8X8 Inc. (NASDAQ:EGHT) saw a downside of -1.20% to close Tuesday at $2.47 after subtracting -$0.03 on the day. The 5-day average trading volume is 2,681,440 shares of the company’s common stock. It has gained $2.55 in the past week and touched a new high 3 times within the past 5 days. An average of 3,997,080 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 2,600,808.
EGHT’s 1-month performance is -16.55% or -$0.49 on its low of $2.37 reached on 09/21/23. The company’s shares have touched a 52-week low of $2.37 and high of $6.49, with the stock’s rally to the 52-week high happening on 02/08/23. YTD, EGHT has lost -42.82% or -$1.85 and has reached a new high 9 times. However, the current price is down -61.94% from the 52-week high price.
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Insider Transactions
EGHT stock investors last saw insider trading activity on Sep 19.Denny Laurence (Chief Legal Officer) most recently sold 178 shares at $2.51 per share on Sep 19. This transaction cost the insider $447. Chief Product Officer, Middleton Hunter, sold 8,674 shares at a price of $2.51 on Sep 18. Then, on Sep 18, Chief Financial Officer Kraus Kevin sold 5,715 shares at a price of $2.51 per share. This transaction amounted to $14,360.
Valuation Metrics
EGHT stock has a beta of 1.35. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 0.40 while the price-to-book (PB) in the most recent quarter is 2.81, with the price to cash flow ratio at 4.41.
8X8 Inc.’s quick ratio for the period ended June 29 was 1.00, with the current ratio over the same period at 1.00. As well, the company’s long term debt to equity for the quarter ending June 29 was 4.48, while the total debt to equity was 5.19.. In terms of profitability, the gross margin trailing 12 months is 68.52%. The trailing 12-month EBITDA margin is -1.13% while for the period ending June 29, 8X8 Inc.’s operating margin was -5.40%. The firm’s gross profit as reported stood at $502.46 million against revenue of $743.94 million.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income shrunk -69.86% to -$15.33 million, while revenue of -$9.43 million was 38.49% off the previous quarter. Analysts expected EGHT to announce $0.13 per share in earnings in its latest quarter, but it posted $0.13, representing a 0.00% surprise. EBITDA for the quarter stood at more than $22.23 million. EGHT stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 723.59 million, with total debt at $543.94 million. Shareholders hold equity totaling $119.95 million.
Let’s look briefly at 8X8 Inc. (EGHT) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 26 September was 30.94% to suggest the stock is trending Neutral, with historical volatility in this time period at 29.52%.
The stock’s 5-day moving average is $2.47, reflecting a -1.20% or -$0.03 change from its current price. EGHT is currently trading -19.02% above its 20-day SMA, -8.18% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -44.74% and SMA200 by-41.19%.
Stochastic %K and %D was 17.80% and 14.10% and the average true range (ATR) pointed at 0.16. The RSI (14) points at 31.16%, while the 14-day stochastic is at 21.28% with the period’s ATR at 0.18. The stock’s 9-day MACD Oscillator is pointing at -0.04 and -0.08 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for 8X8 Inc. (NASDAQ: EGHT), Craig Hallum downgraded it to a Hold rating. They previously had a Buy rating on the stock. Analysts offering their rating for EGHT stock have a consensus rating for the stock as Hold. Currently, 1 brokerage advisors rate EGHT as a “sell,”, while 8 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 4 have offered a “buy” rating.
What is EGHT’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $3.00 and a high of $7.00, with their median price target at $4.25. Looking at these predictions, the average price target given by analysts is for 8X8 Inc. (EGHT) stock is $4.85.
