8×8 Inc. [EGHT] Revenue clocked in at $532.30 million, down -25.82% YTD: What’s Next?



8×8 Inc. [NYSE: EGHT] price surged by 3.27 percent to reach at $0.81. The company report on August 5, 2021 that 8×8, Inc. Reports First Quarter Fiscal 2022 Financial Results.

Service Revenue Growth of 21% Year-over-Year; Total ARR Grew 24% Year-over-Year.

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Raises Fiscal Full-Year 2022 Service Revenue Guidance to Approximately 14%-15% Year-over-Year Growth.

A sum of 2612856 shares traded at recent session while its average daily volume was at 1.29M shares. 8×8 Inc. shares reached a high of $26.08 and dropped to a low of $24.33 until finishing in the latest session at $25.57.

The one-year EGHT stock forecast points to a potential upside of 27.46. The average equity rating for EGHT stock is currently 2.10, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on 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 $35.25 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.

Needham have made an estimate for 8×8 Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 22, 2021. The new note on the price target was released on May 11, 2021, representing the official price target for 8×8 Inc. stock. Previously, the target price had yet another raise to $39, while BofA Securities analysts kept a Neutral rating on EGHT stock. On January 05, 2021, analysts increased their price target for EGHT shares from 17 to 25.

The Average True Range (ATR) for 8×8 Inc. is set at 0.90, with the Price to Sales ratio for EGHT stock in the period of the last 12 months amounting to 5.28. The Price to Book ratio for the last quarter was 17.16, with the Price to Cash per share for the same quarter was set at 1.39.

EGHT Stock Performance Analysis:

8×8 Inc. [EGHT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.70. With this latest performance, EGHT shares dropped by -5.26% in over the last four-week period, additionally sinking by -26.42% over the last 6 months – not to mention a rise of 54.50% 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 46.04, with the RSI for the last a single of trading hit 46.25, and the three-weeks RSI is set at 45.91 for 8×8 Inc. [EGHT]. The present Moving Average for the last 50 days of trading for this stock 25.86, while it was recorded at 25.53 for the last single week of trading, and 28.55 for the last 200 days.

Insight into 8×8 Inc. Fundamentals:

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] Insider Position Details

There are presently around $2,710 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 1.50% of the total institutional ownership; SYLEBRA CAPITAL LTD, holding 12,753,228 shares of the stock with an approximate value of $326.1 million in EGHT stocks shares; and VANGUARD GROUP INC, currently with $284.18 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 August and at the time of the August reporting period, where 107 institutional holders increased their position in 8×8 Inc. [NYSE:EGHT] by around 13,681,435 shares. Additionally, 108 investors decreased positions by around 17,614,435 shares, while 33 investors held positions by with 74,697,199 shares. The mentioned changes placed institutional holdings at 105,993,069 shares, according to the latest SEC report filing. EGHT stock had 34 new institutional investments in for a total of 3,278,848 shares, while 33 institutional investors sold positions of 6,341,467 shares during the same period.



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