eGain (NASDAQ:EGAN) Rating Increased to Buy at Zacks Investment Research

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eGain (NASDAQ:EGAN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Friday, Zacks.com reports. The brokerage currently has a $11.00 price objective on the technology company’s stock. Zacks Investment Research‘s target price points to a potential upside of 8.16% from the company’s current price.

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 analysts have also recently issued research reports about the stock. Rowe assumed coverage on shares of eGain in a research report on Thursday, December 12th. They set an “outperform” rating and a $12.00 price objective on the stock. They noted that the move was a valuation call. Oppenheimer assumed coverage on shares of eGain in a research report on Thursday, December 12th. They set a “buy” rating and a $12.00 price objective on the stock. Needham & Company LLC restated a “buy” rating and set a $11.00 price objective on shares of eGain in a research report on Friday, February 7th. Craig Hallum upgraded shares of eGain from a “hold” rating to a “buy” rating and raised their price objective for the company from $8.00 to $12.00 in a research report on Friday, February 7th. Finally, BidaskClub upgraded shares of eGain from a “strong sell” rating to a “sell” rating in a research report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. eGain has a consensus rating of “Buy” and a consensus price target of $12.17.

Shares of eGain stock traded up $0.01 on Friday, hitting $10.17. 142,957 shares of the company traded hands, compared to its average volume of 140,066. The firm’s 50-day simple moving average is $8.26 and its 200 day simple moving average is $7.80. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.08. The company has a market cap of $309.13 million, a P/E ratio of 63.57, a P/E/G ratio of 6.73 and a beta of 0.65. eGain has a 12-month low of $6.36 and a 12-month high of $12.74.

eGain (NASDAQ:EGAN) last posted its quarterly earnings data on Thursday, February 6th. The technology company reported $0.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.07. The firm had revenue of $18.20 million for the quarter, compared to analysts’ expectations of $17.55 million. eGain had a net margin of 6.87% and a return on equity of 19.96%. The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the company posted $0.09 EPS. Analysts predict that eGain will post 0.08 earnings per share for the current year.

In related 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 transaction, the director now owns 936,795 shares in the company, valued at approximately $9,517,837.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last quarter, insiders sold 33,000 shares of company stock worth $328,440. 35.20% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the stock. Citigroup Inc. raised its position in eGain by 59.6% in the 4th quarter. Citigroup Inc. now owns 4,084 shares of the technology company’s stock worth $32,000 after purchasing an additional 1,525 shares during the period. Hennessy Advisors Inc. increased its position in shares of eGain by 12.7% in the fourth quarter. Hennessy Advisors Inc. now owns 11,497 shares of the technology company’s stock valued at $91,000 after acquiring an additional 1,293 shares during the period. Barclays PLC increased its position in shares of eGain by 96.1% in the fourth quarter. Barclays PLC now owns 20,374 shares of the technology company’s stock valued at $161,000 after acquiring an additional 9,986 shares during the period. UBS Group AG increased its position in shares of eGain by 54.3% in the fourth quarter. UBS Group AG now owns 27,084 shares of the technology company’s stock valued at $214,000 after acquiring an additional 9,529 shares during the period. Finally, California State Teachers Retirement System increased its position in shares of eGain by 11.8% in the third quarter. California State Teachers Retirement System now owns 35,072 shares of the technology company’s stock valued at $281,000 after acquiring an additional 3,695 shares during the period. Institutional investors own 47.21% 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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