8X8 (NASDAQ:EGHT – Get Free Report) issued an update on its FY25 earnings guidance on Wednesday morning. The company provided EPS guidance of $0.37-0.45 for the period, compared to the consensus EPS 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.
Wall Street Analysts Forecast Growth
EGHT has been the topic of several recent research reports. Rosenblatt Securities restated a buy rating and set a $4.00 price target on shares of 8X8 in a report on Monday, March 18th. Morgan Stanley lowered their target price on shares of 8X8 from $3.80 to $3.00 and set an equal weight rating on the stock in a research report on Wednesday, April 17th. Finally, Needham & Company LLC reissued a buy rating and issued a $5.00 price objective on shares of 8X8 in a research note on Thursday, February 1st. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $3.68.
Check Out Our Latest Stock Analysis on 8X8
8X8 Price Performance
Insiders Place Their Bets
In related news, CEO Samuel C. Wilson sold 13,740 shares of the company’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 transaction, the chief executive officer now owns 1,022,288 shares of the company’s stock, valued at $2,719,286.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders sold 32,289 shares of company stock valued at $81,979. Corporate insiders own 1.08% of the company’s stock.
8X8 Company Profile
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.
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