On Wednesday, shares of 8×8, Inc. (NYSE:EGHT) marked $20.10 per share versus a previous $19.50 closing price. With having a 3.08% gain, an insight into the fundamental values of 8×8, Inc., investors would also find a great ally in the technical patterns of the stock movements showed in stock charts. EGHT showed a rise of 9.84% within its YTD performance, with highs and lows between $16.50 – $26.67 during the period of 52 weeks, compared to the simple moving average of -9.08% in the period of the last 200 days.
Morgan Stanley equity researchers changed the status of 8×8, Inc. (NYSE: EGHT) shares from “Overweight” to a “Equal-Weight” rating in the report published on January 13th, 2020. Other analysts, including B. Riley FBR, also published their reports on EGHT shares. B. Riley FBR repeated the rating from the previous report, marking EGHT under “Neutral” rating, in the report published on October 24th, 2019. Additionally, EGHT shares got another “Underperform” rating from BofA/Merrill. On July 31st, 2019, BofA/Merrill Reiterated an Neutral rating and increased its price target from $25 to $28. On the other hand, B. Riley FBR Downgrade the “Sell” rating for EGHT shares, as published in the report on July 31st, 2019. Rosenblatt seems to be going bullish on the price of EGHT shares, based on the price prediction for EGHT, indicating that the shares will jump to $27, giving the shares “Neutral” rating based on their report from July 24th, 2019. Another “Buy” rating came from Needham, providing a prediction for $27 price target according to the report published in July 18th, 2019.
The present dividend yield for EGHT owners is set at 0, marking the return investors will get regardless of the company’s performance in the upcoming period. In addition, the growth of sales from quarter to quarter is recording 27.80%, hinting the company’s progress in the upcoming progress.
In order to gain a clear insight on the performance of 8×8, Inc. (EGHT) as it may occur in the future, there are more than several well-rounded types of analysis and research techniques, while equity is most certainly one of the more important indicators into the company’s growth and performance. In this case, you want to make sure that the return on the present equity of -53.70% is enough for you to make a profit out of your investment. You may also count in the quick ratio of the company, currently set at 2.40 so you would make sure that the company is able to cover the debts it may have, which can be easily seen in annual reports of the company.
Set to affect the volatility of a given stock, the average volume can also be a valuable indicator, while EGHT is currently recording an average of 1.28M in volumes. The volatility of the stock on monthly basis is set at 2.84%, while the weekly volatility levels are marked at 2.92%with 5.51% of gain in the last seven days. Additionally, long-term investors are predicting the target price of $25.65, indicating growth from the present price of $20.10, which can represent yet another valuable research and analysis points that can help you decide whether to invest in EGHT or pass.What to Look for When Analyzing 8×8, Inc. Shares?
8×8, Inc. (EGHT) is based in the USA and it represents one of the well-known company operating with Technology sector. If you wish to compare EGHT shares with other companies under Electronic Equipment and Consumer Goods, a factor to note is the P/E value of for 8×8, Inc., while the value can represent an indicator in the future growth of the company in terms of investor’s expectations. The later value should have a steady growth rate, increasing and growing gradually, which serves the purpose of reliably showcasing the progress of the company. The value -1.31 is supported by the yearly ESP growth of 17.30%.
Besides from looking into the fundamentals, you should also note the number of people inside the company owning the shares, as the values should be in line with the expectations of investors. In that spirit, the present ownership of stocks inside the company is set at 0.70%, which can provide you with an insight of how involved executives are in owning shares of the company. In oppose to the executives’ share, the institutional ownership counts 94.50% of shares, carrying an equal significance as an indicator of value, as the presence of large investors may signal a strong company.Are Institutional Investors Increasing Stakes in EGHT Shares?
It appears that more than several institutional investors and hedge funds decided to increase stakes in EGHT in the recent period. That is how BlackRock Fund Advisors now has an increase position in EGHT by 2.92% in the first quarter, owning 13.65 million shares of EGHT stocks, with the value of $249.74 million after the purchase of an additional 387,605 shares during the last quarter. In the meanwhile, The Vanguard Group, Inc. also increased their stake in EGHT shares changed 1.39% in the first quarter, which means that the company now owns 9.94 million shares of company, all valued at $181.96 million after the acquisition of additional 136,250 shares during the last quarter.
Tiger Global Management LLC acquired a new position in 8×8, Inc. during the first quarter, with the value of $86.56 million, and Sylebra HK Co. Ltd. increased their stake in the company’s shares by 5.00% in the first quarter, now owning 211,882 shares valued at $81.44 million after the acquisition of the additional 4.45 million shares during the last quarter. In the end, Ivy Investment Management Co. increased their position by 0.75% during the first quarter, now owning 3.66 million EGHT shares, now holding the value of $66.93 million in EGHT with the purchase of the additional 489,662 shares during the period of the last quarter. At the present, 94.50% of EGHT shares are in the ownership of institutional investors.