Currently, there are 125.19M common shares owned by the public and among those 124.14M shares have been available to trade.
The company’s stock has a 5-day price change of 30.95% and 6.59% over the past three months. EGHT shares are trading -27.25% year to date (YTD), with the 12-month market performance down to -16.16% lower. It has a 12-month low price of $1.51 and touched a high of $3.92 over the same period. EGHT has an average intraday trading volume of 953.22K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 31.74%, 39.20%, and 13.80% respectively.
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Institutional ownership of 8X8 Inc (NASDAQ: EGHT) shares accounts for 88.05% of the company’s 125.19M shares outstanding.
It has a market capitalization of $352.91M and a beta (3y monthly) value of 1.53. The earnings-per-share (ttm) stands at -$0.56. Price movements for the stock have been influenced by the stock’s volatility, which stands at 8.83% over the week and 5.98% over the month.
Earnings per share for the fiscal year are expected to decrease by -28.19%, and 26.91% over the next financial year. EPS should shrink at an annualized rate of 5.00% over the next five years, compared to 9.88% over the past 5-year period.
Looking at the support for the EGHT, a number of firms have released research notes about the stock. Morgan Stanley stated their Underweight rating for the stock in a research note on June 14, 2024, with the firm’s price target at $3-$2. Craig Hallum coverage for the 8X8 Inc (EGHT) stock in a research note released on November 02, 2023 offered a Buy rating with a price target of $4.50. Craig Hallum was of a view on August 09, 2023 that the stock is Hold, while Rosenblatt gave the stock Buy rating on March 24, 2023, issuing a price target of $6. Wedbush on their part issued Neutral rating on December 15, 2022.
