8X8 Inc (NASDAQ:EGHT) has a beta value of 1.54 and has seen 1.82 million shares traded in the last trading session. The company, currently valued at $293.72M, closed the last trade at $2.32 per share which meant it gained $0.12 on the day or 5.45% during that session. The EGHT stock price is -68.97% off its 52-week high price of $3.92 and 34.91% above the 52-week low of $1.51. If we look at the company’s 10-day average daily trading volume, we find that it stood at 0.52 million shares traded. The 3-month trading volume is 936.12K shares.
The consensus among analysts is that 8X8 Inc (EGHT) is Buy stock at the moment, with a recommendation rating of 2.64. 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. The expected earnings per share for the stock is 0.08.
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8X8 Inc (NASDAQ:EGHT) trade information
Sporting 5.45% 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 $2.32 or saw a rise of 4.53%. Year-to-date, 8X8 Inc shares have moved -38.62%, while the 5-day performance has seen it change 13.73%. Over the past 30 days, the shares of 8X8 Inc (NASDAQ:EGHT) have changed 5.94%. Short interest in the company has seen 9.08 million shares shorted with days to cover at 10.66.
Wall Street analysts have a consensus price target for the stock at $20, which means that the shares’ value could jump 88.4% from current levels. The projected low price target is $2.0 while the price target rests at a high of $50.0. In that case, then, we find that the current price level is -2055.17% off the targeted high while a plunge would see the stock lose 13.79% 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 gained 0.43% over the past 6 months, with this year growth rate of -29.79%, compared to 19.50% for the industry. Revenue growth from the last financial year stood is estimated to be -1.20%.
11 analysts offering their estimates for the company have set an average revenue estimate of 178.36M for the current quarter. 11 have an estimated revenue figure of 181.11M for the next ending quarter.
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 -30.14% while over the next 5 years, the company’s earnings are expected to increase by 5.00%.
EGHT Dividends
8X8 Inc is expected to release its next earnings report in December 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 1.80% of the company shares, while shares held by institutions stand at 89.49% with a share float percentage of 91.13%. Investors are also buoyed by the number of investors in a company, with 8X8 Inc having a total of 196.0 institutions that hold shares in the company. The top two institutional holders are SYLEBRA CAPITAL LLC with over 14.39 million shares worth more than $31.94 million. As of 2024-06-30, SYLEBRA CAPITAL LLC held 11.8817% of shares outstanding.
The other major institutional holder is ARROWMARK COLORADO HOLDINGS LLC, with the holding of over 13.17 million shares as of 2024-06-30. The firm’s total holdings are worth over $29.23 million and represent 10.8722% of shares outstanding.
