capital Management LLC now owns 2,111,511 shares of the company’s stock valued at $4,139,000 after acquiring an additional 558,562 shares during the period. Finally, Marshall Wace LLP grew its stake in 8X8 by 314.6% in the fourth quarter. Marshall Wace LLP now owns 633,209 shares of the company’s stock valued at $1,247,000 after acquiring an additional 480,477 shares during the period. 93.99% of the stock is currently owned by institutional investors and hedge funds.

8X8 Company Profile

8×8, Inc (NASDAQ: EGHT) is a global provider of cloud-based enterprise communications, collaboration and contact centre solutions. The company’s unified communications as a service (UCaaS) platform integrates voice, video, chat, SMS and contact-centre capabilities into a single, software-driven solution. By combining real-time analytics, team messaging and interoperability with third-party business applications, 8×8 aims to simplify communications infrastructure for organisations of all sizes.

Founded in 1987 and headquartered in Campbell, California, 8×8 pioneered hosted VoIP services for businesses in the late 1990s and went public on the NASDAQ in 1997.