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We Analyzed the Future Direction of 8×8 Inc. (EGHT), Here is What We Found

8×8 Inc. (NASDAQ:EGHT) went up by 7.29% from its latest closing price compared to the recent 1-year high of $16.28. The company’s stock price has collected 1.95% of gains in the last five trading sessions.

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

Plus, the 36-month beta value for EGHT is at 1.31. Opinions of the stock are interesting as 5 analysts out of 14 who provided ratings for 8×8 Inc. declared the stock was a “buy,” while 0 rated the stock as “overweight,” 8 rated it as “hold,” and 1 as “sell.”

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The average price from analysts is $5.38, which is $0.6 above the current price. EGHT currently public float of 108.08M and currently shorts hold a 16.14% ratio of that float. Today, the average trading volume of EGHT was 2.04M shares.

EGHT’s Market Performance

EGHT stocks went up by 1.95% for the week, with a monthly jump of 4.67% and a quarterly performance of 45.37%, while its annual performance rate touched -69.83%. The volatility ratio for the week stands at 5.71% while the volatility levels for the past 30 days are set at 5.96% for 8×8 Inc. The simple moving average for the period of the last 20 days is 6.88% for EGHT stocks with a simple moving average of -15.13% for the last 200 days.

Analysts’ Opinion of EGHT

Many brokerage firms have already submitted their reports for EGHT stocks, with Wedbush repeating the rating for EGHT by listing it as a “Neutral.” The predicted price for EGHT in the upcoming period, according to Wedbush is $7 based on the research report published on December 15th of the previous year 2022.

EGHT Trading at 7.61% 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 -71.07% of loss for the given period.

Volatility was left at 5.96%, however, over the last 30 days, the volatility rate increased by 5.71%, as shares surge +2.17% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +22.34% upper at present.

During the last 5 trading sessions, EGHT rose by +1.95%, which changed the moving average for the period of 200-days by -63.06% in comparison to the 20-day moving average, which settled at $4.41. In addition, 8×8 Inc. saw 9.03% in overturn over a single year, with a tendency to cut further gains.

Insider Trading

Reports are indicating that there were more than several insider trading activities at EGHT starting from Middleton Hunter, who sale 694 shares at the price of $4.58 back on Jan 17. After this action, Middleton Hunter now owns 288,222 shares of 8×8 Inc., valued at $3,179 using the latest closing price.

Wilson Samuel C., the Interim Chief Executive Off. of 8×8 Inc., sale 2,000 shares at $4.58 during a trade that took place back on Jan 17, which means that Wilson Samuel C. is holding 784,273 shares at $9,167 based on the most recent closing price.

Stock Fundamentals for EGHT

Current profitability levels for the company are sitting at:

  • -22.64 for the present operating margin
  • +60.71 for the gross margin

The net margin for 8×8 Inc. stands at -27.48. Equity return is now at value -98.00, with -14.90 for asset returns.

The liquidity ratio also appears to be rather interesting for investors as it stands at 1.25.

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