8X8 Inc (NASDAQ:EGHT) price on Thursday, May 01, rose 0.56% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $1.78.
A look at the stock’s price movement, the close in the last trading session was $1.77, moving within a range at $1.76 and $1.84. The beta value (5-Year monthly) was 1.819. Turning to its 52-week performance, $3.52 and $1.51 were the 52-week high and 52-week low respectively. Overall, EGHT moved -12.75% over the past month.
8X8 Inc’s market cap currently stands at around $234.42 million, with investors looking forward to this quarter’s earnings report slated for on 2025-Feb-03.
Analysts have a consensus estimate of 177.95M for the company’s revenue for the quarter, with a low and high estimate of 177.5M and 178.3M respectively. The average forecast suggests down to a -0.81% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 716.01M, representing a -1.74% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that EGHT is a 50% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 50% Sell category.
6 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 5 recommend EGHT as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 1 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
EGHT’s current price about 3.93% and -13.53% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 45.93, while 7-day volatility ratio is 5.86% and 7.94% in the 30-day chart. Further, 8X8 Inc (EGHT) has a beta value of 1.80, and an average true range (ATR) of 0.13. Analysts have given the company’s stock an average 52-week price target of $2.75, forecast between a low of $2.5 and high of $3. Looking at the price targets, the low is -40.45% off current price level while to achieve the yearly target high, price needs to move -68.54%. Nonetheless, investors will most likely welcome a -54.49% jump to $2.75 which is the analysts’ median price.
If we refocus on 8X8 Inc (NASDAQ:EGHT), historical trading data shows that trading volumes averaged 1.47 over the past 10 days and 1.19 million over the past 3 months. The company’s latest data on shares outstanding shows there are 131.47 million shares.
The 2.92% of 8X8 Inc’s shares are in the hands of company insiders while institutional holders own 82.90% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 6.51 million on 2025-04-15, giving us a short ratio of 5.78. The data shows that as of 2025-04-15 short interest in 8X8 Inc (EGHT) stood at 637.0000000000001 of shares outstanding, with shares short falling to 6.78 million registered in 2025-03-14. Current price change has pushed the stock -33.33% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the EGHT stock continues to rise going into the next quarter.
