8X8 Inc. [NASDAQ: EGHT] traded at a low on Thursday, posting a -11.61 loss after which it closed the day’ session at $2.97. The company report on January 31, 2024 at 4:05 PM that 8×8, Inc. Reports Third Quarter Fiscal 2024 Financial Results.
Service Revenue of $175 million and Total Revenue of $181 million.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
Cash flow from operations increased 45% year-over-year to $22.4 million.
The results of the trading session contributed to over 4491469 shares changing hands. Over the past one week, the price volatility of 8X8 Inc. stands at 7.25% while the volatility over the past one month is 5.31%.
The market cap for EGHT stock reached $362.82 million, with 122.16 million shares outstanding and 117.22 million shares in the current float. Compared to the average trading volume of 1.58M shares, EGHT reached a trading volume of 4491469 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about 8X8 Inc. [EGHT]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for EGHT shares is $4.28 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 2.31. 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 8X8 Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 02, 2023.
The Average True Range (ATR) for 8X8 Inc. is set at 0.20, with the Price to Sales ratio for EGHT stock in the period of the last 12 months amounting to 0.49. The Price to Book ratio for the last quarter was 3.34, with the Price to Cash per share for the same quarter was set at 1.39. Price to Free Cash Flow for EGHT in the course of the last twelve months was 4.69 with Quick ratio for the last quarter at 1.07.
How has EGHT stock performed recently?
8X8 Inc. [EGHT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -16.34. With this latest performance, EGHT shares dropped by -19.07% in over the last four-week period, additionally sinking by -35.99% over the last 6 months – not to mention a drop of -36.94% 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 33.06, with the RSI for the last a single of trading hit 26.11, and the three-weeks RSI is set at 38.45 for 8X8 Inc. [EGHT]. The present Moving Average for the last 50 days of trading for this stock 3.45, while it was recorded at 3.45 for the last single week of trading, and 3.36 for the last 200 days.
8X8 Inc. [EGHT]: Deeper insight into the fundamentals
8X8 Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.07 and a Current Ratio set at 1.15.
Earnings analysis for 8X8 Inc. [EGHT]
With the latest financial reports released by the company, 8X8 Inc. posted 0.11/share EPS, while the average EPS was predicted by analysts to be reported at 0.09/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 22.20%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for EGHT.
Insider trade positions for 8X8 Inc. [EGHT]
The top three institutional holders of EGHT stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in EGHT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in EGHT stock with ownership which is approximately 5.8325%.
