In the last trading session, 2.24 million 8X8 Inc (NASDAQ:EGHT) shares changed hands as the company’s beta touched 1.66. With the company’s per share price at $2.52 changed hands at -$0.06 or -2.33% during last session, the market valuation stood at $329.26M. EGHT’s last price was a discount, traded about -49.21% off its 52-week high of $3.76. The share price had its 52-week low at $1.51, which suggests the last value was 40.08% up since then. When we look at 8X8 Inc’s average trading volume, we note the 10-day average is 0.56 million shares, with the 3-month average coming to 834.07K.
Analysts gave the 8X8 Inc (EGHT) stock a consensus recommendation rating of Buy, calculated at a mean rating of 2.80. If we narrow down to specifics, the data shows that 1 out of 6 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended EGHT as a Hold, 5 felt it is a Buy and 0 rated the stock as Underweight.
8X8 Inc (NASDAQ:EGHT) trade information
Instantly EGHT was in red as seen at the end of in last trading. With action -6.67%, the performance over the past five days has been red. The company’s shares are showing year-to-date downside of -5.62%, with the 5-day performance at -6.67% in the red. However, in the 30-day time frame, 8X8 Inc (NASDAQ:EGHT) is -19.75% down. Looking at the short shares, we see there were 7.68 million shares sold at short interest cover period of 11.53 days.
The consensus price target for the stock as assigned by Wall Street analysts is 3, meaning bulls need an upside of 16.0% from its current market value. According to analyst projections, EGHT’s forecast low is 2.5 with 3.5 as the target high. To hit the forecast high, the stock’s price needs a -38.89% plunge from its current level, while the stock would need to tank 0.79% for it to hit the projected low.
8X8 Inc (EGHT) estimates and forecasts
Data shows that the 8X8 Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 0.40% over the past 6 months, a -27.66% in annual growth rate that is considerably lower than the industry average of 25.50%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 9.88%. The 2025 estimates are for 8X8 Inc earnings to decrease by -28.51%, but the outlook for the next 5-year period is at 5.00% per year.
EGHT Dividends
8X8 Inc is expected to release its next quarterly earnings report in February.
8X8 Inc (NASDAQ:EGHT)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 2.32% of 8X8 Inc shares while 83.48% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 85.46%. There are 83.48% institutions holding the 8X8 Inc stock share, with SYLEBRA CAPITAL LLC the top institutional holder. As of 2024-06-30, the company held 11.8817% of the shares, roughly 14.39 million EGHT shares worth $31.94 million.
ARROWMARK COLORADO HOLDINGS LLC holds the second largest percentage of outstanding shares, with 10.8722% or 13.17 million shares worth $29.23 million as of 2024-06-30.
