Can 8×8 Inc. (EGHT) Remain Competitive? – News Heater
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Can 8×8 Inc. (EGHT) Remain Competitive?

8×8 Inc. (NYSE:EGHT) went up by 1.03% from its latest closing price compared to the recent 1-year high of $28.68. The company’s stock price has collected -18.96% of loss in the last five trading sessions. Barron’s reported on 12/10/20 that 8×8 Names Former RingCentral Exec As CEO

Is It Worth Investing in 8×8 Inc. (NYSE :EGHT) Right Now?

Plus, the 36-month beta value for EGHT is at 1.21. Opinions of the stock are interesting as 7 analysts out of 15 who provided ratings for 8×8 Inc. declared the stock was a “buy,” while 0 rated the stock as “overweight,” 7 rated it as “hold,” and 1 as “sell.”

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The average price from analysts is $15.46, which is $13.64 above the current price. EGHT currently public float of 93.59M and currently shorts hold a 11.08% ratio of that float. Today, the average trading volume of EGHT was 1.76M shares.

EGHT’s Market Performance

EGHT stocks went down by -18.96% for the week, with a monthly drop of -32.88% and a quarterly performance of -47.38%, while its annual performance rate touched -67.87%. The volatility ratio for the week stands at 9.73% while the volatility levels for the past 30 days are set at 6.83% for 8×8 Inc.. The simple moving average for the period of the last 20 days is -20.34% for EGHT stocks with a simple moving average of -57.03% for the last 200 days.

Analysts’ Opinion of EGHT

Many brokerage firms have already submitted their reports for EGHT stocks, with B. Riley Securities repeating the rating for EGHT by listing it as a “Buy.” The predicted price for EGHT in the upcoming period, according to B. Riley Securities is $13.50 based on the research report published on May 11th of the current year 2022.

BofA Securities, on the other hand, stated in their research note that they expect to see EGHT reach a price target of $18. The rating they have provided for EGHT stocks is “Neutral” according to the report published on January 28th, 2022.

Robert W. Baird gave a rating of “Neutral” to EGHT, setting the target price at $18 in the report published on January 12th of the current year.

EGHT Trading at -29.69% from the 50-Day Moving Average

After a stumble in the market that brought EGHT to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -72.73% of loss for the given period.

Volatility was left at 6.83%, however, over the last 30 days, the volatility rate increased by 9.73%, as shares sank -30.80% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -39.14% lower at present.

During the last 5 trading sessions, EGHT fell by -18.96%, which changed the moving average for the period of 200-days by -69.67% in comparison to the 20-day moving average, which settled at $9.64. In addition, 8×8 Inc. saw -53.34% in overturn over a single year, with a tendency to cut further losses.

Insider Trading

Reports are indicating that there were more than several insider trading activities at EGHT starting from Middleton Hunter, who sale 590 shares at the price of $10.81 back on Apr 18. After this action, Middleton Hunter now owns 52,338 shares of 8×8 Inc., valued at $6,375 using the latest closing price.

Zinn Matthew, the SVP-CLO, Secretary of 8×8 Inc., sale 762 shares at $10.81 during a trade that took place back on Apr 18, which means that Zinn Matthew is holding 78,661 shares at $8,233 based on the most recent closing price.

Stock Fundamentals for EGHT

Current profitability levels for the company are sitting at:

  • -27.10 for the present operating margin
  • +56.77 for the gross margin

The net margin for 8×8 Inc. stands at -31.10. The total capital return value is set at -24.98, while invested capital returns managed to touch -29.41. Equity return is now at value -119.10, with -25.10 for asset returns.

Based on 8×8 Inc. (EGHT), the company’s capital structure generated 252.14 points at debt to equity in total, while total debt to capital is 71.60. Total debt to assets is 59.65, with long-term debt to equity ratio resting at 243.54. Finally, the long-term debt to capital ratio is 69.16.

When we switch over and look at the enterprise to sales, we see a ratio of 1.93, with the company’s debt to enterprise value settled at 0.11. The receivables turnover for the company is 8.94 and the total asset turnover is 0.77. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.03.

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