Investors aiming for above-average returns often turn to the practice of stock picking. Skillful choices in individual stocks can be a catalyst for substantial wealth growth.
The closing price of 8X8 Inc. (NASDAQ: EGHT) was $2.23 for the day, down -0.89% from the previous closing price of $2.25. In other words, the price has decreased by -$0.89 from its previous closing price. On the day, 0.86 million shares were traded. EGHT stock price reached its highest trading level at $2.4351 during the session, while it also had its lowest trading level at $2.22.
Ratios:
Our analysis of EGHT’s different ratios will help us gain a deeper understanding of the company. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 1.62 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 3.56. For the most recent quarter (mrq), Quick Ratio is recorded 1.15 and its Current Ratio is at 1.15. In the meantime, Its Debt-to-Equity ratio is 4.95 whereas as Long-Term Debt/Eq ratio is at 4.27.
On August 09, 2023, Craig Hallum Downgraded its rating to Hold which previously was Buy and also lowered its target price recommendation from $7 to $4.
On March 24, 2023, Rosenblatt started tracking the stock assigning a Buy rating and target price of $6.Rosenblatt initiated its Buy rating on March 24, 2023, with a $6 target price.
Insider Transactions:
Also, insider trades can serve as a great indicator of what management thinks about the future direction of a stock’s price. A recent insider transaction in this stock occurred on Apr 16 ’24 when Seandel Suzy M sold 7,256 shares for $2.27 per share. The transaction valued at 16,436 led to the insider holds 275,172 shares of the business.
Wilson Samuel C. sold 2,000 shares of EGHT for $4,543 on Apr 15 ’24. The Chief Executive Officer now owns 1,020,288 shares after completing the transaction at $2.27 per share. On Apr 15 ’24, another insider, Kraus Kevin, who serves as the Chief Financial Officer of the company, sold 1,000 shares for $2.33 each. As a result, the insider received 2,330 and left with 318,512 shares of the company.
Valuation Measures:
Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, EGHT now has a Market Capitalization of 275228832 and an Enterprise Value of 510823072. For the stock, the TTM Price-to-Sale (P/S) ratio is 0.38 while its Price-to-Book (P/B) ratio in mrq is 2.51. Its current Enterprise Value per Revenue stands at 0.696 whereas that against EBITDA is 21.292.
Stock Price History:
Over the past 52 weeks, EGHT has reached a high of $4.88, while it has fallen to a 52-week low of $2.12. The 50-Day Moving Average of the stock is -13.13%, while the 200-Day Moving Average is calculated to be -26.13%.
Shares Statistics:
EGHT traded an average of 1.39M shares per day over the past three months and 1006250 shares per day over the past ten days. A total of 123.42M shares are outstanding, with a floating share count of 120.13M. Insiders hold about 2.67% of the company’s shares, while institutions hold 91.93% stake in the company. Shares short for EGHT as of 1713139200 were 14862466 with a Short Ratio of 10.71, compared to 1710460800 on 16117370. Therefore, it implies a Short% of Shares Outstanding of 14862466 and a Short% of Float of 25.759999999999998.
