eGain (NASDAQ:EGAN) Downgraded to “Buy” Rating by StockNews.com

StockNews.com cut shares of eGain (NASDAQ:EGAN) from a strong-buy rating to a buy rating in a research note released on Tuesday morning.

Several other analysts have also issued reports on EGAN. Craig Hallum raised their price target on shares of eGain from $6.00 to $7.00 and gave the stock a “hold” rating in a research report on Friday, September 6th. Roth Mkm reaffirmed a “buy” rating and issued a $12.00 price target on shares of eGain in a report on Friday, September 6th.

eGain Stock Performance

eGain stock opened at $5.79 on Tuesday. eGain has a 52 week low of $4.71 and a 52 week high of $8.52. The firm has a market capitalization of $165.13 million, a PE ratio of 23.16 and a beta of 0.44. The business’s 50-day simple moving average is $5.15 and its 200-day simple moving average is $6.06.

eGain (NASDAQ:EGAN) last issued its quarterly earnings results on Thursday, September 5th. The technology company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.07. eGain had a return on equity of 12.28% and a net margin of 8.38%. The company had revenue of $22.46 million for the quarter, compared to the consensus estimate of $21.37 million. Research analysts forecast that eGain will post 0.01 earnings per share for the current year.

Hedge Funds Weigh In On eGain

A number of hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its stake in eGain by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 681,737 shares of the technology company’s stock valued at $4,301,000 after acquiring an additional 1,752 shares during the period. BNP Paribas Financial Markets grew its stake in shares of eGain by 7.0% in the 1st quarter. BNP Paribas Financial Markets now owns 43,377 shares of the technology company’s stock valued at $280,000 after purchasing an additional 2,852 shares during the period. Sei Investments Co. raised its holdings in shares of eGain by 2.1% in the 2nd quarter. Sei Investments Co. now owns 163,132 shares of the technology company’s stock worth $1,029,000 after buying an additional 3,384 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of eGain by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 2,068,063 shares of the technology company’s stock worth $13,339,000 after buying an additional 10,179 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in eGain by 17.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 73,401 shares of the technology company’s stock valued at $374,000 after buying an additional 10,933 shares in the last quarter. Institutional investors and hedge funds own 53.94% of the company’s stock.

About eGain

eGain Corporation develops, licenses, implements, and supports customer service infrastructure software solutions in North America, Europe, the Middle East, Africa, and the Asia Pacific. It provides eGain Knowledge Hub, which helps businesses to centralize knowledge, policies, procedures, situational expertise, best-practices, while delivering guided, and personalized solutions to customers and agents; eGain Conversation Hub for digital-first, omnichannel interaction management within a modern, purpose-built desktop; and eGain Analytics Hub enables clients to measure, manage, and optimize omnichannel service operations and knowledge.