Should You Invest in 8X8 Inc. (EGHT) Now?

The 36-month beta value for EGHT is at 1.43. Analysts have varying views on the stock, with 3 analysts rating it as a “buy,” 3 rating it as “overweight,” 5 as “hold,” and 0 as “sell.”

The public float for EGHT is 119.07M, and currently, shorts hold a 13.54% of that float. The average trading volume for EGHT on April 03, 2024 was 1.56M shares.

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EGHT) stock’s latest price update

8X8 Inc. (NASDAQ: EGHT)’s stock price has plunge by -3.36relation to previous closing price of 2.68. Nevertheless, the company has seen a -4.07% plunge in its stock price over the last five trading sessions. InvestorPlace reported 2024-03-16 that Penny stocks provide risk and profit but frequently lie in the shadows in the fast-paced world of investing. Nevertheless, three-penny stocks stand like diamonds in the dust among the chaos and uncertainties.

EGHT’s Market Performance

8X8 Inc. (EGHT) has experienced a -4.07% fall in stock performance for the past week, with a -8.16% drop in the past month, and a -31.48% drop in the past quarter. The volatility ratio for the week is 5.03%, and the volatility levels for the past 30 days are at 5.57% for EGHT. The simple moving average for the last 20 days is -6.73% for EGHT stock, with a simple moving average of -19.72% for the last 200 days.

Analysts’ Opinion of EGHT

Many brokerage firms have already submitted their reports for EGHT stocks, with Craig Hallum repeating the rating for EGHT by listing it as a “Buy.” The predicted price for EGHT in the upcoming period, according to Craig Hallum is $4.50 based on the research report published on November 02, 2023 of the previous year 2023.

Craig Hallum, on the other hand, stated in their research note that they expect to see EGHT reach a price target of $4, previously predicting the price at $7. The rating they have provided for EGHT stocks is “Hold” according to the report published on August 09th, 2023.

Rosenblatt gave a rating of “Buy” to EGHT, setting the target price at $6 in the report published on March 24th of the previous year.

EGHT Trading at -10.55% 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 -46.87% of loss for the given period.

Volatility was left at 5.57%, however, over the last 30 days, the volatility rate increased by 5.03%, as shares sank -3.72% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -25.57% lower at present.

During the last 5 trading sessions, EGHT fell by -4.07%, which changed the moving average for the period of 200-days by -34.10% in comparison to the 20-day moving average, which settled at $2.77. In addition, 8X8 Inc. saw -31.48% 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 Wilson Samuel C., who sale 13,740 shares at the price of $2.66 back on Mar 18 ’24. After this action, Wilson Samuel C. now owns 1,022,288 shares of 8X8 Inc., valued at $36,613 using the latest closing price.

Middleton Hunter, the Chief Product Officer of 8X8 Inc., sale 10,023 shares at $2.66 during a trade that took place back on Mar 18 ’24, which means that Middleton Hunter is holding 435,446 shares at $26,708 based on the most recent closing price.

Stock Fundamentals for EGHT

Current profitability levels for the company are sitting at:

  • -0.01 for the present operating margin
  • 0.7 for the gross margin

The net margin for 8X8 Inc. stands at -0.07. The total capital return value is set at -0.02. Equity return is now at value -53.51, with -6.43 for asset returns.

Based on 8X8 Inc. (EGHT), the company’s capital structure generated 0.83 points at debt to capital in total, while cash flow to debt ratio is standing at 0.15. The debt to equity ratio resting at 4.95. The interest coverage ratio of the stock is -0.24.

Currently, EBITDA for the company is -14.01 million with net debt to EBITDA at 7.31. When we switch over and look at the enterprise to sales, we see a ratio of 0.95. The receivables turnover for the company is 11.64for trailing twelve months and the total asset turnover is 0.89. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.15.

Conclusion

In conclusion, 8X8 Inc. (EGHT) has had a bad performance lately. Opinion on the stock among analysts is mixed, with some giving it a “buy” rating and others a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.

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