eGain (NASDAQ:EGAN) Cut to Buy at StockNews.com

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

EGAN has been the subject of several other research reports. Craig Hallum lifted their target price on shares of eGain from $6.00 to $7.00 and gave the stock a “hold” rating in a report on Friday, September 6th. Roth Mkm restated a “buy” rating and set a $12.00 price objective on shares of eGain in a report on Friday, September 6th.

eGain Stock Performance

eGain stock traded down $0.14 during midday trading on Tuesday, reaching $5.24. 7,735 shares of the company’s stock were exchanged, compared to its average volume of 81,086. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.71 and a current ratio of 1.79. The stock’s 50-day simple moving average is $5.10 and its 200 day simple moving average is $6.05. The firm has a market cap of $149.44 million, a price-to-earnings ratio of 28.32 and a beta of 0.44. eGain has a 52 week low of $4.71 and a 52 week high of $8.52.

eGain (NASDAQ:EGAN) last posted its earnings results on Thursday, September 5th. The technology company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.07. eGain had a return on equity of 9.53% and a net margin of 6.45%. The business had revenue of $22.46 million for the quarter, compared to analyst estimates of $21.37 million. On average, analysts expect that eGain will post 0.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On eGain

Several institutional investors and hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets boosted its holdings in 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. Vanguard Group Inc. raised its position in shares of eGain by 0.5% in the first quarter. Vanguard Group Inc. now owns 2,068,063 shares of the technology company’s stock valued at $13,339,000 after buying an additional 10,179 shares in the last quarter. Hillsdale Investment Management Inc. boosted its stake in shares of eGain by 90.0% in the first quarter. Hillsdale Investment Management Inc. now owns 160,972 shares of the technology company’s stock valued at $1,038,000 after buying an additional 76,269 shares during the period. Assenagon Asset Management S.A. grew its position in eGain by 31.3% during the second quarter. Assenagon Asset Management S.A. now owns 62,468 shares of the technology company’s stock worth $394,000 after buying an additional 14,893 shares in the last quarter. Finally, Acadian Asset Management LLC increased its stake in eGain by 8.6% during the 2nd quarter. Acadian Asset Management LLC now owns 984,257 shares of the technology company’s stock worth $6,207,000 after acquiring an additional 78,051 shares during the period. 53.94% of the stock is currently owned by institutional investors and hedge funds.

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.