8×8 Inc. [EGHT] moved up 0.65: Why It’s Important

8×8 Inc. [NYSE: EGHT] surged by $0.03 during the normal trading session on Tuesday and reaching a high of $4.865 during the day while it closed the day at $4.68. The company report on August 21, 2022 that 8×8 CPaaS Achieves CSA Cyber Trust Mark Certification in Singapore.


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8×8 is One of the First Companies to be Awarded the Certification.

8×8, Inc. (NYSE: EGHT), a leading integrated cloud communications platform provider, today announced that Singapore’s Cyber Security Agency (CSA) has recognised 8×8 CPaaS for its strong cybersecurity practices with the Cyber Trust mark certification. This cybersecurity certification for enterprises with more extensive digitalised business operations, distinguishes 8×8 for its robust cybersecurity practices and measures.

8×8 Inc. stock has also loss -13.81% of its value over the past 7 days. However, EGHT stock has declined by -38.82% in the 3 months of the year. Over the past six months meanwhile, it has lost -62.53% and lost -72.08% year-on date.

The market cap for EGHT stock reached $578.03 million, with 119.72 million shares outstanding and 116.20 million shares in the current float. Compared to the average trading volume of 2.21M shares, EGHT reached a trading volume of 4341665 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 $6.95 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 2.60. 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.

BofA Securities have made an estimate for 8×8 Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 08, 2022. The new note on the price target was released on August 05, 2022, representing the official price target for 8×8 Inc. stock.

The Average True Range (ATR) for 8×8 Inc. is set at 0.42, with the Price to Sales ratio for EGHT stock in the period of the last 12 months amounting to 0.85. The Price to Book ratio for the last quarter was 4.18, with the Price to Cash per share for the same quarter was set at 1.15. Price to Free Cash Flow for EGHT in the course of the last twelve months was 17.90 with Quick ratio for the last quarter at 1.60.

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 -13.81. With this latest performance, EGHT shares dropped by -12.69% in over the last four-week period, additionally sinking by -62.53% over the last 6 months – not to mention a drop of -80.57% 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 43.74, with the RSI for the last a single of trading hit 41.79, and the three-weeks RSI is set at 43.66 for 8×8 Inc. [EGHT]. The present Moving Average for the last 50 days of trading for this stock 5.20, while it was recorded at 4.92 for the last single week of trading, and 11.64 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 1.60 and a Current Ratio set at 1.60.

8×8 Inc. [EGHT]: Insider Ownership positions

There are presently around $540 million, or 96.10% of EGHT stock, in the hands of institutional investors. The top three institutional holders of EGHT stocks are: BLACKROCK INC. with ownership of 18,490,636, which is approximately 1.308% of the company’s market cap and around 2.80% of the total institutional ownership; VANGUARD GROUP INC, holding 16,456,653 shares of the stock with an approximate value of $77.02 million in EGHT stocks shares; and SYLEBRA CAPITAL LTD, currently with $66.42 million in EGHT stock with ownership of nearly 1.347% 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 125 institutional holders increased their position in 8×8 Inc. [NYSE:EGHT] by around 15,799,528 shares. Additionally, 82 investors decreased positions by around 13,223,871 shares, while 25 investors held positions by with 86,275,553 shares. The mentioned changes placed institutional holdings at 115,298,952 shares, according to the latest SEC report filing. EGHT stock had 38 new institutional investments in for a total of 3,657,958 shares, while 25 institutional investors sold positions of 1,949,139 shares during the same period.

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