At the time of writing, 8X8 Inc. [EGHT] stock is trading at $2.97, up 4.21%. Until recently, the best way to gauge how the stock has performed was to look at its short-term value. The EGHT shares have gain 5.32% over the last week, with a monthly amount glided 7.22%, and seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
8X8 Inc. [NASDAQ: EGHT] stock has seen the most recent analyst activity on November 02, 2023, when Craig Hallum upgraded its rating to a Buy but kept the price target unchanged to $4.50 for it. Previously, Craig Hallum downgraded its rating to Hold on August 09, 2023, and dropped its price target to $4. On March 24, 2023, Rosenblatt initiated with a Buy rating and assigned a price target of $6 on the stock. Wedbush started tracking the stock assigning a Neutral rating and suggested a price target of $7 on December 15, 2022. BofA Securities upgraded its rating to a Buy. Craig Hallum upgraded its rating to Buy for this stock on August 05, 2022. In a note dated August 05, 2022, Oppenheimer downgraded an Perform rating on this stock.
For the past year, the stock price of 8X8 Inc. fluctuated between $2.15 and $5.68. Currently, Wall Street analysts expect the stock to reach $29.5 within the next 12 months. 8X8 Inc. [NASDAQ: EGHT] shares were valued at $2.97 at the most recent close of the market. An investor can expect a potential return of 893.27% based on the average EGHT price forecast.
Analyzing the EGHT fundamentals
According to 8X8 Inc. [NASDAQ:EGHT], the company’s sales were 733.82M for trailing twelve months, which represents an -1.84% plunge. Gross Profit Margin for this corporation currently stands at 0.7% with Operating Profit Margin at -0.01%, Pretax Profit Margin comes in at -0.07%, and Net Profit Margin reading is -0.07%. To continue investigating profitability, this company’s Return on Assets is posted at -0.06, Equity is -0.5 and Total Capital is -0.02. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 4.95.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 2.89 points at the first support level, and at 2.80 for the second support level. However, for the 1st resistance point, the stock is sitting at 3.02, and for the 2nd resistance point, it is at 3.07.
8X8 Inc. [EGHT] reported earnings per share of $0.12 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.1/share, meaning a difference of $0.02 and a surprise factor of 20.00%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $0.14 per share as compared to estimates of $0.08 per share, a difference of $0.06 representing a surprise of 75.00%.
Ratios To Look Out For
It is important to note that 8X8 Inc. [NASDAQ:EGHT] has a current ratio of 1.15. As well, the Quick Ratio is 1.15, while the Cash Ratio is 0.73. Considering the valuation of this stock, the price to sales ratio is 0.50, the price to book ratio is 3.34.
Transactions by insiders
Recent insider trading involved Middleton Hunter, Chief Product Officer, that happened on Feb 16 ’24 when 500.0 shares were sold. Chief Financial Officer, Kraus Kevin completed a deal on Feb 16 ’24 to sell 487.0 shares. Meanwhile, Chief Executive Officer Wilson Samuel C. sold 2000.0 shares on Feb 15 ’24.
