8×8, Inc. (NASDAQ:EGHT) is projected to declare fiscal third quarter financial results right after the stock market’s official close on January 25, 2017. The stock lost about -3.7 percent in price since last results when it was at $15 a share. Based on the most relevant past-periods data, there is an 57.14 percent probability for this firm’s share price to go up following next quarterly results. Earnings reaction history tells us that the equity price moved up 16 times out of last 28 reported quarters. It has beaten earnings-per-share estimates 41% of the time in its last 12 earnings reports. It fell short of earnings estimates on 4 occasions, and it has met expectations 3 times.
Here’s how traders responded to EGHT earnings announcements over the past few quarters.
8×8, Inc. (EGHT) Earnings Surprises & Reaction
Given its history, the average earnings announcement surprise was 50 percent over the past four quarters. Back on October 26, 2016, it posted earnings per-share earnings at $0.01 which beat the consensus $-0.02 projection (positive surprise of150%. For the quarter, revenue came in at 63.18M versus consensus estimate of 60.86M. The stock dropped -3.67 percent the session following the earnings reports were released, and on 7th day price change was -10.33 percent.
On July 21, 2016, it reported earnings at $0 a share compared with the consensus estimate of $-0.01 per share (positive surprise of 100%). Revenue of 60.04M for that quarter was above the $57.79M analysts had expected. The stock climbed 2.95% the day following the earnings announcement, and on 7th day price change was -1.1%.
On May 19, 2016, it recorded $-0.03 a share in earnings which missed the consensus estimate of $-0.02 (negative surprise of -50%). Revenue for the quarter was $57.33M while analysts called for revenues to be $54.41M. The stock gained 7.33% the day following the earnings data was made public, and on 7th day price change was 7.24%.
On January 21, 2016, it announced earnings per share at $-0.01 versus the consensus estimate of $-0.01 per share (negative surprise of 0%). That came on revenues of $53.17M for that period. Analysts had expected $52.04M in revenue.
8×8, Inc. Earnings Estimates
As Q3 earnings announcement date approaches, Wall Street is expecting earnings per share of $0.06. The analysts’ present consensus range is $0.05-$0.07 for EPS. The market consensus range for revenue is between $68.67M and $72.23M, with an average of $70.14M.
8×8, Inc. (NASDAQ:EGHT) last ended at $14.8, sending the company’s market cap near $1.34B. The consensus 12-month price target from analysts covering the stock is $17.6. The share price has declined -6.86% from its top level in 52 weeks and dropped 3.5% this year. It recently traded at a volume of 289090 shares. The recent trading ended with the price nearly 1.37 higher for the last 5 trading days, rebounding 64.26% from its 52-week low.