Why 8X8 (EGHT) Stock Is Up After Hours

NEW YORK (TheStreet) -- 8X8 (EGHT) stock is gaining in post-market trading after the company posted better-than-expected earnings in its fourth quarter. 

After the bell, shares popped 6.6% to $8.54. 

Over the three months to March, the company earned 4 cents a share, a penny higher than aalysts surveyed by Thomson Reuters forecast. Revenue of $35.78 million was inline with estimates and 28.6% higher year over year. 

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TheStreet Ratings team rates 8X8 INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:

"We rate 8X8 INC (EGHT) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, expanding profit margins and increase in stock price during the past year. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity."

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