Why 8x8 (EGHT) Might be Well Poised for a Surge

Core Insights - 8x8 (EGHT) shows a significant improvement in earnings outlook, making it an attractive investment option as analysts continue to raise earnings estimates for the company [1][2] Estimate Revisions - The upward trend in earnings estimate revisions indicates growing analyst optimism regarding 8x8's earnings prospects, which is expected to positively impact its stock price [2] - For the current quarter, 8x8 is projected to earn $0.08 per share, reflecting a year-over-year decline of 27.3%. However, the Zacks Consensus Estimate has increased by 33.33% over the last 30 days due to one upward revision and one downward revision [5] - For the full year, the earnings estimate is $0.32 per share, representing an 11.1% year-over-year decline. The trend for the current year is encouraging, with two estimates moving higher against one negative revision [6] Zacks Rank - 8x8 currently holds a Zacks Rank 2 (Buy), supported by favorable estimate revisions. This ranking system has a strong track record of identifying stocks that outperform the market [7] - Stocks rated Zacks Rank 1 (Strong Buy) and 2 (Buy) have historically outperformed the S&P 500, indicating a positive outlook for 8x8 [7] Stock Performance - The stock has gained 6.1% over the past four weeks, driven by solid estimate revisions, suggesting potential for further growth in earnings and stock price [8]