8×8 Inc. (NYSE: EGHT): How Can A Stock Be Down -32.90% Year To Date, But Still Loser – Marketing Sentinel
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8×8 Inc. (NYSE: EGHT): How Can A Stock Be Down -32.90% Year To Date, But Still Loser

8×8 Inc. (NYSE:EGHT)’s traded shares stood at 0.47 million during the last session, with the company’s beta value hitting 1.15. At the close of trading, the stock’s price was $23.13, to imply a decrease of -2.20% or -$0.52 in intraday trading. The EGHT share’s 52-week high remains $39.17, putting it -69.35% down since that peak but still an impressive 32.9% since price per share fell to its 52-week low of $15.52. The company has a valuation of $2.50B, with an average of 0.7 million shares in intraday trading volume over the past 10 days and average of 759.91K shares over the past 3 months.

Analysts have given a consensus recommendation of an Overweight for 8×8 Inc. (EGHT), translating to a mean rating of 2.20. Of 15 analyst(s) looking at the stock, 1 analyst(s) give EGHT a Sell rating. 1 of those analysts rate the stock as Overweight while 5 advise Hold as 8 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at $0.01.

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8×8 Inc. (NYSE:EGHT) trade information

After registering a -2.20% downside in the last session, 8×8 Inc. (EGHT) has traded red over the past five days. The stock hit a weekly high of 24.23 this Friday, 10/08/21, dropping -2.20% in its intraday price action. The 5-day price performance for the stock is -4.46%, and -6.32% over 30 days. With these gigs, the year-to-date price performance is -32.90%. Short interest in 8×8 Inc. (NYSE:EGHT) saw shorts transact 15.01 million shares and set a 17.09 days time to cover.

Analysts on Wall Street suggest a consensus price target of $35.14, implying an increase of 34.18% to the stock’s current value. The extremes give us $24.00 and $50.00 for target low and target high price respectively. As such, EGHT has been trading -116.17% off suggested target high and -3.76% from its likely low.

8×8 Inc. (EGHT) estimates and forecasts

Looking at statistics comparing 8×8 Inc. share performance against respective industry, we note that the company has outperformed competitors. 8×8 Inc. (EGHT) shares are -29.61% down over the last 6 months, with its year-to-date growth rate higher than industry average at 138.46% against -2.00%. Revenue is forecast to grow 133.30% this quarter before jumping 150.00% for the next one. The rating firms project that company’s revenue will grow 14.70% compared to the previous financial year.

Revenue forecast for the current quarter as set by 13 analysts is $148.71 million. Meanwhile, for the quarter ending Dec 2021, a total of 13 analyst(s) estimate revenue growth to $153.59 million.

EGHT Dividends

8×8 Inc. has its next earnings report out between October 26 and November 01. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. 8×8 Inc. has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

8×8 Inc. (NYSE:EGHT)’s Major holders

8×8 Inc. insiders hold 2.72% of total outstanding shares, with institutional holders owning 99.74% of the shares at 102.53% float percentage. In total, 99.74% institutions holds shares in the company, led by Blackrock Inc. As of Jun 29, 2021, the company held over 17.95 million shares (or 16.03% of shares), all amounting to roughly $498.41 million.

The next major institution holding the largest number of shares is Sylebra Capital Ltd with 12.4 million shares, or about 11.07% of shares outstanding. As of the market price on Jun 29, 2021, these shares were worth $344.3 million.

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We also have iShares Core S&P Smallcap ETF and Vanguard Total Stock Market Index Fund as the top two Mutual Funds with the largest holdings of the 8×8 Inc. (EGHT) shares. Going by data provided on Jun 29, 2021, iShares Core S&P Smallcap ETF holds roughly 7.41 million shares. This is just over 6.62% of the total shares, with a market valuation of $205.84 million. Data from the same date shows that the other fund manager holds a little less at 2.86 million, or 2.56% of the shares, all valued at about 92.87 million.

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