While 8X8 Inc. has underperformed by -9.59%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, EGHT fell by -18.85%, with highs and lows ranging from $3.92 to $1.51, whereas the simple moving average fell by -23.30% in the last 200 days.
On June 14, 2024, Morgan Stanley Downgraded 8X8 Inc. (NASDAQ: EGHT) to Underweight. A report published by Craig Hallum on November 02, 2023, Upgraded its rating to ‘Buy’ for EGHT. Craig Hallum also Downgraded EGHT shares as ‘Hold’, setting a target price of $4 on the company’s shares in a report dated August 09, 2023. Rosenblatt Initiated an Buy rating on March 24, 2023, and assigned a price target of $6. Wedbush initiated its ‘Neutral’ rating for EGHT, as published in its report on December 15, 2022. Craig Hallum also rated the stock as ‘Buy’.
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Analysis of 8X8 Inc. (EGHT)
Further, the quarter-over-quarter decrease in sales is -2.80%, showing a negative trend in the upcoming months.
In order to gain a clear picture of 8X8 Inc.’s future performance, a variety of well-rounded analysis and research techniques can be applied, with equity being the most critical. The goal here is to ensure that your current return on equity of -59.73% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.29, 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.
An average volume of 1.05M can be a very valuable indicator of volatility for EGHT stock. On a monthly basis, the volatility of the stock is set at 5.46%, whereas on a weekly basis, it is put at 7.00%, with a loss of -2.94% over the past seven days. Furthermore, long-term investors anticipate a median target price of $3.57, showing growth from the present price of $1.98, 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?
In addition to the fundamentals, you should also consider how many employees own shares in 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 3.27%. 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 88.76% 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 88.76% at present.
