8×8, Inc. EGHT reported mixed results for its third quarter on Tuesday.
The company posted quarterly earnings of 11 cents per share which beat the analyst consensus estimate of 9 cents per share. The company reported quarterly sales of $178.88 million which missed the analyst consensus estimate of $179.26 million.
"Our third quarter results highlight further progress and continued momentum in our transformation journey. We delivered solid financial performance, with record cash flow from operations and strong adoption of our AI-powered customer experience solutions, driving a 60% year-over-year increase in new products. As we move forward, our focus remains on enhancing customer value, accelerating growth, and driving long-term profitability. With a clear strategy and a strong team, I believe we are well-positioned to capitalize on the opportunities ahead," said Samuel Wilson, Chief Executive Officer at 8×8, Inc.
8×8 lowered its FY2025 sales guidance from $714.00 million-727.00 million to $713.00 million-719.00 million.
8×8 shares gained 4.4% to close at $2.84 on Tuesday.
These analysts made changes to their price targets on 8×8 following earnings announcement.
Needham analyst Ryan Koontz maintained 8×8 with a Buy and raised the price target from $3 to $3.5. Barclays analyst Ryan Macwilliams maintained 8×8 with an Equal-Weight and raised the price target from $2.5 to $3.
Considering buying EGHT stock? Here's what analysts think:
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