8×8 Inc. (NYSE:EGHT) shares fell to a low of $25.48 before closing at $26.13. Intraday shares traded counted 1.14 million, which was 15.57% higher than its 30-day average trading volume of 1.35M. EGHT’s previous close was $26.24 while the outstanding shares total 107.92M. The firm has a beta of 1.12. The stock’s Relative Strength Index (RSI) is 52.73, with weekly volatility at 3.63% and ATR at 0.96. The EGHT stock’s 52-week price range has touched low of $14.71 and a $39.17 high. The stock traded lower over the last trading session, losing -0.42% on 06/21/21.
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 $2.88 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 276.53 million total, with 121.38 million as their total liabilities.
EGHT were able to record -49.31 million as free cash flow during the 07/29/2021 quarter of the year, this saw their quarterly net cash flow reduce by -35.24 million. In cash movements, the company had a total of -14.07 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 07/29/2021 quarter of the year, 8×8 Inc. recorded a total of 144.72 million in revenue. This figure implies that they witnessed a quarterly year/year change in their earnings with 16.06% coming in sequential stages and their sales for the 07/29/2021 quarter increasing by 5.55%.
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 61.11 million trying to sell their products during the last quarter, with the result yielding a gross income of 83.61 million. This allows shareholders to hold on to 107.92M with the recently reported earning now reading -0.42 cents per share. This is a figure that compared to analyst’s prediction for their 07/29/2021 (-0.33 cents a share).
Having a look at the company’s valuation, the company is expected to record -0.70 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 Financial Officer, Wilson Samuel C. sold 862 shares of the company’s stock in a transaction that recorded on Jun 18. The sale was performed at an average price of 26.18, for a total value of 22,567. As the sale deal closes, the SVP-GC,Secretary and CPO, Zinn Matthew now sold 421 shares of the company’s stock, valued at 11,022. Also, Chief Technology Officer, MARTIN BRYAN R sold 431 shares of the company’s stock in a deal that was recorded on Jun 18. The shares were price at an average price of 26.18 per share, with a total market value of 11,284. Following this completion of acquisition, the Chief Products Officer, Deklich Dejan now holds 1,502 shares of the company’s stock, valued at 39,322. In the last 6 months, insiders have changed their ownership in shares of company stock by 1.10%.
8 out of 16 analysts covering the stock have rated it a Buy, while 6 have maintained a Hold recommendation on 8×8 Inc.. 1 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 $35.75.