8X8 (NASDAQ:EGHT) Issues FY25 Earnings Guidance

8X8 (NASDAQ:EGHT) updated its FY25 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.37-0.45 for the period, compared to the consensus estimate of $0.45. The company issued revenue guidance of $720-738 million, compared to the consensus revenue estimate of $733.21 million. 8X8 also updated its FY 2024 guidance to EPS.

8X8 Stock Down 0.4 %

NASDAQ:EGHT traded down $0.01 during mid-day trading on Wednesday, reaching $2.34. The stock had a trading volume of 1,080,714 shares, compared to its average volume of 1,398,234. 8X8 has a fifty-two week low of $2.12 and a fifty-two week high of $4.88. The business’s 50 day moving average is $2.55 and its 200 day moving average is $2.94. The company has a debt-to-equity ratio of 3.73, a current ratio of 1.31 and a quick ratio of 1.31. The stock has a market cap of $288.80 million, a P/E ratio of -5.34 and a beta of 1.46.

Analyst Ratings Changes

A number of brokerages recently commented on EGHT. Rosenblatt Securities reiterated a buy rating and issued a $4.00 price objective on shares of 8X8 in a research report on Monday, March 18th. Morgan Stanley reduced their target price 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 restated a buy rating and issued a $5.00 price target on shares of 8X8 in a research report on Thursday, February 1st. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, 8X8 presently has an average rating of Moderate Buy and an average target price of $3.68.

Insider Activity

In other 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 transaction of $36,548.40. Following the transaction, the chief executive officer now directly owns 1,022,288 shares in the company, valued at approximately $2,719,286.08. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 32,289 shares of company stock worth $81,979. 1.08% of the stock is currently owned by company insiders.

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.