Zacks Investment Research Lowers eGain (NASDAQ:EGAN) to Hold

Zacks Investment Research cut shares of eGain (NASDAQ:EGAN) from a buy rating to a hold rating in a research report report published on Thursday, Zacks.com reports.

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. “

EGAN has been the subject of a number of other research reports. ValuEngine upgraded shares of eGain from a hold rating to a buy rating in a research note on Thursday, August 1st. BidaskClub upgraded shares of eGain from a hold rating to a buy rating in a research note on Thursday, June 20th. Finally, Craig Hallum cut shares of eGain from a buy rating to a hold rating and cut their target price for the company from $12.00 to $10.00 in a research note on Thursday, May 9th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. eGain has an average rating of Buy and an average target price of $9.50.

Shares of NASDAQ:EGAN traded down $0.04 during trading on Thursday, reaching $7.20. The stock had a trading volume of 66,933 shares, compared to its average volume of 142,972. eGain has a 52 week low of $5.40 and a 52 week high of $15.55. The firm has a 50-day simple moving average of $7.87. The company has a market cap of $219.50 million, a PE ratio of 48.27, a PEG ratio of 1.72 and a beta of 0.63.

eGain (NASDAQ:EGAN) last posted its earnings results on Wednesday, May 8th. The technology company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.05. eGain had a net margin of 5.25% and a return on equity of 225.04%. The company had revenue of $17.00 million during the quarter, compared to analysts’ expectations of $16.60 million. During the same quarter in the previous year, the company posted $0.02 earnings per share. eGain’s quarterly revenue was up 7.9% compared to the same quarter last year. On average, sell-side analysts anticipate that eGain will post 0.16 EPS for the current year.

In related news, SVP Promod Narang sold 22,650 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $8.03, for a total value of $181,879.50. Following the completion of the transaction, the senior vice president now owns 320,118 shares in the company, valued at approximately $2,570,547.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 29,650 shares of company stock valued at $238,070 in the last 90 days. 38.60% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of EGAN. Wasatch Advisors Inc. bought a new stake in shares of eGain during the 1st quarter valued at $3,305,000. PenderFund Capital Management Ltd. raised its position in shares of eGain by 198.5% during the 2nd quarter. PenderFund Capital Management Ltd. now owns 438,203 shares of the technology company’s stock valued at $3,528,000 after acquiring an additional 291,407 shares during the last quarter. Cortina Asset Management LLC raised its position in shares of eGain by 78.1% during the 2nd quarter. Cortina Asset Management LLC now owns 585,565 shares of the technology company’s stock valued at $4,766,000 after acquiring an additional 256,783 shares during the last quarter. Cadence Capital Management LLC bought a new stake in shares of eGain during the 1st quarter valued at $2,376,000. Finally, Marshall Wace LLP bought a new stake in shares of eGain during the 1st quarter valued at $2,139,000. Institutional investors own 79.32% of the company’s stock.

About eGain

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.

Featured Article: What is a stock split?

Get a free copy of the Zacks research report on eGain (EGAN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for eGain Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for eGain and related companies with MarketBeat.com's FREE daily email newsletter.