eGain (NASDAQ:EGAN) Downgraded to Hold at Zacks Investment Research

eGain (NASDAQ:EGAN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, 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. “

Other equities research analysts also recently issued reports about the stock. ValuEngine upgraded shares of eGain from a “buy” rating to a “strong-buy” rating in a research note on Monday, February 10th. BidaskClub upgraded shares of eGain from a “strong sell” rating to a “sell” rating in a research note on Tuesday, February 11th. Rowe initiated coverage on shares of eGain in a research note on Thursday, December 12th. They issued an “outperform” rating and a $12.00 price target on the stock. They noted that the move was a valuation call. Oppenheimer initiated coverage on shares of eGain in a research note on Thursday, December 12th. They issued a “buy” rating and a $12.00 price target on the stock. Finally, Craig Hallum upgraded shares of eGain from a “hold” rating to a “buy” rating and raised their price target for the company from $8.00 to $12.00 in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $12.17.

EGAN stock traded down $0.03 during mid-day trading on Wednesday, hitting $9.21. The stock had a trading volume of 121,590 shares, compared to its average volume of 145,587. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.08. eGain has a 52 week low of $6.36 and a 52 week high of $12.74. The firm has a market capitalization of $280.36 million, a P/E ratio of 57.57, a P/E/G ratio of 6.51 and a beta of 0.65. The firm has a fifty day simple moving average of $8.44 and a 200 day simple moving average of $7.87.

eGain (NASDAQ:EGAN) last released its earnings results on Thursday, February 6th. The technology company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.01 by $0.07. eGain had a net margin of 6.87% and a return on equity of 19.96%. The firm had revenue of $18.20 million for the quarter, compared to analyst estimates of $17.55 million. During the same period last year, the firm earned $0.09 EPS. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. As a group, equities analysts expect that eGain will post 0.08 earnings per share for the current fiscal year.

In other news, Director Gunjan Sinha sold 30,000 shares of eGain stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $10.16, for a total value of $304,800.00. Following the completion of the sale, the director now owns 936,795 shares in the company, valued at approximately $9,517,837.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders have sold 33,000 shares of company stock valued at $328,440. Company insiders own 35.20% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. PenderFund Capital Management Ltd. increased its stake in eGain by 81.2% during the 3rd quarter. PenderFund Capital Management Ltd. now owns 794,085 shares of the technology company’s stock valued at $5,948,000 after purchasing an additional 355,882 shares in the last quarter. Millennium Management LLC increased its stake in eGain by 1,543.1% during the 3rd quarter. Millennium Management LLC now owns 299,462 shares of the technology company’s stock valued at $2,397,000 after purchasing an additional 281,237 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. bought a new stake in eGain during the 4th quarter valued at $1,732,000. Oxford Asset Management LLP bought a new stake in eGain during the 4th quarter valued at $759,000. Finally, Marshall Wace LLP bought a new stake in eGain during the 4th quarter valued at $713,000. Institutional investors own 47.10% 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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