8×8 Inc. [NYSE: EGHT] plunged by -$0.11 during the normal trading session on Thursday and reaching a high of $5.59 during the day while it closed the day at $5.23. The company report on July 27, 2022 that 8×8, Inc. Reports First Quarter Fiscal 2023 Financial Results.
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Service revenue increased 30% year-over-year.
8×8 Inc. stock has also loss -7.60% of its value over the past 7 days. However, EGHT stock has declined by -44.18% in the 3 months of the year. Over the past six months meanwhile, it has lost -64.45% and lost -68.79% year-on date.
The market cap for EGHT stock reached $650.35 million, with 117.54 million shares outstanding and 115.12 million shares in the current float. Compared to the average trading volume of 1.84M shares, EGHT reached a trading volume of 3229382 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say 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 $10.77 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 2.40. 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.
BTIG Research have made an estimate for 8×8 Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on July 28, 2022. The new note on the price target was released on June 24, 2022, representing the official price target for 8×8 Inc. stock. Previously, the target price had yet another raise to $13.50, while B. Riley Securities analysts kept a Buy rating on EGHT stock.
The Average True Range (ATR) for 8×8 Inc. is set at 0.37, with the Price to Sales ratio for EGHT stock in the period of the last 12 months amounting to 1.02. The Price to Book ratio for the last quarter was 3.37, with the Price to Cash per share for the same quarter was set at 1.09. Price to Free Cash Flow for EGHT in the course of the last twelve months was 21.25 with Quick ratio for the last quarter at 1.40.
EGHT stock trade performance evaluation
8×8 Inc. [EGHT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.60. With this latest performance, EGHT shares dropped by -0.76% in over the last four-week period, additionally sinking by -64.45% over the last 6 months – not to mention a drop of -79.80% 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 46.44, with the RSI for the last a single of trading hit 49.71, and the three-weeks RSI is set at 43.44 for 8×8 Inc. [EGHT]. The present Moving Average for the last 50 days of trading for this stock 6.03, while it was recorded at 5.26 for the last single week of trading, and 13.27 for the last 200 days.
8×8 Inc. [EGHT]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and 8×8 Inc. [EGHT] shares currently have an operating margin of -22.64 and a Gross Margin at +60.71. 8×8 Inc.’s Net Margin is presently recorded at -27.48.
Return on Equity for this stock declined to -102.30, with Return on Assets sitting at -22.08.
8×8 Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.40 and a Current Ratio set at 1.40.
8×8 Inc. [EGHT]: Insider Ownership positions
There are presently around $592 million, or 96.40% of EGHT stock, in the hands of institutional investors. The top three institutional holders of EGHT stocks are: BLACKROCK INC. with ownership of 18,251,844, which is approximately 5.962% of the company’s market cap and around 2.00% of the total institutional ownership; VANGUARD GROUP INC, holding 14,379,535 shares of the stock with an approximate value of $75.2 million in EGHT stocks shares; and SYLEBRA CAPITAL LTD, currently with $73.24 million in EGHT stock with ownership of nearly 1.288% of the company’s market capitalization.
Positions in 8×8 Inc. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 118 institutional holders increased their position in 8×8 Inc. [NYSE:EGHT] by around 14,453,580 shares. Additionally, 88 investors decreased positions by around 10,717,266 shares, while 27 investors held positions by with 88,013,210 shares. The mentioned changes placed institutional holdings at 113,184,056 shares, according to the latest SEC report filing. EGHT stock had 29 new institutional investments in for a total of 4,144,499 shares, while 41 institutional investors sold positions of 6,148,057 shares during the same period.