8×8 Inc. [EGHT] is -25.27% lower this YTD. Is it still time to buy?

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8×8 Inc. [NYSE: EGHT] gained 5.79% or 1.41 points to close at $25.76 with a heavy trading volume of 1536720 shares. The company report on June 3, 2021 that Platform Housing Group Elevates Employee and Customer Engagement With 8×8 XCaaS.

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One of the UK’s Largest Housing Associations Extends 8×8 XCaaS Integrated Cloud Communications and Contact Centre Using Video Interaction to Deliver Real-time Property Repair.

8×8, Inc. (NYSE: EGHT), a leading integrated cloud communications platform provider, announced that Platform Housing Group, one of the UK’s largest housing associations, will extend their 8×8 Experience Communications as a Service (XCaaS) deployment by adding 8×8’s Communications Platform as a Service (CPaaS) Video Interaction for improved employee and customer engagement.

It opened the trading session at $24.30, the shares rose to $26.01 and dropped to $24.05, the range by which the price of stock traded the whole day. The daily chart for EGHT points out that the company has recorded 17.52% gains over the past six months. However, it is still -88.17% lower than its most recent low trading price.

If we look at the average trading volume of 1.34M shares, EGHT reached to a volume of 1536720 in the most recent trading day, which is why market watchdogs consider the stock to be active.

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 $35.75 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 2.10. 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.

Craig Hallum have made an estimate for 8×8 Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on May 11, 2021. While these analysts kept the previous recommendation, BofA Securities raised their target price to Neutral. The new note on the price target was released on April 20, 2021, representing the official price target for 8×8 Inc. stock. Previously, the target price had yet another raise from $17 to $25, while Wells Fargo kept a Underweight rating on EGHT stock. On December 11, 2020, analysts increased their price target for EGHT shares from 21 to 35.

The Average True Range (ATR) for 8×8 Inc. is set at 1.13, with the Price to Sales ratio for EGHT stock in the period of the last 12 months amounting to 5.33. The Price to Book ratio for the last quarter was 17.29, with the Price to Cash per share for the same quarter was set at 1.39.

Trading performance analysis for EGHT stock

8×8 Inc. [EGHT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 11.52. With this latest performance, EGHT shares gained by 2.26% in over the last four-week period, additionally plugging by 17.52% over the last 6 months – not to mention a rise of 79.39% 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 51.71, with the RSI for the last a single of trading hit 66.22, and the three-weeks RSI is set at 45.24 for 8×8 Inc. [EGHT]. The present Moving Average for the last 50 days of trading for this stock 28.82, while it was recorded at 24.16 for the last single week of trading, and 26.51 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 -27.10 and a Gross Margin at +56.77. 8×8 Inc.’s Net Margin is presently recorded at -31.10.

Return on Total Capital for EGHT is now -24.98, given the latest momentum, and Return on Invested Capital for the company is -29.41. Return on Equity for this stock declined to -94.29, with Return on Assets sitting at -24.01. When it comes to the capital structure of this company, 8×8 Inc. [EGHT] has a Total Debt to Total Equity ratio set at 252.14. Additionally, EGHT Total Debt to Total Capital is recorded at 71.60, with Total Debt to Total Assets ending up at 59.65. Long-Term Debt to Equity for the company is recorded at 243.54, with the Long-Term Debt to Total Capital now at 69.16.

Reflecting on the efficiency of the workforce at the company, 8×8 Inc. [EGHT] managed to generate an average of -$97,633 per employee. Receivables Turnover for the company is 8.94 with a Total Asset Turnover recorded at a value of 0.77.8×8 Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.30 and a Current Ratio set at 2.30.

8×8 Inc. [EGHT]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, 8×8 Inc. posted -0.07/share EPS, while the average EPS was predicted by analysts to be reported at -0.12/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 41.70%. 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 $2,801 million, in the hands of institutional investors. The top three institutional holders of EGHT stocks are: BLACKROCK INC. with ownership of 18,584,252, which is approximately 4.859% of the company’s market cap and around 1.10% of the total institutional ownership; SYLEBRA CAPITAL LTD, holding 12,753,228 shares of the stock with an approximate value of $328.52 million in EGHT stocks shares; and VANGUARD GROUP INC, currently with $286.29 million in EGHT stock with ownership of nearly 3.016% of the company’s market capitalization.

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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 108 institutional holders increased their position in 8×8 Inc. [NYSE:EGHT] by around 16,432,757 shares. Additionally, 113 investors decreased positions by around 15,313,530 shares, while 29 investors held positions by with 77,007,000 shares. The mentioned changes placed institutional holdings at 108,753,287 shares, according to the latest SEC report filing. EGHT stock had 35 new institutional investments in for a total of 3,179,334 shares, while 35 institutional investors sold positions of 7,095,498 shares during the same period.

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