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8x8 (EGHT) Boosts Portfolio Through the SellWith8 Introduction
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8x8 (EGHT - Free Report) is making significant strides in expanding its portfolio within the integrated cloud communications sector with the latest introduction of SellWith8.
This innovative initiative represents an exclusive tier within the 8x8 Technology Partner Ecosystem program. This enables select technology partners to address crucial business challenges by seamlessly integrating advanced technologies, including advanced AI capabilities, into the 8x8 platform.
The SellWith8 tier bolsters the 8x8 Technology Partner Ecosystem's customer-centric approach, empowering select partners with direct collaboration opportunities, roadmap alignment, co-development and joint go-to-market initiatives for enriched customer experiences.
The program, highlighted by Awaken Intelligence as an inaugural partner, aims to transform the customer experience by making seamless, next-gen integrations accessible to organizations of all sizes through 8x8's XCaaS (Experience Communications as a Service) platform, reinforcing 8x8's leadership in cloud communications with resilience, security, and compliance.
EGHT’s shares have returned 54.1% in the past three months compared with the Zacks Computer & Technology sector’s increase of 22.6% over the same time frame. The positive momentum can be attributed to 8x8’s commitment to expanding its integrated cloud communications portfolio and enhancing customer experiences.
Adding to its innovative strides, 8x8 recently integrated AI-powered video meeting features into its XCaaS platform. This enhancement includes real-time transcriptions, smart summaries, and actionable insights, contributing to improved productivity and efficiency.
In the third quarter of fiscal 2024, 8x8 elevated its Intelligent Customer Assistant by integrating voice interactions and enhancing its conversational AI self-service capabilities for a seamless customer experience across digital and voice channels.
8x8 strong partner base, which includes Microsoft (MSFT - Free Report) , has been a key catalyst.
In the third quarter, EGHT also launched the next generation of the 8x8 Phone App for Microsoft Teams, surpassing 400,000 user licenses for 8x8 Voice for Teams, offering a cost-effective solution for native calling integration without additional software or per-user Teams Phone licenses.
EGHT's robust portfolio, featuring a variety of innovative solutions, a diversified product lineup, and a focus on customer satisfaction, is poised to drive top-line growth in the cloud communication platform.
However, the company's growing challenges in customer retention, owing to downsell and attrition in the Fuze customer base, are affecting its recurring revenue and customer count.
For third-quarter fiscal 2024, EGHT expects revenues between $180 million and $186 million. The Zacks Consensus Estimate for revenues is pegged at $183.42 million, indicating a year-over-year decline of 0.53%.
The consensus mark for earnings is pegged at 10 cents per share, unchanged in the past 30 days.
For the fiscal 2024, EGHT expects revenues between $732.5 million and $742.5 million. The Zacks Consensus Estimate for fiscal 2024 revenues is pegged at $737.59 million, indicating a 0.85% decline year over year.
Image: Bigstock
8x8 (EGHT) Boosts Portfolio Through the SellWith8 Introduction
8x8 (EGHT - Free Report) is making significant strides in expanding its portfolio within the integrated cloud communications sector with the latest introduction of SellWith8.
This innovative initiative represents an exclusive tier within the 8x8 Technology Partner Ecosystem program. This enables select technology partners to address crucial business challenges by seamlessly integrating advanced technologies, including advanced AI capabilities, into the 8x8 platform.
The SellWith8 tier bolsters the 8x8 Technology Partner Ecosystem's customer-centric approach, empowering select partners with direct collaboration opportunities, roadmap alignment, co-development and joint go-to-market initiatives for enriched customer experiences.
The program, highlighted by Awaken Intelligence as an inaugural partner, aims to transform the customer experience by making seamless, next-gen integrations accessible to organizations of all sizes through 8x8's XCaaS (Experience Communications as a Service) platform, reinforcing 8x8's leadership in cloud communications with resilience, security, and compliance.
8x8 Inc Price and Consensus
8x8 Inc price-consensus-chart | 8x8 Inc Quote
EGHT’s Expanding Portfolio Aids Prospect
EGHT’s shares have returned 54.1% in the past three months compared with the Zacks Computer & Technology sector’s increase of 22.6% over the same time frame. The positive momentum can be attributed to 8x8’s commitment to expanding its integrated cloud communications portfolio and enhancing customer experiences.
Adding to its innovative strides, 8x8 recently integrated AI-powered video meeting features into its XCaaS platform. This enhancement includes real-time transcriptions, smart summaries, and actionable insights, contributing to improved productivity and efficiency.
In the third quarter of fiscal 2024, 8x8 elevated its Intelligent Customer Assistant by integrating voice interactions and enhancing its conversational AI self-service capabilities for a seamless customer experience across digital and voice channels.
8x8 strong partner base, which includes Microsoft (MSFT - Free Report) , has been a key catalyst.
In the third quarter, EGHT also launched the next generation of the 8x8 Phone App for Microsoft Teams, surpassing 400,000 user licenses for 8x8 Voice for Teams, offering a cost-effective solution for native calling integration without additional software or per-user Teams Phone licenses.
EGHT's robust portfolio, featuring a variety of innovative solutions, a diversified product lineup, and a focus on customer satisfaction, is poised to drive top-line growth in the cloud communication platform.
However, the company's growing challenges in customer retention, owing to downsell and attrition in the Fuze customer base, are affecting its recurring revenue and customer count.
For third-quarter fiscal 2024, EGHT expects revenues between $180 million and $186 million. The Zacks Consensus Estimate for revenues is pegged at $183.42 million, indicating a year-over-year decline of 0.53%.
The consensus mark for earnings is pegged at 10 cents per share, unchanged in the past 30 days.
For the fiscal 2024, EGHT expects revenues between $732.5 million and $742.5 million. The Zacks Consensus Estimate for fiscal 2024 revenues is pegged at $737.59 million, indicating a 0.85% decline year over year.
Zacks Rank & Stocks to Consider
Currently, EGHT carries a Zacks Rank #3 (Hold).
Blackline (BL - Free Report) and Itron (ITRI - Free Report) are some better-ranked stocks that investors can consider from the broader sector, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
BL and ITRI shares have returned 20.5% and 31.9%, respectively, in the past three months.
Long-term earnings growth rates for Blackline and Itron are 50.56% and 23%, respectively.