eGain (NASDAQ:EGAN) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of eGain (NASDAQ:EGAN) in a research note issued to investors on Thursday morning, AnalystRatings.com reports. Needham & Company LLC currently has a $11.00 price target on the technology company’s stock.

EGAN has been the topic of several other reports. Roth Capital set a $15.00 price target on shares of eGain and gave the stock a buy rating in a research note on Wednesday, September 4th. ValuEngine cut shares of eGain from a buy rating to a hold rating in a research note on Thursday, September 12th. Zacks Investment Research raised shares of eGain from a sell rating to a hold rating in a research note on Tuesday, November 5th. Finally, Craig Hallum set a $8.00 price target on shares of eGain and gave the stock a hold rating in a research note on Wednesday, September 4th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $10.75.

Shares of EGAN stock traded down $0.40 during mid-day trading on Thursday, hitting $7.56. The stock had a trading volume of 76,800 shares, compared to its average volume of 227,991. eGain has a fifty-two week low of $5.40 and a fifty-two week high of $12.74. The firm has a market cap of $246.72 million, a PE ratio of 47.25, a PEG ratio of 13.47 and a beta of 0.71. The company’s 50-day simple moving average is $7.70 and its 200-day simple moving average is $7.98.

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

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In related news, CFO Eric Smit sold 4,000 shares of the firm’s 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 sale, the chief financial officer now directly owns 137,187 shares of the company’s stock, valued at $1,097,496. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 11,000 shares of company stock worth $86,780 over the last three months. Corporate insiders own 35.20% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in EGAN. Cortina Asset Management LLC boosted its position in shares of eGain by 78.1% in the second quarter. Cortina Asset Management LLC now owns 585,565 shares of the technology company’s stock worth $4,766,000 after acquiring an additional 256,783 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of eGain in the second quarter worth approximately $171,000. PenderFund Capital Management Ltd. boosted its position 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 acquiring an additional 53,204 shares during the last quarter. Chicago Equity Partners LLC acquired a new stake in shares of eGain in the second quarter worth approximately $679,000. Finally, Wasatch Advisors Inc. boosted its position in shares of eGain by 33.4% in the second quarter. Wasatch Advisors Inc. now owns 421,764 shares of the technology company’s stock worth $3,433,000 after acquiring an additional 105,502 shares during the last quarter. 79.36% of the stock is currently owned by institutional investors and hedge funds.

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.

Further Reading: Equal Weight Rating

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