8×8 Inc. [EGHT] Is Currently -4.76 below its 200 Period Moving Avg: What Does This Mean?

8×8 Inc. [NASDAQ: EGHT] price plunged by -4.76 percent to reach at -$0.15. The company report on September 5, 2023 at 3:05 AM that 8×8 Launches New SMS Fraud Prevention Communication API.

8×8 Omni Shield CPaaS Solution Enables Enterprises to Proactively Safeguard Customers Against Artificial Inflation of Traffic Attacks.

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8×8, Inc. (NASDAQ: EGHT), a leading integrated cloud contact center, unified communications and Communications Platform as a Service (CPaaS) platform provider, today announced the 8×8 Omni Shield solution, allowing enterprises to proactively safeguard their customers from fraudulent SMS activity. The new SMS fraud prevention communication API is part of the 8×8 CPaaS portfolio, which helps enterprises drive business growth by integrating various communication channels, including SMS, voice, chat apps, and video interaction, to enhance customer experience.

A sum of 6617292 shares traded at recent session while its average daily volume was at 1.56M shares. 8×8 Inc. shares reached a high of $3.03 and dropped to a low of $2.75 until finishing in the latest session at $3.00.

The one-year EGHT stock forecast points to a potential upside of 37.37. The average equity rating for EGHT stock is currently 2.70, 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 $4.79 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 2.70. 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 August 09, 2023.

The Average True Range (ATR) for 8×8 Inc. is set at 0.25, with the Price to Sales ratio for EGHT stock in the period of the last 12 months amounting to 0.50. The Price to Book ratio for the last quarter was 3.33, with the Price to Cash per share for the same quarter was set at 1.12. Price to Free Cash Flow for EGHT in the course of the last twelve months was 6.86 with Quick ratio for the last quarter at 1.20.

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 -1.64. With this latest performance, EGHT shares dropped by -34.21% in over the last four-week period, additionally sinking by -43.93% over the last 6 months – not to mention a drop of -37.11% 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 34.75, with the RSI for the last a single of trading hit 33.23, and the three-weeks RSI is set at 37.09 for 8×8 Inc. [EGHT]. The present Moving Average for the last 50 days of trading for this stock 3.97, while it was recorded at 3.13 for the last single week of trading, and 4.24 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 -8.91 and a Gross Margin at +67.54. 8×8 Inc.’s Net Margin is presently recorded at -9.83.

Return on Total Capital for EGHT is now -9.55, given the latest momentum, and Return on Invested Capital for the company is -11.26. Return on Equity for this stock declined to -51.82, with Return on Assets sitting at -8.35. When it comes to the capital structure of this company, 8×8 Inc. [EGHT] has a Total Debt to Total Equity ratio set at 569.41. Additionally, EGHT Total Debt to Total Capital is recorded at 85.06, with Total Debt to Total Assets ending up at 67.58. Long-Term Debt to Equity for the company is recorded at 494.90, with the Long-Term Debt to Total Capital now at 73.93.

Reflecting on the efficiency of the workforce at the company, 8×8 Inc. [EGHT] managed to generate an average of -$38,075 per employee. Receivables Turnover for the company is 10.49 with a Total Asset Turnover recorded at a value of 0.85.8×8 Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.20.

8×8 Inc. [EGHT] Institutonal Ownership Details

The top three institutional holders of EGHT stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in EGHT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in EGHT stock with ownership which is approximately 5.7381%.

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