8×8 Inc. (NASDAQ: EGHT) is -15.51% lower on its value in year-to-date trading and has touched a low of $2.50 and a high of $7.81 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The EGHT stock was last observed hovering at around $3.76 in the last trading session, with the day’s loss setting it -0.11% off its average median price target of $5.50 for the next 12 months. It is also 47.86% off the consensus price target high of $7.00 offered by 13 analysts, but current levels are -21.67% lower than the price target low of $3.00 for the same period.
Currently trading at $3.65, the stock is 16.63% and 1.30% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.07 million and changing -2.93% at the moment leaves the stock -15.44% off its SMA200. EGHT registered -52.29% loss for a year compared to 6-month loss of -8.06%. The firm has a 50-day simple moving average (SMA 50) of $1.05 and a 200-day simple moving average (SMA200) of -$55.95.
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The stock witnessed a 18.12% gain in the last 1 month and extending the period to 3 months gives it a -34.70%, and is 9.61% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 6.65% over the week and 7.28% over the month.
8×8 Inc. (EGHT) has around 2216 employees, a market worth around $412.60M and $743.90M in sales. Fwd P/E is 6.18. Profit margin for the company is -17.00%. Distance from 52-week low is 45.97% and -53.27% from its 52-week high. The company has generated returns on investments over the last 12 months (210.90%).
8×8 Inc. (EGHT) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for 8×8 Inc. (EGHT) is a “Overweight”. 13 analysts offering their recommendations for the stock have an average rating of 2.60, where 7 rate it as a Hold and 0 think it is a “Overweight”. 5 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.
8×8 Inc. is expected to release its quarterly report on 07/27/2023.The EPS is expected to grow by 1.20% this year
8×8 Inc. (EGHT) Top Institutional Holders
The shares outstanding are 113.20M, and float is at 108.08M with Short Float at 16.44%.
8×8 Inc. (EGHT) Insider Activity
A total of 25 insider transactions have happened at 8×8 Inc. (EGHT) in the last six months, with sales accounting for 23 and purchases happening 2 times. The most recent transaction is an insider sale by Wilson Samuel C., the company’s Interim Chief Executive Off. SEC filings show that Wilson Samuel C. sold 2,000 shares of the company’s common stock on May 17 at a price of $3.13 per share for a total of $6260.0. Following the sale, the insider now owns 0.75 million shares.
8×8 Inc. disclosed in a document filed with the SEC on May 16 that Middleton Hunter (Chief Product Officer) sold a total of 402 shares of the company’s common stock. The trade occurred on May 16 and was made at $3.16 per share for $1271.0. Following the transaction, the insider now directly holds 0.29 million shares of the EGHT stock.
Still, SEC filings show that on May 16, Kraus Kevin (Interim Chief Financial Off.) disposed off 402 shares at an average price of $3.16 for $1271.0. The insider now directly holds 126,917 shares of 8×8 Inc. (EGHT).
8×8 Inc. (EGHT): Who are the competitors?
The company’s main competitors (and peers) include Lumen Technologies Inc. (LUMN) that is trading -82.71% down over the past 12 months and AT&T Inc. (T) that is -23.10% lower over the same period. Verizon Communications Inc. (VZ) is -27.78% down on the 1-year trading charts.