8×8 Inc (EGHT) : During the past 4 weeks, traders have been relatively bearish on 8×8 Inc (EGHT), hence the stock is down -10.53% when compared to the S&P 500 during the same period. However, in the past 1 week, the selling of the stock is down by -0.26% relative to the S&P 500. The 4-week change in the price of the stock is -10.19% and the stock has fallen -0.3% in the past 1 week.
8×8 Inc. is up 7.06% in the last 3-month period. Year-to-Date the stock performance stands at 17.82%. The stock has recorded a 20-day Moving Average of 2.37% and the 50-Day Moving Average is 4.72%.
8×8 Inc (NASDAQ:EGHT): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $13.36 and $13.16 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $13.50. The buying momentum continued till the end and the stock did not give up its gains. It closed at $13.49, notching a gain of 0.60% for the day. The total traded volume was 962,060 . The stock had closed at $13.41 on the previous day.
Also, Needham initiates coverage on 8×8 Inc (NASDAQ:EGHT). The rating major has initiated the coverage with buy rating on the shares. The rating by the firm was issued on June 3, 2016.
8×8, Inc. (8×8) offers Software as a Service (SaaS) communication solution. The Company is engaged in business cloud communications and development and use of Internet protocol voice, video and data communication technologies in a true SaaS model. The 8×8 unified cloud communications solution addresses the shortcomings of legacy and point solution cloud services through its pure cloud Software as a Service offering. The Companys Infrastructure Manager abstracts complex global interconnectivity between Voice over Internet Protocol (VoIP) and traditional public switched telephone network (PSTN) providing customers with a phone system that can reach any phone in the world whether wireless or wireline. Its Integration Manager integrates with third-party applications, including Salesforce.com, Microsoft Dynamics, NetSuite, Zendesk and many others, to provide integrated applications functionality within its communications and collaboration services.