8×8 Inc (NASDAQ:EGHT) : Traders are bullish on 8×8 Inc (NASDAQ:EGHT) as it has outperformed the S&P 500 by a wide margin of 6.77% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 0.83%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.12% in the last 1 week, and is up 8.49% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The company shares have rallied 71.05% from its 1 Year high price. On Jul 8, 2016, the shares registered one year high at $14.96 and the one year low was seen on Aug 26, 2015. The 50-Day Moving Average price is $13.68 and the 200 Day Moving Average price is recorded at $11.72.
The stock has recorded a 20-day Moving Average of 6.4% and the 50-Day Moving Average is 15.49%.
8×8 Inc (NASDAQ:EGHT): stock turned positive on Friday. Though the stock opened at $14.66, the bulls momentum made the stock top out at $14.96 level for the day. The stock recorded a low of $14.63 and closed the trading day at $14.95, in the green by 2.96%. The total traded volume for the day was 650,002. The stock had closed at $14.52 in the previous days trading.
In an insider trading activity, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the officer (Chief Technology Officer) of 8×8 Inc /De/, Martin Bryan R had sold 43,142 shares worth of $537,118 in a transaction dated May 24, 2016. In this transaction, 43,142 shares were sold at $12.45 per share.
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.