Zacks Investment Research upgraded shares of eGain (NASDAQ:EGAN) from a hold rating to a strong-buy rating in a report released on Monday, Zacks.com reports. The firm currently has $9.50 target price on the technology company’s stock.
According to Zacks, “eGain Corporation provides customer engagement solutions. It offers web customer interaction applications, social customer interaction applications and contact center applications. The company also provides consulting, implementation and training services as well as maintenance and support services. eGain Corporation, formerly known as eGain Communications Corporation, is headquartered in Sunnyvale, California. “
A number of other research analysts have also recently commented on the company. BidaskClub cut eGain from a sell rating to a strong sell rating in a research note on Wednesday, April 3rd. Roth Capital restated a buy rating on shares of eGain in a research note on Friday, February 8th. ValuEngine cut eGain from a buy rating to a hold rating in a research note on Thursday, April 18th. Finally, Craig Hallum cut eGain from a buy rating to a hold rating and decreased their price target for the stock from $12.00 to $10.00 in a research note on Thursday, May 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $12.88.
EGAN traded down $0.37 during trading hours on Monday, reaching $8.43. The company’s stock had a trading volume of 52,154 shares, compared to its average volume of 225,030. eGain has a fifty-two week low of $5.40 and a fifty-two week high of $19.05. The stock has a market capitalization of $265.74 million, a PE ratio of 58.43, a P/E/G ratio of 1.83 and a beta of 0.46.
eGain (NASDAQ:EGAN) last released its quarterly earnings data on Wednesday, May 8th. The technology company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.05. eGain had a return on equity of 225.04% and a net margin of 5.25%. The firm had revenue of $17.00 million for the quarter, compared to analysts’ expectations of $16.60 million. During the same period in the prior year, the firm posted $0.02 earnings per share. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. As a group, equities analysts predict that eGain will post 0.16 earnings per share for the current year.
In other news, SVP Promod Narang sold 15,000 shares of the stock in a transaction on Thursday, February 21st. The stock was sold at an average price of $11.90, for a total value of $178,500.00. Following the sale, the senior vice president now directly owns 15,000 shares in the company, valued at $178,500. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Eric Smit sold 5,000 shares of the stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $9.97, for a total value of $49,850.00. The disclosure for this sale can be found here. Insiders have sold 142,208 shares of company stock worth $1,634,785 over the last 90 days. 38.60% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Nokomis Capital L.L.C. acquired a new stake in shares of eGain in the first quarter valued at $779,000. Schonfeld Strategic Advisors LLC purchased a new position in eGain in the first quarter valued at $127,000. SEI Investments Co purchased a new position in eGain in the first quarter valued at $121,000. Marshall Wace LLP purchased a new position in eGain in the first quarter valued at $2,139,000. Finally, Formula Growth Ltd. purchased a new position in eGain in the first quarter valued at $836,000. Institutional investors and hedge funds own 78.01% of the company’s stock.
eGain Company Profile
eGain Corporation operates as a software-as-a service provider of customer engagement solutions in the United States, the United Kingdom, India, and internationally. It provides eGain solution, a unified cloud software solution to automate, augment, and orchestrate customer engagement, including digital-first, Omni channel desktop, artificial intelligence (AI) and knowledge, and analytics and machine learning applications, as well as platform APIs and pre-built third-party connectors.
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