8×8 Inc. (NASDAQ:EGHT) has a beta value of 1.31 and has seen 1.31 million shares traded in the last trading session. The company, currently valued at $552.46M, closed the last trade at $4.88 per share which meant it gained $0.17 on the day or 3.61% during that session. The EGHT stock price is -233.61% off its 52-week high price of $16.28 and 41.19% above the 52-week low of $2.87. If we look at the company’s 10-day average daily trading volume, we find that it stood at 0.98 million shares traded. The 3-month trading volume is 2.04 million shares.
The consensus among analysts is that 8×8 Inc. (EGHT) is an Overweight stock at the moment, with a recommendation rating of 2.60. 1 analysts rate the stock as a Sell, while 0 rate it as Overweight. 8 out of 14 have rated it as a Hold, with 5 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is $0.05.
8×8 Inc. (NASDAQ:EGHT) trade information
Sporting 3.61% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on Tuesday, 01/24/23 when the EGHT stock price touched $4.88 or saw a rise of 1.61%. Year-to-date, 8×8 Inc. shares have moved 12.96%, while the 5-day performance has seen it change 6.09%. Over the past 30 days, the shares of 8×8 Inc. (NASDAQ:EGHT) have changed 5.86%. Short interest in the company has seen 16.22 million shares shorted with days to cover at 8.29.
Wall Street analysts have a consensus price target for the stock at $5.38, which means that the shares’ value could jump 9.29% from current levels. The projected low price target is $4.00 while the price target rests at a high of $7.00. In that case, then, we find that the current price level is -43.44% off the targeted high while a plunge would see the stock lose 18.03% from current levels.
8×8 Inc. (EGHT) estimates and forecasts
Figures show that 8×8 Inc. shares have outperformed across the wider relevant industry. The company’s shares have lost -8.96% over the past 6 months, with this year growth rate of 175.00%, compared to 7.20% for the industry. Other than that, the company has, however, increased its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are 150.00% and 60.00% for the next quarter. Revenue growth from the last financial year stood is estimated to be 18.50%.
14 analysts offering their estimates for the company have set an average revenue estimate of $188.89 million for the current quarter. 14 have an estimated revenue figure of $193.35 million for the next quarter concluding in Mar 2023.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -13.92% over the past 5 years.
8×8 Inc. is expected to release its next earnings report between January 31 and February 06 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
8×8 Inc. (NASDAQ:EGHT)’s Major holders
Insiders own 3.06% of the company shares, while shares held by institutions stand at 99.04% with a share float percentage of 102.17%. Investors are also buoyed by the number of investors in a company, with 8×8 Inc. having a total of 277 institutions that hold shares in the company. The top two institutional holders are Blackrock Inc. with over 18.49 million shares worth more than $95.23 million. As of Jun 29, 2022, Blackrock Inc. held 15.41% of shares outstanding.
The other major institutional holder is Vanguard Group, Inc. (The), with the holding of over 16.46 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $84.75 million and represent 13.72% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are iShares Core S&P Smallcap ETF and Vanguard Explorer Fund, Inc. As of Sep 29, 2022, the former fund manager holds about 7.32% shares in the company for having 8.79 million shares of worth $30.31 million while later fund manager owns 4.85 million shares of worth $23.72 million as of Jul 30, 2022, which makes it owner of about 4.04% of company’s outstanding stock.