8X8 Inc. [NASDAQ: EGHT] surged by $0.47 during the normal trading session on while it closed the day at $2.81.
8X8 Inc. stock has also gained 24.89% of its value over the past 7 days. However, EGHT stock has inclined by 0.72% in the 3 months of the year. Over the past six months meanwhile, it has lost -7.87% and lost -25.66% year-on date.
The market cap for EGHT stock reached $346.81 million, with 125.19 million shares outstanding and 120.13 million shares in the current float. Compared to the average trading volume of 1.34M shares, EGHT reached a trading volume of 3520475 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 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 $4.12 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 2.38. 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. While these analysts kept the previous recommendation, Craig Hallum dropped their target price from $7 to $4. The new note on the price target was released on August 09, 2023, representing the official price target for 8X8 Inc. stock. Previously, the target price had yet another raise to $6, while Rosenblatt analysts kept a Buy rating on EGHT stock.
The Average True Range (ATR) for 8X8 Inc. is set at 0.16, with the Price to Sales ratio for EGHT stock in the period of the last 12 months amounting to 0.48. The Price to Book ratio for the last quarter was 3.45, with the Price to Cash per share for the same quarter was set at 0.95. Price to Free Cash Flow for EGHT in the course of the last twelve months was 4.54 with Quick ratio for the last quarter at 1.15.
EGHT stock trade performance evaluation
8X8 Inc. [EGHT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 24.89. With this latest performance, EGHT shares gained by 17.08% in over the last four-week period, additionally sinking by -7.87% over the last 6 months – not to mention a drop of -6.33% 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 66.96, with the RSI for the last a single of trading hit 76.61, and the three-weeks RSI is set at 60.27 for 8X8 Inc. [EGHT]. The present Moving Average for the last 50 days of trading for this stock 2.55, while it was recorded at 2.41 for the last single week of trading, and 2.97 for the last 200 days.
8X8 Inc. [EGHT]: An insightful look at the core fundamentals
8X8 Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.15 and a Current Ratio set at 1.23.
8X8 Inc. [EGHT]: Institutional Ownership
The top three institutional holders of EGHT stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in EGHT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in EGHT stock with ownership which is approximately 5.8386%.
