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8x8 (FRA:EGT) Momentum Rank : 7 (As of Dec. 15, 2024)


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What is 8x8 Momentum Rank?

8x8 has the Momentum Rank of 7.

For Momentum Rank, we considered the residual momentum concept that was widely studied by Blitz and his colleagues as well as by Nobel Prize laureates Fama and French. However, we did not find any significant differences in the performances of stocks with different ranks of residual momentum. Therefore, we use traditional momentum instead.

Momentum Rank is determined using the standardized momentum ratio and other momentum indicators. The standardized momentum ratio is the average of the performances from 12 months ago to 1 month ago and 6 months ago to 1 month ago, divided by the beta of the stock over the past 12 months. To calculate the momentum ratio today, we would use the average of the two performance numbers.

For momentum, we found that stock price performance does not have a monotonic correlation with the momentum ratio. The stocks with the highest momentum ratios perform worse than those at about the 70th percentile. Therefore, for the momentum rank, we ranked the stocks at about the 70th percentile of the momentum ratio as the highest at 10.

Please click GF Score to see more details on the GF Score's 5 Key Aspects of Analysis.

Competitive Comparison of 8x8's Momentum Rank

For the Software - Application subindustry, 8x8's Momentum Rank, along with its competitors' market caps and Momentum Rank data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

8x8's Momentum Rank Distribution in the Software Industry

For the Software industry and Technology sector, 8x8's Momentum Rank distribution charts can be found below:

* The bar in red indicates where 8x8's Momentum Rank falls into.


8x8 Momentum Rank Related Terms

Thank you for viewing the detailed overview of 8x8's Momentum Rank provided by GuruFocus.com. Please click on the following links to see related term pages.

8x8 Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Technology » Software » 8x8 Inc (FRA:EGT) » Definitions » Momentum Rank
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Traded in Other Exchanges
EGHT:USA 0IFS:UK EGT:Germany
Address
675 Creekside Way, Campbell, CA, USA, 95008
Website
https://www.8x8.com
8x8 Inc provides contact-center-as-a-service and unified-communications-as-a-service software applications to approximately 2.5 million users. The company's unified platform enables omnichannel communication to assist employees in communicating across voice, video, text, chat, and contact centers. The Company also generates revenue from sales of hardware and professional services, which are complementary to the delivery of its integrated technology platform.. Geographically, it derives a majority of revenue from the United States.