Revenue Update on 8×8(NASDAQ:EGHT)

8×8(NASDAQ:EGHT) announced the earnings results for Fiscal Year 2017 and Q1. The results came in during After-hours on Jul 21, 2016. Company reported revenue of $60.04M. Analysts estimated a revenue of $57.89M. Earnings per share were $0.06. Analysts had estimated an EPS of $0.03.

In a different note, Needham said it Initiates Coverage on 8×8, according to a research note issued on Jun 3, 2016. The shares have been rated ‘Buy’ by the firm. On May 20, 2016, Barclays said it Maintains its rating on 8×8. In the research note, the firm Raises the price-target to $12.00 per share. The shares have been rated ‘Overweight’ by the firm.

8×8 (EGHT) shares turned negative on Wednesdays trading session with the shares closing down -0.01 points or -0.07% at a volume of 5,67,262. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $15.285. The peak price level was also seen at $15.285 while the days lowest was $15.023. Finally the shares closed at $15.14. The 52-week high of the shares is $15.53 while the 52-week low is $7.35. According to the latest information available, the market cap of the company is $1,353 M.

Several Insider Transactions has been reported to the SEC. On May 26, 2016, Bryan R Martin (Chief Technology Officer) sold 43,142 shares at $12.45 per share price.Also, On Jul 28, 2015, Vikram Verma (CEO) purchased 12,300 shares at $8.09 per share price.

8×8 Inc. (8×8) offers Software as a Service (SaaS) communication solution. The Company is engaged in business cloud communications and development and use of Internet protocol voice video and data communication technologies in a true SaaS model. The 8×8 unified cloud communications solution addresses the shortcomings of legacy and point solution cloud services through its pure cloud Software as a Service offering. The Company’s Infrastructure Manager abstracts complex global interconnectivity between Voice over Internet Protocol (VoIP) and traditional public switched telephone network (PSTN) providing customers with a phone system that can reach any phone in the world whether wireless or wireline. Its Integration Manager integrates with third-party applications including Microsoft Dynamics NetSuite Zendesk and many others to provide integrated applications functionality within its communications and collaboration services.

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