8X8 Inc. (NASDAQ: EGHT) is -47.09% lower on its value in year-to-date trading and has touched a low of $1.51 and a high of $3.92 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 $1.93 in the last trading session, with the day’s gains setting it 0.07%.
Currently trading at $2.00, the stock is 6.35% and -5.32% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.93 million and changing 3.63% at the moment leaves the stock -23.23% off its SMA200. EGHT registered -23.08% loss for a year compared to 6-month loss of -20.95%. The firm has a 50-day simple moving average (SMA 50) of $2.0904 and a 200-day simple moving average (SMA200) of $2.59645.
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The stock witnessed a 9.89% gain in the last 1 month and extending the period to 3 months gives it a -11.11%, and is 2.04% 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 5.63% over the week and 5.09% over the month.
8X8 Inc. (EGHT) has around 1948 employees, a market worth around $256.66M and $723.57M in sales. Fwd P/E is 4.82. Profit margin for the company is -8.65%. Distance from 52-week low is 32.45% and -48.98% from its 52-week high. The company has generated returns on investments over the last 12 months (-10.96%).
8X8 Inc. quarterly earnings per share for the current quarter are estimated at 0.08 with sales reaching $178.36M over the same period.The EPS is expected to shrink by -29.79% this year, but quarterly earnings will post -1.10% year-over-year.
201.0 institutions hold shares in 8X8 Inc. (EGHT), with institutional investors hold 91.18% of the company’s shares. The shares outstanding are 125.19M, and float is at 124.14M with Short Float at 7.91%. Institutions hold 89.66% of the Float.
The top institutional shareholder in the company is SYLEBRA CAPITAL LLC with over 14.39 million shares valued at $31.94 million. The investor’s holdings represent 11.8817 of the EGHT Shares outstanding. As of 2024-06-30, the second largest holder is ARROWMARK COLORADO HOLDINGS LLC with 13.17 million shares valued at $29.23 million to account for 10.8722 of the shares outstanding. The other top investors are VANGUARD GROUP INC which holds 12.13 million shares representing 10.0147 and valued at over $26.93 million, while BLACKROCK INC. holds 9.2155 of the shares totaling 11.16 million with a market value of $24.78 million.
8X8 Inc. (EGHT) Insider Activity
The most recent transaction is an insider sale by Denny Laurence, the company’s Chief Legal Officer. SEC filings show that Denny Laurence sold 5,081 shares of the company’s common stock on Sep 16 ’24 at a price of $1.83 per share for a total of $9318.0. Following the sale, the insider now owns 0.28 million shares.
8X8 Inc. disclosed in a document filed with the SEC on Sep 16 ’24 that Kraus Kevin (Chief Financial Officer) sold a total of 8,995 shares of the company’s common stock. The trade occurred on Sep 16 ’24 and was made at $1.84 per share for $16511.0. Following the transaction, the insider now directly holds 0.47 million shares of the EGHT stock.
Still, SEC filings show that on Sep 16 ’24, Wilson Samuel C. (Chief Executive Officer) disposed off 26,254 shares at an average price of $1.83 for $48145.0. The insider now directly holds 1,368,959 shares of 8X8 Inc. (EGHT).
