Why 8x8 (EGHT) Stock Is Jumping Today

NEW YORK (TheStreet) -- Shares of 8x8 (EGHT) were gaining 12.5% to $8.54 Thursday after beating analysts' estimates for revenue in the fiscal first quarter.

For the first quarter 8x8 reported earnings of 3 cents a share, in line with the Capital IQ Consensus Estimates of 3 cents a share. Revenue grew 29.8% year-over-year to $37.9 million, beating analysts' estimates of $37.46 million for the quarter.

Must read: Warren Buffett's 25 Favorite Stocks

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

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, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, deteriorating net income and disappointing return on equity."

EGHT ChartEGHT data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

More from Markets

OPEC Reaches Output Deal, But Won't Put Figure on Extra Barrels in Market

OPEC Reaches Output Deal, But Won't Put Figure on Extra Barrels in Market

Video: Stock Investors Shouldn't Fret About Oil Prices in the $60s

Video: Stock Investors Shouldn't Fret About Oil Prices in the $60s

Who Is Right: AT&T's CEO or People Obsessed With Netflix Stock?

Who Is Right: AT&T's CEO or People Obsessed With Netflix Stock?

Comcast's Brian Roberts vs. Disney's Bob Iger: Which Titan Will Nab Fox?

Comcast's Brian Roberts vs. Disney's Bob Iger: Which Titan Will Nab Fox?

Dow Set to Snap 8-Day Losing Streak as Stocks Recover, But Trade War Lingers

Dow Set to Snap 8-Day Losing Streak as Stocks Recover, But Trade War Lingers