eGain (NASDAQ:EGAN) Stock Rating Reaffirmed by Needham & Company LLC

eGain (NASDAQ:EGAN)‘s stock had its “buy” rating reaffirmed by analysts at Needham & Company LLC in a research report issued on Thursday, AnalystRatings.com reports. They presently have a $11.00 price target on the technology company’s stock. Needham & Company LLC’s price objective indicates a potential upside of 45.50% from the stock’s previous close.

Several other equities analysts have also recently commented on EGAN. ValuEngine cut shares of eGain from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th. Craig Hallum set a $8.00 target price on shares of eGain and gave the company a “hold” rating in a research note on Wednesday, September 4th. Roth Capital set a $15.00 target price on shares of eGain and gave the company a “buy” rating in a research note on Wednesday, September 4th. Finally, Zacks Investment Research raised shares of eGain from a “sell” rating to a “hold” rating in a research note on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $10.75.

EGAN traded down $0.40 during trading hours on Thursday, reaching $7.56. 76,800 shares of the stock traded hands, compared to its average volume of 227,991. The company has a market cap of $246.72 million, a price-to-earnings ratio of 47.25, a PEG ratio of 13.47 and a beta of 0.71. The firm’s fifty day simple moving average is $7.70 and its two-hundred day simple moving average is $7.98. eGain has a fifty-two week low of $5.40 and a fifty-two week high of $12.74.

eGain (NASDAQ:EGAN) last issued its quarterly earnings data on Tuesday, September 3rd. The technology company reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.01). The firm had revenue of $16.82 million during the quarter, compared to the consensus estimate of $16.46 million. eGain had a net margin of 6.20% and a return on equity of 45.23%. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.01 earnings per share. Analysts predict that eGain will post 0.02 EPS for the current year.

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In other news, CFO Eric Smit sold 4,000 shares of eGain stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $8.00, for a total value of $32,000.00. Following the transaction, the chief financial officer now owns 137,187 shares of the company’s stock, valued at approximately $1,097,496. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 11,000 shares of company stock worth $86,780 in the last ninety days. Corporate insiders own 35.20% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in EGAN. Hennessy Advisors Inc. acquired a new position in shares of eGain in the third quarter worth about $82,000. Parametric Portfolio Associates LLC acquired a new position in shares of eGain in the second quarter worth about $82,000. Citadel Advisors LLC acquired a new position in shares of eGain in the second quarter worth about $144,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of eGain in the second quarter worth about $146,000. Finally, PenderFund Capital Management Ltd. boosted its holdings in shares of eGain by 36.2% in the second quarter. PenderFund Capital Management Ltd. now owns 200,000 shares of the technology company’s stock worth $154,000 after buying an additional 53,204 shares during the period. 79.36% of the stock is currently owned by institutional investors.

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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