While 8X8 Inc has overperformed by 4.85%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, EGHT fell by -19.10%, with highs and lows ranging from $3.52 to $1.51, whereas the simple moving average fell by -5.37% in the last 200 days.
On December 13, 2024, Mizuho Downgraded 8X8 Inc (NASDAQ: EGHT) to Underperform. A report published by Morgan Stanley on June 14, 2024, Downgraded its rating to ‘Underweight’ for EGHT. Craig Hallum also Upgraded EGHT shares as ‘Buy’, setting a target price of $4.50 on the company’s shares in a report dated November 02, 2023. Craig Hallum August 09, 2023d the rating to Hold on August 09, 2023, and set its price target from $7 to $4. Rosenblatt initiated its ‘Buy’ rating for EGHT, as published in its report on March 24, 2023. Wedbush’s report from December 15, 2022 suggests a price prediction of $7 for EGHT shares, giving the stock a ‘Neutral’ rating. BofA Securities also rated the stock as ‘Buy’.
Analysis of 8X8 Inc (EGHT)
Further, the quarter-over-quarter decrease in sales is -1.32%, showing a negative trend in the upcoming months.
One of the most important indicators of 8X8 Inc’s future performance is equity, which can be evaluated using several well-rounded types of analysis and research techniques. The goal here is to ensure that your current return on equity of -24.28% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.02, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can also provide valuable insight into volatility, and EGHT is recording 1.46M average volume. On a monthly basis, the volatility of the stock is set at 5.26%, whereas on a weekly basis, it is put at 5.35%, with a gain of 10.20% over the past seven days. Furthermore, long-term investors anticipate a median target price of $2.33, showing growth from the present price of $2.16, which can serve as yet another indication of whether EGHT is worth investing in or should be passed over.
How Do You Analyze 8X8 Inc Shares?
Along with the fundamentals, it is also important to consider how many employees own shares of the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 4.20%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 80.80% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
EGHT shares are owned by institutional investors to the tune of 80.80% at present.
