In last trading session, 8X8 Inc (NASDAQ:EGHT) saw 1.46 million shares changing hands with its beta currently measuring 1.58. Company’s recent per share price level of $2.95 trading at $0.09 or 3.15% at ring of the bell on the day assigns it a market valuation of $378.57M. That closing price of EGHT’s stock is at a discount of -32.88% from its 52-week high price of $3.92 and is indicating a premium of 48.81% from its 52-week low price of $1.51. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 1.22 million shares which gives us an average trading volume of 1.02 million if we extend that period to 3-months.
For 8X8 Inc (EGHT), analysts’ consensus is at an average recommendation of Buy while assigning it a mean rating of 2.64. Splitting up the data highlights that, out of 6 analysts covering the stock, 1 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 0 suggested the stock as a Hold whereas 5 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of 0.09 in the current quarter.
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8X8 Inc (NASDAQ:EGHT) trade information
Upright in the green during last session for gaining 3.15%, in the last five days EGHT remained trading in the green while hitting it’s week-highest on Tuesday, 11/05/24 when the stock touched $2.95 price level, adding 1.99% to its value on the day. 8X8 Inc’s shares saw a change of -21.96% in year-to-date performance and have moved 32.29% in past 5-day. 8X8 Inc (NASDAQ:EGHT) showed a performance of 59.46% in past 30-days. Number of shares sold short was 9.08 million shares which calculate 10.66 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of 10 to the stock, which implies a rise of 70.5% to its current value. Analysts have been projecting 2 as a low price target for the stock while placing it at a high target of 50. It follows that stock’s current price would jump 32.2% in reaching the projected high whereas dropping to the targeted low would mean a gain of 32.2% for stock’s current value.
8X8 Inc (EGHT) estimates and forecasts
Statistics highlight that 8X8 Inc is scoring comparatively lower than the scores of other players of the relevant industry. The company added 4.98% of value to its shares in past 6 months, showing an annual growth rate of -29.79% while that of industry is 20.70. Apart from that, the company came lowering its revenue forecast for fiscal year 2024. This year revenue growth is estimated to fall -1.20% from the last financial year’s standing.
10 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of 179.23M for the same. And 10 analysts are in estimates of company making revenue of 181.71M in the next quarter.
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 9.88% during past 5 years. In 2024, company’s earnings growth rate is likely to be around -28.19% while estimates for its earnings growth in next 5 years are of 5.00%.
8X8 Inc (NASDAQ:EGHT)’s Major holders
Insiders are in possession of 1.80% of company’s total shares while institution are holding 89.65 percent of that, with stock having share float percentage of 91.30%. Investors also watch the number of corporate investors in a company very closely, which is 89.65% institutions for 8X8 Inc that are currently holding shares of the company. SYLEBRA CAPITAL LLC is the top institutional holder at EGHT for having 14.39 million shares of worth $31.94 million. And as of 2024-06-30, it was holding 11.8817 of the company’s outstanding shares.
The second largest institutional holder is ARROWMARK COLORADO HOLDINGS LLC, which was holding about 13.17 million shares on 2024-06-30. The number of shares represents firm’s hold over 10.8722 of outstanding shares, having a total worth of $29.23 million.
