8×8 Inc (EGHT) has risen sharply, recording gains of 9.24% in the past 4 weeks. However, the stock has corrected -0.73% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 2.32% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
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 $15.04 and $14.39 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $15.22. The buying momentum continued till the end and the stock did not give up its gains. It closed at $15.02, notching a gain of 2.95% for the day. The total traded volume was 1,817,341 . The stock had closed at $14.59 on the previous day.
The stock has recorded a 20-day Moving Average of 2.67% and the 50-Day Moving Average is 10.12%. 8×8 Inc. is up 31.06% in the last 3-month period. Year-to-Date the stock performance stands at 31.18%.
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.