As of Friday close, 8×8 Inc.’s (NASDAQ:EGHT) stock was down -$0.04, moving down -1.61 percent to $2.45. The average number of shares traded per day over the past five days has been 3,055,140 shares. 1 time new highs have been achieved over the past 5 days, with a -$0.18 fall in that time frame. In the last twenty days, the average volume was 3,896,825, while in the previous 50 days, it was 2,568,992.
Since last month, EGHT stock retreated -21.47%. Shares of the company fell to $2.37 on 09/21/23, 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 $2.37. Since the beginning of this year, EGHT’s stock price has dropped by -43.29% or -$1.87, and marked a new high 9 times. However, the stock has declined by -62.25% since its 52-week high.
EGHT stock investors should be aware that 8×8 Inc. (EGHT) stock had its last reported insider trading activity 4 days ago on Sep 19. Denny Laurence, the Chief Legal Officer of the company, disposed of 178 shares for $2.51 on Sep 19. It resulted in a $447 divestment by the insider. Middleton Hunter sold 8,674 shares at an average price of $2.51 on Sep 18. The insider now owns 447,775 shares following the transaction. On Sep 18, Chief Financial Officer Kraus Kevin sold 5,715 shares at $2.51 apiece. The transaction was valued at $14,360.
Valuation Metrics
The stock’s beta is 1.35. Besides these, the trailing price-to-sales (P/S) ratio of 0.40, the price-to-book (PB) ratio of 2.72, and the price-to-cash flow ratio of 5.41 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 31.60%, the RSI 9-day stood at 26.71% on 22 September.
With respect to its five-day moving average, the current 8×8 Inc. price is down by -6.84% percent or -$0.18. At present, EGHT shares trade -19.67% below its 20-day simple moving average and -16.10% percent below its 100-day simple moving average. However, the stock is currently trading approximately -46.85% below its SMA50 and -44.06% below its SMA200.
Stochastic coefficient K was 9.79% and Stochastic coefficient D was 9.77%, while ATR was 0.18. Given the Stochastic reading of 12.12% for the 14-day period, the RSI (14) reading has been calculated as 28.98%. As of today, the MACD Oscillator reading stands at -0.08, while the 14-day reading stands at -0.16.
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.
