Earnings Estimates Rising for 8x8 (EGHT): Will It Gain?

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] Earnings Estimate Revisions - The upward trend in earnings estimate revisions indicates growing analyst optimism regarding 8x8's earnings prospects, which is expected to positively influence its stock price [2] - The consensus earnings estimate for the current quarter is $0.07 per share, reflecting a 12.5% decrease from the previous year, but has increased by 50% over the last 30 days due to one upward revision [5] - For the full year, the earnings estimate stands at $0.36 per share, showing no year-over-year change, with a positive trend in estimate revisions as one estimate has increased without any negative revisions [6] Zacks Rank and Performance - 8x8 has achieved a Zacks Rank 1 (Strong Buy), indicating strong potential for outperformance based on favorable estimate revisions [7] - Historically, Zacks Rank 1 stocks have generated an average annual return of +25% since 2008, suggesting a strong correlation between earnings estimate revisions and stock performance [3][7] Stock Performance - The stock has gained 36.5% over the past four weeks, driven by solid estimate revisions, indicating strong earnings growth prospects that may further elevate the stock price [8]