8X8 Inc. (NASDAQ:EGHT) has a beta value of 1.44 and has seen 1.62 million shares traded in the last trading session. The company, currently valued at $312.25M, closed the last trade at $2.53 per share which meant it gained $0.07 on the day or 2.85% during that session. The EGHT stock price is -92.89% off its 52-week high price of $4.88 and 15.02% above the 52-week low of $2.15. If we look at the company’s 10-day average daily trading volume, we find that it stood at 0.96 million shares traded. The 3-month trading volume is 1.54 million shares.
8X8 Inc. (NASDAQ:EGHT) trade information
Sporting 2.85% in the green in last session, the stock has traded in the red over the last five days, when the EGHT stock price touched $2.53 or saw a rise of 6.99%. Year-to-date, 8X8 Inc. shares have moved -33.07%, while the 5-day performance has seen it change -5.60%. Over the past 30 days, the shares of 8X8 Inc. (NASDAQ:EGHT) have changed -11.23%. Short interest in the company has seen 16.12 million shares shorted with days to cover at 8.89.
8X8 Inc. (EGHT) estimates and forecasts
Figures show that 8X8 Inc. shares have outperformed across the wider relevant industry. The company’s shares have gained 3.69% over the past 6 months, with this year growth rate of 39.39%, compared to 19.50% for the industry. Other than that, the company has, however, increased its growth outlook for the 2024 fiscal year revenue. Growth estimates for the current quarter are -45.50% and -23.10% for the next quarter. Revenue growth from the last financial year stood is estimated to be -2.10%.
12 analysts offering their estimates for the company have set an average revenue estimate of $178.83 million for the current quarter. 10 have an estimated revenue figure of $181.28 million for the next quarter concluding in Jun 2024.
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 11.16% over the past 5 years.
EGHT Dividends
8X8 Inc. is expected to release its next earnings report between May 09 and May 13 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
8X8 Inc. (NASDAQ:EGHT)’s Major holders
Insiders own 2.29% of the company shares, while shares held by institutions stand at 95.44% with a share float percentage of 97.68%. Investors are also buoyed by the number of investors in a company, with 8X8 Inc. having a total of 224 institutions that hold shares in the company. The top two institutional holders are Blackrock Inc. with over 21.2 million shares worth more than $89.68 million. As of Jun 29, 2023, Blackrock Inc. held 18.98% of shares outstanding.
The other major institutional holder is Vanguard Group Inc, with the holding of over 14.66 million shares as of Jun 29, 2023. The firm’s total holdings are worth over $62.0 million and represent 13.12% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Vanguard Explorer Fund, Inc. and Vanguard Total Stock Market Index Fund. As of Jul 30, 2023, the former fund manager holds about 5.47% shares in the company for having 6.11 million shares of worth $28.97 million while later fund manager owns 3.29 million shares of worth $13.91 million as of Jun 29, 2023, which makes it owner of about 2.95% of company’s outstanding stock.
