8X8 Inc. (NASDAQ: EGHT) is -26.19% lower on its value in year-to-date trading and has touched a low of $2.15 and a high of $4.88 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 $2.78 in the last trading session, with the day’s gains setting it 0.01%.
Currently trading at $2.79, the stock is 0.80% and -7.09% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.59 million and changing 0.36% at the moment leaves the stock -14.64% off its SMA200. EGHT registered -33.41% loss for a year compared to 6-month gain of 14.34%. The firm has a 50-day simple moving average (SMA 50) of $0.98 and a 200-day simple moving average (SMA200) of $18.49.
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The stock witnessed a 9.84% loss in the last 1 month and extending the period to 3 months gives it a -22.50%, and is 1.82% 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 5.06% over the week and 5.80% over the month.
8X8 Inc. (EGHT) has around 1921 employees, a market worth around $344.34M and $733.82M in sales. Fwd P/E is 6.19. Profit margin for the company is -7.28%. Distance from 52-week low is 29.77% and -42.77% from its 52-week high. The company has generated returns on investments over the last 12 months (-9.25%).
8X8 Inc. quarterly earnings per share for the current quarter are estimated at $0.06 with sales reaching $178.83M over the same period.The EPS is expected to grow by 39.65% this year, but quarterly earnings will post -2.10% year-over-year. Quarterly sales are estimated to shrink -3.10% in year-over-year returns.
220 institutions hold shares in 8X8 Inc. (EGHT), with institutional investors hold 97.73% of the company’s shares. The shares outstanding are 123.42M, and float is at 119.04M with Short Float at 13.36%. Institutions hold 95.32% of the Float.
The top institutional shareholder in the company is Blackrock Inc. with over 21.2 million shares valued at $89.68 million. The investor’s holdings represent 18.98% of the EGHT Shares outstanding. As of Jun 29, 2023, the second largest holder is Vanguard Group Inc with 14.66 million shares valued at $62.0 million to account for 13.12% of the shares outstanding. The other top investors are Sylebra Capital Ltd which holds 14.39 million shares representing 12.88% and valued at over $60.87 million, while ArrowMark Colorado Holdings LLC holds 11.63% of the shares totaling 12.99 million with a market value of $54.96 million.
8X8 Inc. (EGHT) Insider Activity
The most recent transaction is an insider sale by Wilson Samuel C., the company’s Chief Executive Officer. SEC filings show that Wilson Samuel C. sold 13,740 shares of the company’s common stock on Mar 18 ’24 at a price of $2.66 per share for a total of $36613.0. Following the sale, the insider now owns 1.02 million shares.
8X8 Inc. disclosed in a document filed with the SEC on Mar 18 ’24 that Middleton Hunter (Chief Product Officer) sold a total of 10,023 shares of the company’s common stock. The trade occurred on Mar 18 ’24 and was made at $2.66 per share for $26708.0. Following the transaction, the insider now directly holds 0.44 million shares of the EGHT stock.
Still, SEC filings show that on Mar 18 ’24, Denny Laurence (Chief Legal Officer) disposed off 3,498 shares at an average price of $2.66 for $9321.0. The insider now directly holds 182,649 shares of 8X8 Inc. (EGHT).
