8×8 Inc. [NYSE: EGHT] gained 5.61% on the last trading session, reaching $15.07 price per share at the time. 8×8 Inc. represents 102.75 million in outstanding shares, while the company has a total market value of $1.55 billion with the latest information. EGHT stock price has been found in the range of $13.9356 to $15.42.
If compared to the average trading volume of 2.35M shares, EGHT reached a trading volume of 2195444 in the most recent trading day, which is why market watchdogs consider the stock to be active.
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Here is what top equities market gurus are saying about 8×8 Inc. [EGHT]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for EGHT shares is $20.20 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on EGHT stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
B. Riley FBR have made an estimate for 8×8 Inc. shares, keeping their opinion on the stock as Sell, with their previous recommendation back on March 26, 2020. The new note on the price target was released on January 28, 2020, representing the official price target for 8×8 Inc. stock. On January 13, 2020, analysts decreased their price target for EGHT shares from 28 to 23.
The Average True Range (ATR) for 8×8 Inc. is set at 1.19, with the Price to Sales ratio for EGHT stock in the period of the last 12 months amounting to 3.48. The Price to Book ratio for the last quarter was 8.10, with the Price to Cash per share for the same quarter was set at 1.66.
Trading performance analysis for EGHT stock
8×8 Inc. [EGHT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.76. With this latest performance, EGHT shares gained by 5.53% in over the last four-week period, additionally sinking by -10.35% over the last 6 months – not to mention a drop of -39.16% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for EGHT stock in for the last two-week period is set at 48.18, with the RSI for the last a single of trading hit 51.51, and the three-weeks RSI is set at 47.95 for 8×8 Inc. [EGHT]. The present Moving Average for the last 50 days of trading for this stock 16.12, while it was recorded at 14.45 for the last single week of trading, and 18.53 for the last 200 days.
8×8 Inc. [EGHT]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and 8×8 Inc. [EGHT] shares currently have an operating margin of -35.41 and a Gross Margin at +54.91. 8×8 Inc.’s Net Margin is presently recorded at -38.63.
Return on Equity for this stock declined to -78.33, with Return on Assets sitting at -27.65.
8×8 Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.20 and a Current Ratio set at 2.20.
8×8 Inc. [EGHT]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, 8×8 Inc. posted -0.14/share EPS, while the average EPS was predicted by analysts to be reported at -0.17/share.When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 17.60%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for EGHT.
An analysis of insider ownership at 8×8 Inc. [EGHT]
There are presently around $1,477 million, or 91.25% of EGHT stock, in the hands of institutional investors. The top three institutional holders of EGHT stocks are: BLACKROCK INC. with ownership of 15,100,336, which is approximately 1.408% of the company’s market cap and around 0.30% of the total institutional ownership; VANGUARD GROUP INC, holding 10,657,417 shares of the stock with an approximate value of $152.08 million in EGHT stocks shares; and SYLEBRA CAPITAL LTD, currently with $128.38 million in EGHT stock with ownership of nearly 75.903% of the company’s market capitalization.
Positions in 8×8 Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 109 institutional holders increased their position in 8×8 Inc. [NYSE:EGHT] by around 20,153,377 shares. Additionally, 73 investors decreased positions by around 9,916,462 shares, while 28 investors held positions by with 73,433,663 shares. The mentioned changes placed institutional holdings at 103,503,502 shares, according to the latest SEC report filing. EGHT stock had 40 new institutional investments in for a total of 7,820,914 shares, while 26 institutional investors sold positions of 2,424,254 shares during the same period.