Should Value Investors Buy 8x8 (EGHT) Stock?

While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.

Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.

Luckily, Zacks has developed its own Style Scores system in an effort to find stocks with specific traits. Value investors will be interested in the system's "Value" category. Stocks with both "A" grades in the Value category and high Zacks Ranks are among the strongest value stocks on the market right now.

One stock to keep an eye on is 8x8 (EGHT). EGHT is currently sporting a Zacks Rank #2 (Buy) and an A for Value.

We also note that EGHT holds a PEG ratio of 0.71. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. EGHT's industry has an average PEG of 0.98 right now. Over the last 12 months, EGHT's PEG has been as high as 0.79 and as low as 0.35, with a median of 0.59.

We should also highlight that EGHT has a P/B ratio of 2.22. Investors use the P/B ratio to look at a stock's market value versus its book value, which is defined as total assets minus total liabilities. This stock's P/B looks attractive against its industry's average P/B of 4.41. EGHT's P/B has been as high as 4.01 and as low as 1.70, with a median of 2.31, over the past year.

These are only a few of the key metrics included in 8x8's strong Value grade, but they help show that the stock is likely undervalued right now. When factoring in the strength of its earnings outlook, EGHT looks like an impressive value stock at the moment.

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This article originally published on Zacks Investment Research (zacks.com).

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Source Zacks-com