Do Investors Have Much Faith In 8X8 Inc. (NASDAQ: EGHT)

8X8 Inc. (NASDAQ:EGHT) does about 1.38M shares in volume on a normal day but saw 1693209 shares change hands in Friday’s trading. The company now has a market cap of 319.66M USD. Its current market price is $2.59, marking a decrease of -7.83% compared to the previous close of $2.81. The 52 week high reached by this stock is $4.88 whilst the lowest price level in 52 weeks is $2.12.

8X8 Inc. (EGHT) has a 20-day trading average at $2.31 and the current price is -46.87% off the 52-week high compared with 22.17% distance from its 52-week low. The 50-day simple moving average of the closing price is $2.54 and its 200-day simple moving average is $2.96. If we look at the stock’s price movements over the week, volatility stands at 7.99%, which decreases to 6.44% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 56.54 to suggest the stock is neutral.

The consensus objective for the share price is $4.00, suggesting that the stock has a potential upside of 35.25% over the period.

The company shares received a number of brokerage firm price updates over the past month, with the latest being on November 02, 2023 when Craig Hallum upgraded the stock to “Buy” and issued a price target of $4.50. Craig Hallum downgraded the stock to “Hold” from Buy on August 09, 2023 at a price target of $7-$4. Rosenblatt initiated its price target at $6.

8X8 Inc. (EGHT) stock is up 16.14% over the week and 4.86% over the past month. Its price is -31.48% year-to-date and -19.81% over the past year.

The company’s next earnings report forecasts estimating quarterly EPS at 0.09 and 0.41 for whole year. Expected sales for next quarter are $181.22M, which analysts say will come at $728.09M for the current fiscal year and next year at $753.52M. In addition, estimates put the company’s current quarterly revenue at an average of $179.11M.

To reach the target analysts have set, the stock logically needs to grow 35.25 percent from here.

The company has a return on investment of -11.89% and return on equity of -66.97%. The forward price to earnings ratio is 5.30. The beta has a value of 1.56. Price to book ratio is 3.18 and price to sales ratio is 0.44.