8X8 (NASDAQ:EGHT) Posts Earnings Results, Beats Expectations By $0.04 EPS

8X8 (NASDAQ:EGHT) released its quarterly earnings results on Tuesday. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.04, Zacks reports. 8X8 had a negative net margin of 2.96% and a positive return on equity of 11.38%. 8X8 updated its FY 2026 guidance to 0.310-0.330 EPS and its Q3 2026 guidance to 0.080-0.090 EPS.

8X8 Stock Performance

EGHT stock traded down $0.32 during mid-day trading on Thursday, reaching $1.89. The company had a trading volume of 488,941 shares, compared to its average volume of 1,021,809. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 2.56. The stock has a market capitalization of $257.06 million, a P/E ratio of -11.78, a P/E/G ratio of 2.13 and a beta of 1.89. 8X8 has a one year low of $1.52 and a one year high of $3.52. The stock’s 50-day simple moving average is $2.01 and its two-hundred day simple moving average is $1.91.

Wall Street Analyst Weigh In

EGHT has been the subject of a number of recent analyst reports. Wall Street Zen raised shares of 8X8 from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 5th. Morgan Stanley set a $1.90 price objective on 8X8 in a research note on Friday, August 29th. Weiss Ratings restated a “sell (d-)” rating on shares of 8X8 in a research note on Wednesday, October 8th. Finally, Rosenblatt Securities restated a “buy” rating and set a $2.50 price objective on shares of 8X8 in a research note on Wednesday. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $2.49.

Institutional Investors Weigh In On 8X8

Hedge funds have recently added to or reduced their stakes in the stock. Cetera Investment Advisers bought a new stake in 8X8 in the second quarter valued at $55,000. Boothbay Fund Management LLC bought a new stake in shares of 8X8 during the second quarter valued at about $121,000. Dynamic Technology Lab Private Ltd raised its stake in shares of 8X8 by 505.2% during the first quarter. Dynamic Technology Lab Private Ltd now owns 79,147 shares of the company’s stock valued at $158,000 after purchasing an additional 66,070 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of 8X8 during the second quarter valued at about $196,000. Finally, Man Group plc raised its stake in shares of 8X8 by 35.9% during the second quarter. Man Group plc now owns 102,950 shares of the company’s stock valued at $202,000 after purchasing an additional 27,192 shares in the last quarter. 93.99% of the stock is currently owned by institutional investors.

About 8X8

8×8, Inc engages in the provision of enterprise communication solutions. It offers solutions to the business services, education, financial services, government, healthcare, and manufacturing industries. The company was founded in February 1987 and is headquartered in Campbell, CA.