8x8 plunges as Q1 results show 'competitive noise,' Baird says

seekingalpha08-09

Shares of 8x8 (NASDAQ:EGHT) plunged more than 28% on Thursday as the cloud communication software company's first-quarter results and guidance highlighted "competitive noise," investment firm Baird ...

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In conjunction with the first-quarter results, 8x8 lowered its full-year guidance, which Baird analyst said William Power was reflective of heightened competitive noise.\"  \"While positive on some of the new growth initiatives, with flattish growth and continued competitive risks, we are maintaining our Neutral rating,\" Power wrote in an investor note. Power also has a $3 price target on the stock. While the company is facing increased competition, Power said that 8x8's new products helped the company, as revenue attributed to them grew more than 40% year-over-year. \"Innovation continues to be a focal point, with new products likely being a key to potentially returning to [overall] revenue growth sometime in [fiscal 2025],\" Power added.","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"EGHT":"8x8 Inc","BK4023":"应用软件"},"translate_title":"贝尔德表示，第一季度业绩显示“竞争噪音”，8x8股价暴跌","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"EGHT":1},"content_text":"Shares of 8x8 (NASDAQ:EGHT) plunged more than 28% on Thursday as the cloud communication software company's first-quarter results and guidance highlighted \"competitive noise,\" investment firm Baird said. In conjunction with the first-quarter results, 8x8 lowered its full-year guidance, which Baird analyst said William Power was reflective of heightened competitive noise.\"  \"While positive on some of the new growth initiatives, with flattish growth and continued competitive risks, we are maintaining our Neutral rating,\" Power wrote in an investor note. Power also has a $3 price target on the stock. While the company is facing increased competition, Power said that 8x8's new products helped the company, as revenue attributed to them grew more than 40% year-over-year. \"Innovation continues to be a focal point, with new products likely being a key to potentially returning to [overall] revenue growth sometime in [fiscal 2025],\" Power added.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.27.0","shortVersion":"4.27.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2458732988"}