8×8 Inc. (EGHT): Technology sector is gaining shares

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8×8 Inc. (NYSE:EGHT) changes shares on Tuesday trading session, with a change of 0.26% or $0.04 shares. The trading starts at $15.81 and closed at $15.67 throughout the day. The trading session low price was $15.61 and day high was $16.20 on Tuesday, June 23. After the session, the Technology sector daily volume shifted to 1.25 million while its average volume is 2.27M. In other hand, the EGHT market cap reached to $1.65B. While, its current target price is $15.71 according to WSJ.

Checking out the performance report which defines the increase or decrease of prices for a specific period. For the last 5 trading sessions, its performance is up 2.95% and down -0.82% for month. Its quarterly performance was -10.54% below, while its half year performance is down -14.48%. EGHT yearly performance stood at negative -33.35% and fall -14.15% for year-to-date. Current recommendation for 8×8 Inc. is 2.20.

Earnings per share or EPS is an important financial measure, which defines the profitability of a company. EGHT EPS (TTM) for 12-month is -1.73. EPS for this year is -83.60%, while for the next year its value is 0.02. Its EPS Q/Q reached -66.10%. It has an EPS of -13.92% down for past five years.

Let’s take a look on the analyst recommendations on EGHT for the current month and previous month. For the current month, 8 of 17 analysts recommend stock as Buy while 1 as Sell, 1 as overweight, 1 as underweight and 6 as Hold. As compared with the previous month ratings, 17 analysts participate in stock recommendation. Out of 17, 1 rated it sell, 8 rated it as Buy and 5 as Hold Ratings. On the other hand, target price ranges from $12.00-$29.00. Average target price for EGHT was reached at $20.20.

The insider ownership moved to 0.50% and institutional holding shifted to 91.25%.

The company posted an EPS (TTM) of -1.73. According to the most recent quarter report on (Jun 2020), 14 analysts estimated an average EPS of -0.12, while -0.14 EPS posted a year ago period. Analyst Estimated EPS for EGHT published in the report was -0.16–0.12 during the same period. Comparing with last year, the average estimated EPS was -0.14 which is lower than -0.12 which was posted for recent quarter EPS.

A brief look on simple moving average (SMA) that determines the market price can impact a market. The SMA for EGHT fall -14.19% for period of 200 days. SMA for 50 days was -2.33% which is showing red signal, while SMA-20 was 5.32%. The moving average value for 8×8 Inc. (EGHT) is 17.25 and 15.65 for 200 and 50 days respectively.

Let’s take a look on the insider transactions, in which multiple shareholders are showing interest in EGHT stock. On Jun 22, Theophille Elizabeth Harriet, Director, sold 611 trading shares at the cost of $15.22, which valued at 9299.0. On Apr 24, Deklich Dejan, EVP, Chief Product Officer, sold 1,277 shares at the cost of $16.65, with total shares of 43,853. On Apr 24, Zinn Matthew, SVP-GC, Secretary and CPO, sold 946 shares at the cost of 16.65. After this transaction, Zinn Matthew total shares reached to 1,786 which valued at 15751.0.