As of Wednesday close, 8×8 Inc.’s (NASDAQ:EGHT) stock was down -$0.01, moving down -0.32 percent to $3.12. The average number of shares traded per day over the past five days has been 1,129,140 shares. 1 time new highs have been achieved over the past 5 days. In the last twenty days, the average volume was 2,015,020, while in the previous 50 days, it was 1,532,736.
Since last month, EGHT stock retreated -35.14%. Shares of the company fell to $2.76 on 08/09/23, the lowest level in the past month. A 52-week high of $6.49 was reached on 02/08/23 after having rallying from a 52-week low of $2.50. Since the beginning of this year, EGHT’s stock price has dropped by -27.78% or -$1.20, and marked a new high 9 times. However, the stock has declined by -51.93% since its 52-week high.
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EGHT stock investors should be aware that 8×8 Inc. (EGHT) stock had its last reported insider trading activity 15 days ago on Aug 16. Middleton Hunter, the Chief Product Officer of the company, disposed of 415 shares for $3.47 on Aug 16. It resulted in a $1,440 divestment by the insider. Kraus Kevin sold 404 shares at an average price of $3.47 on Aug 16. The insider now owns 337,498 shares following the transaction. On Aug 15, Chief Executive Officer Wilson Samuel C. sold 2,000 shares at $3.57 apiece. The transaction was valued at $7,140.
Valuation Metrics
The stock’s beta is 1.31. Besides these, the trailing price-to-sales (P/S) ratio of 0.52, the price-to-book (PB) ratio of 3.47, and the price-to-cash flow ratio of 7.13 may also be considered.
Financial Health
In the three months ended June 29, 8×8 Inc.’s quick ratio stood at 1.20, while its current ratio was 1.20, 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 June 29 was 3.88, and the total debt-to-equity ratio was 4.48. On the profitability front, the trailing twelve-month gross margin is 69.00% percent. In the year ended June 29, EBITDA margin amounted to -1.13%, whereas operating margins totaled -3.30%. Based on annual data, EGHT earned $502.46 million in gross profit and brought in $743.94 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 -8.50%. Return on equity (ROE) for the past 12 months was -65.80%.
In 8×8 Inc.’s quarter-end financial report for June 29, it reported total debt of $209.53 million. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. EGHT’s revenue fell -2.36% to $184.53 million during the quarter, while net income inched up to $183.29 million. While analysts expected 8×8 Inc. to report $0.13 quarterly earnings, the actual figure was $0.13 per share. During the quarter, the company generated $22.23 million in EBITDA. The liabilities of 8×8 Inc. were 723.59 million at the end of its most recent quarter ended June 29, and its total debt was $543.94 million. The value of shareholders’ equity is $119.95 million.
Technical Picture
This quick technical analysis looks at 8×8 Inc.’s (EGHT) price momentum. With a historical volatility rate of 54.69%, the RSI 9-day stood at 34.75% on 30 August.
At present, EGHT shares trade -32.76% below its 20-day simple moving average and -20.00% percent below its 100-day simple moving average. However, the stock is currently trading approximately -18.11% below its SMA50 and -22.96% below its SMA200.
Stochastic coefficient K was 24.22% and Stochastic coefficient D was 20.88%, while ATR was 0.22. Given the Stochastic reading of 22.37% for the 14-day period, the RSI (14) reading has been calculated as 35.55%. As of today, the MACD Oscillator reading stands at -0.04, while the 14-day reading stands at -0.17.
Analyst Ratings
8×8 Inc. downgraded its rating on 8×8 Inc. (NASDAQ: EGHT) to a Hold in a note to investors on August 09, 2023. The analysts firm previously had a Buy rating on the stock.8×8 Inc. (EGHT) has been rated Hold by analysts. According to 1 brokerage firm, EGHT is a sell, and 8 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 4 recommending it as overweight.
With a median target price of $4.25, the current consensus forecast for the stock is $3.00 – $7.00. Based on these forecasts, analysts predict 8×8 Inc. (EGHT) will achieve an average price target of $4.85.
