Last Week, 8×8 Inc. (EGHT) Recorded A Gain Of $50.68

As of Friday close, 8×8 Inc.’s (NYSE:EGHT) stock was up $0.53, moving up 6.84 percent to $8.28. The average number of shares traded per day over the past five days has been 2,313,300 shares. 2 times new highs have been achieved over the past 5 days, with a -$0.40 fall in that time frame. In the last twenty days, the average volume was 1,659,770, while in the previous 50 days, it was 1,752,770.

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Since last month, EGHT stock retreated -27.62%. Shares of the company fell to $7.49 on 05/12/22, the lowest level in the past month. A 52-week high of $28.68 was reached on 01/04/22 after having rallying from a 52-week low of $7.49. Since the beginning of this year, EGHT’s stock price has dropped by -50.60% or -$8.48, and marked a new high 2 times. However, the stock has declined by -71.13% since its 52-week high.

8×8 Inc. (EGHT) last reported insider trading activity 26 days ago on Apr 18. Middleton Hunter, the Chief Product Officer of the company, disposed of 590 shares for $10.81 on Apr 18. It resulted in a $6,375 divestment by the insider. Zinn Matthew sold 762 shares at an average price of $10.81 on Apr 18. The insider now owns 78,661 shares following the transaction. On Mar 18, Chief Financial Officer Wilson Samuel C. sold 846 shares at $11.49 apiece. The transaction was valued at $9,721.

Valuation Metrics

The stock’s beta is 1.21. Besides these, the trailing price-to-sales (P/S) ratio of 1.69, the price-to-book (PB) ratio of 8.04, and the price-to-cash flow ratio of 69.43 may also be considered.

Financial Health

In the three months ended March 30, 8×8 Inc.’s quick ratio stood at 3.00, while its current ratio was 3.00, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending March 30 was 3.76, and the total debt-to-equity ratio was 3.76. On the profitability front, the trailing twelve-month gross margin is 60.10% percent. In the year ended March 30, EBITDA margin amounted to -18.62%, whereas operating margins totaled -25.50%. Based on annual data, EGHT earned $302.19 million in gross profit and brought in $532.34 million in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -31.30%. Return on equity (ROE) for the past 12 months was -119.10%.

In 8×8 Inc.’s quarter-end financial report for March 30, it reported total debt of $440.99 million against cash and short-term investments of $44.55 million. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. EGHT’s revenue rose 12.86% to $151.56 million during the quarter, while net income inched up to $156.87 million. While analysts expected 8×8 Inc. to report $0 quarterly earnings, the actual figure was $0.05 per share. During the quarter, the company generated -$12.9 million in EBITDA. The liabilities of 8×8 Inc. were 638.67 million at the end of its most recent quarter ended March 30, and its total debt was $528.07 million. The value of shareholders’ equity is $118.33 million.

Technical Picture

This quick technical analysis looks at 8×8 Inc.’s (EGHT) price momentum. With a historical volatility rate of 72.33%, the RSI 9-day stood at 35.40% on 13 May.

With respect to its five-day moving average, the current 8×8 Inc. price is down by -4.61% percent or -$0.40. At present, EGHT shares trade -24.66% below its 20-day simple moving average and -50.83% percent below its 100-day simple moving average. However, the stock is currently trading approximately -32.85% below its SMA50 and -67.84% below its SMA200.

Stochastic coefficient K was 16.73% and Stochastic coefficient D was 10.57%, while ATR was 0.69. Given the Stochastic reading of 30.98% for the 14-day period, the RSI (14) reading has been calculated as 33.84%. As of today, the MACD Oscillator reading stands at -0.53, while the 14-day reading stands at -0.87.

Analyst Ratings

B. Riley Securities upgraded its rating on 8×8 Inc. (NYSE: EGHT) to a Buy in a note to investors on May 11, 2022. The analysts firm previously had a Neutral rating on the stock.8×8 Inc. (EGHT) has been rated Overweight by analysts. According to 1 brokerage firm , EGHT is a sell, and 7 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate 8×8 Inc. stock as buy, with 7 recommending it as overweight.

With a median target price of $12.00, the current consensus forecast for the stock is $8.00 – $18.00. Based on these forecasts, analysts predict 8×8 Inc. (EGHT) will achieve an average price target of $12.42.


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