8X8 Inc. (NASDAQ: EGHT) Surprised Bears With Its Forecast.

In the last trading session, 1.03 million shares of the 8X8 Inc. (NASDAQ:EGHT) were traded, and its beta was 1.46. Most recently the company’s share price was $2.32, and it changed around $0.12 or 5.45% from the last close, which brings the market valuation of the company to $286.33M. EGHT currently trades at a discount to its 52-week high of $4.88, offering almost -110.34% off that amount. The share price’s 52-week low was $2.12, which indicates that the current value has risen by an impressive 8.62% since then. We note from 8X8 Inc.’s average daily trading volume that its 3-month average coming to 1.48 million.

8X8 Inc. stock received a consensus recommendation rating of Hold, based on a mean score of 2.38. If we narrow it down even further, the data shows that 0 out of 11 analysts rate the stock as a Sell; another 3 rate it as Overweight. Among the rest, 5 recommended EGHT as a Hold, whereas 3 deemed it a Buy, and 0 rated it as Underweight. 8X8 Inc. is expected to report earnings per share of $0.06 for the current quarter.

8X8 Inc. (NASDAQ:EGHT) trade information

Instantly EGHT has showed a green trend with a performance of 5.45% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently down -38.62% year-to-date, but still up 1.31% over the last five days. On the other hand, 8X8 Inc. (NASDAQ:EGHT) is -12.45% down in the 30-day period.

The consensus price target as assigned by Wall Street analysts is $29.5, which translates to bulls needing to increase their stock price by 92.14% from its current value. Analyst projections state that EGHT is forecast to be at a low of $8 and a high of $50.

8X8 Inc. (EGHT) estimates and forecasts

8X8 Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 3.57 percent over the past six months and at a 39.39% annual growth rate that is well above the industry average of 20.60%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -45.50% in revenue this quarter, and will report a decrease of -23.10% in the next quarter. The year-over-year growth rate is expected to be -2.10%, down from the previous year.

Consensus estimates provided by 12 financial analysts predict the company will bring in an average of $178.83 million in revenue for the current quarter. 10 analysts expect 8X8 Inc. to make $181.28 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $184.53 million. Analysts predict that the company’s current quarter sales will drop, forecast at -3.10%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 11.16%.