eGain (NASDAQ:EGAN) Upgraded to “Hold” at ValuEngine

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eGain (NASDAQ:EGAN) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Monday, June 17th, ValuEngine reports.

A number of other equities research analysts have also recently commented on the stock. BidaskClub upgraded shares of eGain from a “strong sell” rating to a “sell” rating in a report on Friday, May 17th. Zacks Investment Research cut shares of eGain from a “buy” rating to a “hold” rating in a report on Monday, April 29th. Finally, Craig Hallum cut shares of eGain from a “buy” rating to a “hold” rating and reduced their price target for the stock from $12.00 to $10.00 in a report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $11.83.

NASDAQ EGAN traded down $0.18 during mid-day trading on Monday, reaching $7.96. 116,032 shares of the stock were exchanged, compared to its average volume of 289,437. eGain has a one year low of $5.40 and a one year high of $19.05. The company has a 50 day moving average of $8.24. The stock has a market cap of $241.33 million, a PE ratio of 54.27, a P/E/G ratio of 1.70 and a beta of 0.66.

eGain (NASDAQ:EGAN) last announced its earnings results on Wednesday, May 8th. The technology company reported $0.06 earnings per share for the quarter, topping 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 business had revenue of $17.00 million during the quarter, compared to the consensus estimate of $16.60 million. During the same quarter last year, the firm earned $0.02 earnings per share. eGain’s quarterly revenue was up 7.9% on a year-over-year basis. Research analysts expect that eGain will post 0.16 earnings per share for the current fiscal year.

In other news, CFO Eric Smit sold 5,000 shares of eGain stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $9.97, for a total transaction of $49,850.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Promod Narang sold 22,650 shares of eGain stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $8.03, for a total transaction of $181,879.50. Following the transaction, the senior vice president now owns 320,118 shares of the company’s stock, valued at $2,570,547.54. The disclosure for this sale can be found here. Insiders sold 33,650 shares of company stock valued at $280,090 over the last 90 days. Corporate insiders own 38.60% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Cortina Asset Management LLC boosted its holdings in eGain by 78.1% during the second quarter. Cortina Asset Management LLC now owns 585,565 shares of the technology company’s stock worth $4,766,000 after purchasing an additional 256,783 shares during the last quarter. Marshall Wace North America L.P. bought a new stake in eGain in the first quarter worth about $114,000. Marshall Wace LLP bought a new stake in eGain in the first quarter worth about $2,139,000. Formula Growth Ltd. bought a new stake in eGain in the first quarter worth about $836,000. Finally, Granite Investment Partners LLC raised its position in eGain by 87.2% in the first quarter. Granite Investment Partners LLC now owns 197,617 shares of the technology company’s stock worth $2,065,000 after acquiring an additional 92,025 shares during the period. Institutional investors and hedge funds own 78.61% 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.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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