8×8 Inc. [NYSE: EGHT] loss -5.70% on the last trading session, reaching $3.97 price per share at the time. The company report on November 16, 2022 that 8×8 Conversation IQ Named a Winner for CRN’s 2022 Tech Innovator Award.
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Conversational AI Offering Helps Organizations Uncover Insights, Foster Coaching, and Ensure Consistent Experiences Across the Enterprise.
8×8, Inc. (NASDAQ: EGHT), a leading integrated cloud communications platform, today announced growing industry recognition for 8×8 Conversation IQ, with CRN®, a brand of The Channel Company, choosing it as a Winner of the 2022 CRN Tech Innovator Awards in the Unified Communications & Collaboration Software category.
8×8 Inc. represents 116.01 million in outstanding shares, while the company has a total market value of $448.69 million with the latest information. EGHT stock price has been found in the range of $3.92 to $4.53.
If compared to the average trading volume of 2.26M shares, EGHT reached a trading volume of 6182671 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 $5.42 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 2.50. 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 0.41, with the Price to Sales ratio for EGHT stock in the period of the last 12 months amounting to 0.63. The Price to Book ratio for the last quarter was 5.44, with the Price to Cash per share for the same quarter was set at 1.16. Price to Free Cash Flow for EGHT in the course of the last twelve months was 10.79 with Quick ratio for the last quarter at 1.60.
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 -6.59. With this latest performance, EGHT shares gained by 22.15% in over the last four-week period, additionally sinking by -48.10% over the last 6 months – not to mention a drop of -80.70% 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 49.62, with the RSI for the last a single of trading hit 47.23, and the three-weeks RSI is set at 49.70 for 8×8 Inc. [EGHT]. The present Moving Average for the last 50 days of trading for this stock 3.79, while it was recorded at 4.25 for the last single week of trading, and 7.19 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 -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.
An analysis of insider ownership at 8×8 Inc. [EGHT]
There are presently around $475 million, in the hands of institutional investors. The top three institutional holders of EGHT stocks are: BLACKROCK INC. with ownership of 19,743,621, which is approximately 6.776% of the company’s market cap and around 2.90% of the total institutional ownership; VANGUARD GROUP INC, holding 19,220,650 shares of the stock with an approximate value of $76.31 million in EGHT stocks shares; and SYLEBRA CAPITAL LTD, currently with $56.54 million in EGHT stock with ownership of nearly 0.356% of the company’s market capitalization.
Positions in 8×8 Inc. stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 115 institutional holders increased their position in 8×8 Inc. [NYSE:EGHT] by around 16,699,953 shares. Additionally, 91 investors decreased positions by around 11,745,120 shares, while 31 investors held positions by with 91,097,118 shares. The mentioned changes placed institutional holdings at 119,542,191 shares, according to the latest SEC report filing. EGHT stock had 28 new institutional investments in for a total of 1,131,257 shares, while 32 institutional investors sold positions of 4,248,457 shares during the same period.