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

Zacks Investment Research lowered shares of eGain (NASDAQ:EGAN) from a buy rating to a hold rating in a research note issued to investors on Tuesday, 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. “

Separately, TheStreet upgraded shares of eGain from a d rating to a c+ rating in a research note on Wednesday, October 20th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from, the stock has an average rating of Buy and a consensus target price of $11.50.

NASDAQ:EGAN opened at $10.29 on Tuesday. eGain has a 52 week low of $8.50 and a 52 week high of $14.25. The stock has a market capitalization of $322.98 million, a price-to-earnings ratio of 60.53 and a beta of 0.39. The firm has a 50 day moving average of $10.33 and a 200 day moving average of $10.82.

eGain (NASDAQ:EGAN) last issued its quarterly earnings results on Tuesday, November 9th. The technology company reported $0.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.05. eGain had a net margin of 6.78% and a return on equity of 12.25%. The business had revenue of $21.45 million for the quarter, compared to analyst estimates of $21.11 million. During the same quarter in the prior year, the business posted $0.06 EPS.

Several large investors have recently added to or reduced their stakes in EGAN. Citigroup Inc. increased its stake in shares of eGain by 95.6% in the third quarter. Citigroup Inc. now owns 2,688 shares of the technology company’s stock worth $27,000 after acquiring an additional 1,314 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of eGain by 462.2% in the third quarter. BNP Paribas Arbitrage SA now owns 5,212 shares of the technology company’s stock worth $53,000 after acquiring an additional 4,285 shares during the period. Millennium Management LLC acquired a new stake in eGain during the second quarter valued at $116,000. SG Americas Securities LLC acquired a new stake in eGain during the third quarter valued at $125,000. Finally, Wedbush Securities Inc. grew its position in eGain by 9.7% during the third quarter. Wedbush Securities Inc. now owns 13,600 shares of the technology company’s stock valued at $139,000 after buying an additional 1,200 shares during the period. Hedge funds and other institutional investors own 50.82% of the company’s stock.

eGain Company Profile

eGain Corp. engages in the development, licensing, implementation, and support of customer service infrastructure software solutions. Its solutions include financial services, insurance, retail, travel and hospitality, ecommerce, helpdesks, and marketing. The company was founded by Ashutosh Roy and Gunjan Sinha in September 1997 and is headquartered in Sunnyvale, CA.

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