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8X8 Inc. (NASDAQ:EGHT): Buy, Sell Or Hold At $2.79?

In last trading session, 8X8 Inc. (NASDAQ:EGHT) saw 1.94 million shares changing hands with its beta currently measuring 1.49. Company’s recent per share price level of $2.79 trading at $0.02 or 0.72% at ring of the bell on the day assigns it a market valuation of $344.34M. That closing price of EGHT’s stock is at a discount of -132.62% from its 52-week high price of $6.49 and is indicating a premium of 22.94% from its 52-week low price of $2.15. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 1.81 million shares which gives us an average trading volume of 1.50 million if we extend that period to 3-months.

8X8 Inc. (NASDAQ:EGHT) trade information

Upright in the green during last session for gaining 0.72%, in the last five days EGHT remained trading in the red while hitting it’s week-highest on Friday, 02/02/24 when the stock touched $2.79 price level, adding 8.82% to its value on the day. 8X8 Inc.’s shares saw a change of -26.19% in year-to-date performance and have moved -6.06% in past 5-day. 8X8 Inc. (NASDAQ:EGHT) showed a performance of -21.19% in past 30-days. Number of shares sold short was 17.03 million shares which calculate 11.7 days to cover the short interests.

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8X8 Inc. (EGHT) estimates and forecasts

Statistics highlight that 8X8 Inc. is scoring comparatively higher than the scores of other players of the relevant industry. The company lost -15.45% of value to its shares in past 6 months, showing an annual growth rate of 39.39% while that of industry is 19.60. Apart from that, the company came raising its revenue forecast for fiscal year 2024. The company is estimating its revenue growth to decrease by -45.50% in the current quarter and calculating -23.10% decrease in the next quarter. This year revenue growth is estimated to fall -2.10% from the last financial year’s standing.

12 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $178.83 million for the same. And 10 analysts are in estimates of company making revenue of $181.28 million in the next quarter that will end on Jun 2024.

Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 11.16% during past 5 years.

EGHT Dividends

8X8 Inc. is more likely to be releasing its next quarterly report between January 30 and February 05 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

8X8 Inc. (NASDAQ:EGHT)’s Major holders

Insiders are in possession of 2.42% of company’s total shares while institution are holding 95.87 percent of that, with stock having share float percentage of 98.24%. Investors also watch the number of corporate investors in a company very closely, which is 95.87% institutions for 8X8 Inc. that are currently holding shares of the company. Blackrock Inc. is the top institutional holder at EGHT for having 21.2 million shares of worth $89.68 million. And as of Jun 29, 2023, it was holding 18.98% of the company’s outstanding shares.

The second largest institutional holder is Vanguard Group Inc, which was holding about 14.66 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 13.12% of outstanding shares, having a total worth of $62.0 million.

On the other hand, Vanguard Explorer Fund, Inc. and Vanguard Total Stock Market Index Fund are the top two Mutual Funds which own company’s shares. As of Jul 30, 2023, the former fund manager was holding 6.11 million shares of worth $28.97 million or 5.47% of the total outstanding shares. The later fund manager was in possession of 3.29 million shares on Jun 29, 2023, making its stake of worth around $13.91 million in the company or a holder of 2.95% of company’s stock.

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