S&P Smallcap 600 Index To Track 8×8 Inc. (NASDAQ:EGHT)
8×8, Inc. (NASDAQ:EGHT), the $929 million market capped service provider for firms which operate in the telephony and video streaming space had announced recently that it would soon have the distinction of being tracked by the S&P SmallCap 600 index as the stock will take the place of Prospect Capital on the index. This move my S&P SmallCap comes on the back of the steady buy sustained growth the telecom services provider has seen in its market and earnings from operations over the past few quarters.
Strong Appreciation In Stock Value
The stock is up 74 percent in the past 12 months, and has clocked annual sales of $121 million, making it one of the fastest growing companies in its market segment. On the back of such solid performance over the past three quarters, followed by the huge upside potential in its earnings, rating agency Needham had also upgraded the stock to Buy and had pegged the PT on the stock at $14 recently. It has acquired a host of high profile online customers who have been vocal about the differentiation that 8×8, Inc. (NASDAQ:EGHT) solutions brings to their business.
Customer Case Study
One of the biggest customer win story of 8×8, Inc. (NASDAQ:EGHT) was online travel portal iCruise.com. Explaining how the firm went about bagging the deal from this firm, 8×8, Inc. (NASDAQ:EGHT) CEO Vik Verma has been quoted to have said that, “We are glad to share our comprehensive cloud communications expertise with customers like iCruise.com who want to integrate their corporate telephony and contact centre capabilities with back-office CRM systems.”
The easy of implementation, in addition to the flexibility that 8×8, Inc. (NASDAQ:EGHT) its customers to implement API integration with a host of other vendor agnostic CRM solutions is one of the big standout functionalities of the firm.