8X8 Inc. (NASDAQ:EGHT) shares, rose in value, with the stock price down by -2.11% to the previous day’s close as strong demand from buyers drove the stock to $2.32.
Actively observing the price movement in the last trading, the stock closed the session at $2.37. Referring to stock’s 52-week performance, its high was $4.88, and the low was $2.12. On the whole, EGHT has fluctuated by -12.12% over the past month.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 728.06M, with a low estimate of 178M and a high estimate of 180.37M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 178.83M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that EGHT’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium-term indicators have put the stock in the category of 100% Sell while long-term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of EGHT currently trading nearly -4.47% and -11.20% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 42.78, while the 7-day volatility ratio is showing 5.02% which for the 30-day chart, stands at 5.44%. Furthermore, 8X8 Inc. (EGHT)’s beta value is 1.44, and its average true range (ATR) is 0.14.
A comparison of 8X8 Inc. (EGHT) with its peers suggests the former has fared considerably weaker in the market. EGHT showed an intraday change of -2.11% in last session, and over the past year, it shrunk by -24.92%%.
Data on historical trading for 8X8 Inc. (NASDAQ:EGHT) indicates that the trading volumes over the past 3 months, they’ve averaged 1.47 million. According to company’s latest data on outstanding shares, there are 123.42 million shares outstanding.
Nearly 2.67% of 8X8 Inc.’s shares belong to company insiders and institutional investors own 94.08% of the company’s shares. The stock has fallen by -38.62% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the EGHT stock heading into the next quarter.
