In the last trading session, 1.56 million shares of the 8X8 Inc (NASDAQ:EGHT) were traded, and its beta was 1.77. Most recently the company’s share price was $2.86, and it changed around $0.11 or 4.00% from the last close, which brings the market valuation of the company to $376.65M. EGHT currently trades at a discount to its 52-week high of $3.41, offering almost -19.23% off that amount. The share price’s 52-week low was $1.51, which indicates that the current value has risen by an impressive 47.2% since then. We note from 8X8 Inc’s average daily trading volume that its 10-day average is 1.1 million shares, with the 3-month average coming to 860.80K.
8X8 Inc stock received a consensus recommendation rating of Buy, based on a mean score of 2.80. If we narrow it down even further, the data shows that 3 out of 10 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 3 recommended EGHT as a Hold, whereas 3 deemed it a Buy, and 0 rated it as Underweight.
8X8 Inc (NASDAQ:EGHT) trade information
Instantly EGHT has showed a green trend with a performance of 4.00% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 3.01 on recent trading dayincreased the stock’s daily price by 4.98%. The company’s shares are currently up 7.12% year-to-date, but still up 5.15% over the last five days. On the other hand, 8X8 Inc (NASDAQ:EGHT) is 7.92% up in the 30-day period. We can see from the shorts that 6.96 million shares have been sold at a short interest cover period of 9.67 day(s).
The consensus price target as assigned by Wall Street analysts is $3, which translates to bulls needing to increase their stock price by 4.67% from its current value. Analyst projections state that EGHT is forecast to be at a low of $2.5 and a high of $3.5.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 9.88%. 8X8 Inc earnings are expected to increase by -23.62% in 2025, but the outlook is negative -5.49% per year for the next five years.
EGHT Dividends
8X8 Inc’s next quarterly earnings report is expected to be released in March.
8X8 Inc (NASDAQ:EGHT)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 2.32% of 8X8 Inc shares, and 83.49% of them are in the hands of institutional investors. The stock currently has a share float of 85.47%. 8X8 Inc stock is held by 187.0 institutions, with SYLEBRA CAPITAL LLC being the largest institutional investor. By 2024-06-30, it held 11.8817% of the shares, which is about 14.39 million shares worth $31.94 million.
ARROWMARK COLORADO HOLDINGS LLC, with 10.8722% or 13.17 million shares worth $29.23 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
