A History of Outperforming Analyst Forecasts and Beating the Odds: 8X8 Inc. (EGHT)

With 1.19 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.79 shares. During the session, the Software – Application company that operates in wider Technology sector, reached to the highest price of $2.9050 whereas the lowest price it dropped to was $2.8000. The 52-week range on EGHT shows that it touched its highest point at $6.45 and its lowest point at $2.15 during that stretch. It currently has a 1-year price target of $4.28. Beta for the stock currently stands at 1.49.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of EGHT was down-trending over the past week, with a drop of -4.84%, but this was down by -20.17% over a month. Three-month performance dropped to -3.06% while six-month performance fell -19.15%. The stock lost -54.18% in the past year, while it has lost -24.60% so far this year. A look at the trailing 12-month EPS for EGHT yields -0.45 with Next year EPS estimates of 0.45. For the next quarter, that number is 0.07. This implies an EPS growth rate of 39.65% for this year and -2.18% for next year.

Float and Shares Shorts:

At present, 123.42 million EGHT shares are outstanding with a float of 118.43 million shares on hand for trading. On Jan 31, 2024, short shares totaled 17.54 million, which was 14.21% higher than short shares on Dec 29, 2023. In addition to EGHT as the firm’s 8×8 Inc, SGHT serves as its Sight Sciences, Inc..

Institutional Ownership:

Through their ownership of 94.95% of EGHT’s outstanding shares, institutional investors have majority control over the company.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for EGHT since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With EGHT analysts setting a high price target of $7.00 and a low target of $2.00, the average target price over the next 12 months is $4.28. Based on these targets, EGHT could surge 145.61% to reach the target high and fall by -29.82% to reach the target low. Reaching the average price target will result in a growth of 50.18% from current levels.

Summary of Insider Activity:

Insiders traded EGHT stock several times over the past three months with 0 Buys and 3 Sells. In these transactions, 0 shares were bought while 2,836 shares were sold. The number of buy transactions has increased to 11 while that of sell transactions has risen to 60 over the past year. The total number of shares bought during that period was 1,292,766 while 332,110 shares were sold.