8×8 Inc. (NYSE:EGHT) previous close was $21.27 while the outstanding shares total 104.62M. The firm has a beta of 0.82. EGHT’s shares traded higher over the last trading session, gaining 34.70% on 12/10/20. The shares fell to a low of $23.50 before closing at $28.65. Intraday shares traded counted 12.4 million, which was -884.27% lower than its 30-day average trading volume of 1.26M. The stock’s Relative Strength Index (RSI) is 86.80, with weekly volatility at 9.19% and ATR at 1.31. The EGHT stock’s 52-week price range has touched low of $10.70 and a $22.29 high.
Investors have identified the Software – Application company 8×8 Inc. as an interesting stock but before investments are made there, an in-depth look at its trading activities will have to be conducted. The share is trading with a market value of around $2.98 billion, the company now has both obstacles and catalysts that affect them and they came from their mode of operations. With the company affected by events currently, it is a perfect time to analyze the numbers behind the firm in order to come up with a rather realistic picture of what this stock is.
8×8 Inc. (EGHT) Fundamentals that are to be considered.
When analyzing a stock, the first fundamental thing to take into account is the balance sheet. How healthy the balance sheet of a company is will determine if the company will be able to carry out all its financial and non-financial obligations and also keep the faith of its investors. In terms of their assets, the company currently has 268.54 million total, with 116.41 million as their total liabilities.
EGHT were able to record -33.4 million as free cash flow during the Q2 2021 quarter of the year, this saw their quarterly net cash flow reduce by -19.0 million. In cash movements, the company had a total of -13.07 million as operating cash flow.
Potential earnings growth for 8×8 Inc. (EGHT)
In order to determine the future investment potential for this stock, we will have to analyze key trends that affect it. During the Q2 2021 quarter of the year, 8×8 Inc. recorded a total of 129.13 million in revenue. This figure implies that they witnessed a quarterly year/year change in their earnings with 15.19% coming in sequential stages and their sales for the Q2 2021 quarter increasing by 5.67%.
What matters though is how it ends. When the core data for the company is broken down, then the stock sounds interesting. The company spent 56.5 million trying to sell their products during the last quarter, with the result yielding a gross income of 72.64 million. This allows shareholders to hold on to 104.62M with the recently reported earning now reading -0.37 cents per share. This is a figure that compared to analyst’s prediction for their Q2 2021 (-0.28 cents a share).
Having a look at the company’s valuation, the company is expected to record -0.88 total earnings per share during the next fiscal year. It is very important though to remember that the importance of trend far outweighs that of outlook. This analysis has been great and getting further updates on EGHT sounds very interesting.
Is the stock of EGHT attractive?
In related news, Chief Executive Officer, Verma Vikram sold 25,710 shares of the company’s stock in a transaction that recorded on Oct 28. The sale was performed at an average price of 15.80, for a total value of 406,105. As the sale deal closes, the Chief Technology Officer, MARTIN BRYAN R now sold 1,495 shares of the company’s stock, valued at 23,614. Also, SVP-GC,Secretary and CPO, Zinn Matthew sold 4,185 shares of the company’s stock in a deal that was recorded on Oct 28. The shares were price at an average price of 15.80 per share, with a total market value of 66,105. Following this completion of acquisition, the Chief Products Officer, Deklich Dejan now holds 7,713 shares of the company’s stock, valued at 121,832. In the last 6 months, insiders have changed their ownership in shares of company stock by 1.00%.
10 out of 17 analysts covering the stock have rated it a Buy, while 6 have maintained a Hold recommendation on 8×8 Inc.. 0 analysts has assigned a Sell rating on the EGHT stock. The 12-month mean consensus price target for the company’s shares has been set at $20.95.