8×8 Inc. (EGHT): Find Out What Insiders Are Doing

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8×8 Inc. (NYSE:EGHT) finished Wednesday with a subtraction of -$0.23 to close at $3.77, a downside of -5.75 percent. An average of 1,765,780 shares of common stock have been traded in the last five days. There was a fall of -$0.82 in the past week, and it reached a new high 4 times over the past 12 months. The last 20 days have seen an average of 2,098,575 shares traded, while the 50-day average volume stands at 2,427,808.

EGHT stock has decreased by -18.92% in the last month. The company shares reached their 1-month lowest point of $3.77 on 09/21/22. With the stock rallying to its 52-week high on 01/04/22, shares of the company touched a low of $3.98 and a high of $25.17 in 52 weeks. It has reached a new high 2 times so far this year and lost -77.51% or -$12.99 in price. In spite of this, the price is down -85.02% from the 52-week high.


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Insider Transactions

3 days have passed since 8×8 Inc. (EGHT) last reported insider trading activity. Zinn Matthew, who is SVP-CLO, Secretary, most recently acquired $428 shares at $4.18 per share on Sep 19. In this transaction, the insider spent $1,789. Chief Financial Officer, Wilson Samuel C., disposed of 2,875 shares at a price of $4.20 on Sep 19. The insider now owns more than $12,071 worth of shares. Prior to that, Chief Executive Officer Sipes David went on to Sale 4,586 shares at $4.31 each on Sep 16. An amount of $19,763 was transacted.

Valuation Metrics

8×8 Inc. (EGHT) stock’s beta is 1.24. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.72, the price-to-book (PB) ratio at 3.37, and the price-to-cash flow ratio at 15.15.

Financial Health

The quick ratio of 8×8 Inc. for the three months ended June 29 was 1.60, and the current ratio was 1.60, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 3.70 and a total debt to equity ratio of 3.70 for the quarter ending June 29. Its gross profit as reported stood at $390.57 million compared to revenue of $638.13 million.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, 8×8 Inc.’s return on assets was -19.50%.

Earnings Surprise

For the three-month period that ended June 29, 8×8 Inc. had $48.95 million in cash and short-term investments compared to $494.44 million in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$26.04 million in the quarter, while revenues of -$45.58 million were shrunk -68.63%. The analyst consensus anticipated 8×8 Inc.’s latest quarter earnings to come in at $0.03 per share, but it turned out to be $0.09, a 200.00% surprise. For the quarter, EBITDA amounted to -$2.53 million. Shareholders own equity worth $119.97 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at 8×8 Inc. (EGHT) price momentum. RSI 9-day as of the close on 21 September was 26.90%, suggesting the stock is oversold, with historical volatility in this time frame at 68.17%.

As of today, EGHT’s price is $4.18 -17.86% or -$0.82 from its 5-day moving average. EGHT is currently trading -19.44% lower than its 20-day SMA and -60.85% lower than its 100-day SMA. However, the stock’s current price level is -23.06% below the SMA50 and -78.72% below the SMA200.

The stochastic %K and %D were 3.98% and 6.80%, respectively, and the average true range (ATR) was 0.31. With the 14-day stochastic at 0.00% and the average true range at 0.33, the RSI (14) stands at 33.86%. The stock has reached -0.38 on the 9-day MACD Oscillator while the 14-day reading was at -0.50.

Analyst Ratings

BofA Securities upgraded 8×8 Inc. (NYSE: EGHT) to a a Buy rating in its most recent analyst report. Previously, the stock was rated as a Neutral. The consensus rating for 8×8 Inc. (EGHT) among analysts is Overweight. According to current brokerage recommendations, 1 brokerage firm advise that investors sell EGHT, while 8 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 6 others rate it as a “buy”.

What is EGHT’s price target for the next 12 months?

Analysts predict a range of price targets between $5.00 and $10.00, with a median target of $6.25. Taking a look at these predictions, the average price target given by analysts for 8×8 Inc. (EGHT) stock is $6.83.

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