8X8 Inc. (NASDAQ:EGHT) has a beta value of 1.56 and has seen 1.08 million shares traded in the last trading session. The company, currently valued at $392.84M, closed the last trade at $3.07 per share which meant it gained $0.29 on the day or 10.43% during that session. The EGHT stock price is -58.96% off its 52-week high price of $4.88 and 39.74% above the 52-week low of $1.85. If we look at the company’s 10-day average daily trading volume, we find that it stood at 1.11 million shares traded. The 3-month trading volume is 1.13 million shares.
The consensus among analysts is that 8X8 Inc. (EGHT) is Buy stock at the moment, with a recommendation rating of 2.54. 1 analysts rate the stock as a Sell, while 0 rate it as Overweight. 0 out of 6 have rated it as a Hold, with 5 advising it as a Buy. 0 have rated the stock as Underweight.
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8X8 Inc. (NASDAQ:EGHT) trade information
Sporting 10.43% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on recent trading when the EGHT stock price touched $3.07 or saw a rise of 1.6%. Year-to-date, 8X8 Inc. shares have moved -18.78%, while the 5-day performance has seen it change 22.31%. Over the past 30 days, the shares of 8X8 Inc. (NASDAQ:EGHT) have changed 52.74%. Short interest in the company has seen 14.25 million shares shorted with days to cover at 10.77.
Wall Street analysts have a consensus price target for the stock at $30, which means that the shares’ value could jump 89.77% from current levels. The projected low price target is $2 while the price target rests at a high of $50. In that case, then, we find that the current price level is -1528.66% off the targeted high while a plunge would see the stock lose 34.85% from current levels.
8X8 Inc. (EGHT) estimates and forecasts
Figures show that 8X8 Inc. shares have underperformed across the wider relevant industry. The company’s shares have lost -11.78% over the past 6 months, with this year growth rate of -14.89%, compared to 22.40% for the industry.
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 9.88% over the past 5 years. Earnings growth for 2024 is a modest -13.26% while over the next 5 years, the company’s earnings are expected to increase by 11.60%.
EGHT Dividends
8X8 Inc. is expected to release its next earnings report in August 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
The top two institutional holders are SYLEBRA CAPITAL LLC with over 14.39 million shares worth more than $38.85 million. As of 2024-03-31, SYLEBRA CAPITAL LLC held 11.7411% of shares outstanding.
The other major institutional holder is ARROWMARK COLORADO HOLDINGS LLC, with the holding of over 13.32 million shares as of 2024-03-31. The firm’s total holdings are worth over $35.97 million and represent 10.8706% of shares outstanding.
