In the last trading session, 4.12 million shares of the 8X8 Inc (NASDAQ:EGHT) were traded, and its beta was 1.82. Most recently the company’s share price was $1.71, and it changed around $0.07 or 4.27% from the last close, which brings the market valuation of the company to $225.19M. EGHT currently trades at a discount to its 52-week high of $3.52, offering almost -105.85% off that amount. The share price’s 52-week low was $1.51, which indicates that the current value has risen by an impressive 11.7% since then. We note from 8X8 Inc’s average daily trading volume that its 10-day average is 1.33 million shares, with the 3-month average coming to 1.06 million.
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 is expected to report earnings per share of 0.08 for the current quarter.
8X8 Inc (NASDAQ:EGHT) trade information
Instantly EGHT has showed a green trend with a performance of 4.27% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 1.8800 on recent trading dayincreased the stock’s daily price by 9.04%. The company’s shares are currently down -35.96% year-to-date, but still down -5.00% over the last five days. On the other hand, 8X8 Inc (NASDAQ:EGHT) is -20.09% down in the 30-day period. We can see from the shorts that 6.17 million shares have been sold at a short interest cover period of 7.14 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 43.0% 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.
8X8 Inc (EGHT) estimates and forecasts
The year-over-year growth rate is expected to be -1.73%, down from the previous year.
Consensus estimates provided by 7 financial analysts predict the company will bring in an average of 178.07M in revenue for the current quarter. 6 analysts expect 8X8 Inc to make 178.92M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 179.41M and 178.15M respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -0.75%. Forecasts for the next quarter put sales growth at 0.44%.
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 -23.40% 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 on 2025-Feb-03.
8X8 Inc (NASDAQ:EGHT)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 2.28% of 8X8 Inc shares, and 83.39% of them are in the hands of institutional investors. The stock currently has a share float of 85.33%. 8X8 Inc stock is held by 197.0 institutions, with SYLEBRA CAPITAL LLC being the largest institutional investor. By 2024-06-30, it held 11.4203% of the shares, which is about 14.39 million shares worth $31.94 million.
ARROWMARK COLORADO HOLDINGS LLC, with 10.45% or 13.17 million shares worth $29.23 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
VANGUARD EXPLORER FUND and VANGUARD INDEX FUNDS-Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Jan 31, 2025 . The former held 6.27 shares worth $10.72 million, making up 5.61% of all outstanding shares. On the other hand, VANGUARD INDEX FUNDS-Vanguard Total Stock Market Index Fund held roughly 3.75 shares worth around $6.42 million, which represents about 3.36% of the total shares outstanding.
