8X8 Inc. (NASDAQ:EGHT) finished Friday with an addition of $0.04 to close at $2.52, an upside of 1.61 percent. An average of 1,708,240 shares of common stock have been traded in the last five days. There was a gain of $0.07 in the past week, and it reached a new high 12 times over the past 12 months. The last 20 days have seen an average of 4,011,010 shares traded, while the 50-day average volume stands at 2,621,802.
EGHT stock has decreased by -19.23% in the last month. The company shares reached their 1-month lowest point of $2.37 on 09/21/23. With the stock rallying to its 52-week high on 02/08/23, shares of the company touched a low of $2.37 and a high of $6.49 in 52 weeks. It has reached a new high 9 times so far this year and lost -41.67% or -$1.80 in price. In spite of this, the price is down -61.17% from the 52-week high.
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Insider Transactions
EGHT stock investors should be aware that 8X8 Inc. (EGHT) stock had its last reported insider trading activity 11 days ago on Sep 19. In this transaction, the insider spent $447. Chief Product Officer, Middleton Hunter, disposed of 8,674 shares at a price of $2.51 on Sep 18. The insider now owns more than $21,793 worth of shares. Prior to that, Chief Financial Officer Kraus Kevin went on to Sale 5,715 shares at $2.51 each on Sep 18. An amount of $14,360 was transacted.
Valuation Metrics
8X8 Inc. (EGHT) stock’s beta is 1.35. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.41, the price-to-book (PB) ratio at 2.87, and the price-to-cash flow ratio at 4.50.
Financial Health
The quick ratio of 8X8 Inc. for the three months ended June 29 was 1.00, and the current ratio was 1.00, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 4.48 and a total debt to equity ratio of 5.19 for the quarter ending June 29. Its gross profit as reported stood at $502.46 million compared to revenue of $743.94 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, 8X8 Inc.’s return on assets was -7.27%.
Earnings Surprise
For the three-month period that ended June 29, 8X8 Inc. had $209.53 million in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of -$15.33 million in the quarter, while revenues of -$9.43 million were shrunk -69.86%. The analyst consensus anticipated 8X8 Inc.’s latest quarter earnings to come in at $0.13 per share, but it turned out to be $0.13, a 0.00% surprise. For the quarter, EBITDA amounted to $22.23 million. Shareholders own equity worth $119.95 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at 8X8 Inc. (EGHT) price momentum. RSI 9-day as of the close on 29 September was 39.34%, suggesting the stock is Neutral, with historical volatility in this time frame at 26.62%.
As of today, EGHT’s price is $2.48 +2.86% or $0.07 from its 5-day moving average. EGHT is currently trading -22.46% lower than its 20-day SMA and -13.40% lower than its 100-day SMA. However, the stock’s current price level is -42.86% below the SMA50 and -44.00% below the SMA200.
The stochastic %K and %D were 26.36% and 22.71%, respectively, and the average true range (ATR) was 0.14. With the 14-day stochastic at 34.88% and the average true range at 0.17, the RSI (14) stands at 35.39%. The stock has reached 0.01 on the 9-day MACD Oscillator while the 14-day reading was at -0.04.
Analyst Ratings
Craig Hallum downgraded 8X8 Inc. (NASDAQ: EGHT) to a a Hold rating in its most recent analyst report. Previously, the stock was rated as a Buy. The consensus rating for 8X8 Inc. (EGHT) among analysts is Hold. 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 4 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 $3.00 and $7.00, with a median target of $4.25. Taking a look at these predictions, the average price target given by analysts for 8X8 Inc. (EGHT) stock is $4.85.
