Additionally, the 36-month beta value for EGHT is 1.55. There are mixed opinions on the stock, with 3 analysts rating it as a “buy,” 3 rating it as “overweight,” 5 rating it as “hold,” and 0 rating it as “sell.”
The public float for EGHT is 125.81M and currently, short sellers hold a 8.08% ratio of that float. The average trading volume of EGHT on September 18, 2024 was 1.18M shares.
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EGHT) stock’s latest price update
8X8 Inc. (NASDAQ: EGHT)’s stock price has decreased by -1.31 compared to its previous closing price of 1.91. However, the company has seen a 5.90% increase in its stock price over the last five trading sessions. businesswire.com reported 2024-08-27 that CAMPBELL, Calif.–(BUSINESS WIRE)–8×8, Inc. (NASDAQ: EGHT) announces that industry expert Tsahi Levent-Levi and BlogGeek.me named 8×8 JaaS as a leader in the programmable video market.
EGHT’s Market Performance
8X8 Inc. (EGHT) has experienced a 5.90% rise in stock performance for the past week, with a 8.96% rise in the past month, and a 0.27% rise in the past quarter. The volatility ratio for the week is 6.50%, and the volatility levels for the past 30 days are at 5.49% for EGHT. The simple moving average for the past 20 days is 2.92% for EGHT’s stock, with a -29.62% simple moving average for the past 200 days.
Analysts’ Opinion of EGHT
Many brokerage firms have already submitted their reports for EGHT stocks, with Morgan Stanley repeating the rating for EGHT by listing it as a “Underweight.” The predicted price for EGHT in the upcoming period, according to Morgan Stanley is $2 based on the research report published on June 14, 2024 of the current year 2024.
Craig Hallum, on the other hand, stated in their research note that they expect to see EGHT reach a price target of $4.50. The rating they have provided for EGHT stocks is “Buy” according to the report published on November 02nd, 2023.
Craig Hallum gave a rating of “Hold” to EGHT, setting the target price at $4 in the report published on August 09th of the previous year.
EGHT Trading at -16.10% 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 -51.91% of loss for the given period.
Volatility was left at 5.49%, however, over the last 30 days, the volatility rate increased by 6.50%, as shares surge +14.24% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -16.96% lower at present.
During the last 5 trading sessions, EGHT rose by +5.90%, which changed the moving average for the period of 200-days by -39.00% in comparison to the 20-day moving average, which settled at $1.8433. In addition, 8X8 Inc. saw -50.13% 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 Denny Laurence, who sale 5,081 shares at the price of $1.83 back on Sep 16 ’24. After this action, Denny Laurence now owns 276,246 shares of 8X8 Inc., valued at $9,318 using the latest closing price.
Kraus Kevin, the Chief Financial Officer of 8X8 Inc., sale 8,995 shares at $1.84 during a trade that took place back on Sep 16 ’24, which means that Kraus Kevin is holding 474,275 shares at $16,511 based on the most recent closing price.
Stock Fundamentals for EGHT
Current profitability levels for the company are sitting at:
- -0.04 for the present operating margin
- 0.69 for the gross margin
The net margin for 8X8 Inc. stands at -0.09. The total capital return value is set at -0.05. Equity return is now at value -59.73, with -7.90 for asset returns.
Based on 8X8 Inc. (EGHT), the company’s capital structure generated 0.8 points at debt to capital in total, while cash flow to debt ratio is standing at 0.17. The debt to equity ratio resting at 4.04. The interest coverage ratio of the stock is -0.69.
Currently, EBITDA for the company is 34.89 million with net debt to EBITDA at 17.41. When we switch over and look at the enterprise to sales, we see a ratio of 0.81. The receivables turnover for the company is 10.43for trailing twelve months and the total asset turnover is 0.96. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.29.
Conclusion
In conclusion, 8X8 Inc. (EGHT) has seen mixed performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others rating it as 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.
