eGain (NASDAQ:EGAN) Releases Earnings Results, Beats Expectations By $0.06 EPS

eGain (NASDAQ:EGAN) issued its quarterly earnings results on Thursday. The technology company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.06, FiscalAI reports. The business had revenue of $23.51 million during the quarter, compared to the consensus estimate of $23.22 million. eGain had a return on equity of 5.41% and a net margin of 36.47%.

eGain Stock Down 25.7%

Shares of eGain stock traded down $3.89 during trading on Thursday, hitting $11.22. The stock had a trading volume of 1,068,805 shares, compared to its average volume of 142,653. eGain has a 1 year low of $4.34 and a 1 year high of $15.95. The stock has a 50 day simple moving average of $11.62 and a 200 day simple moving average of $7.95. The company has a market capitalization of $303.02 million, a PE ratio of 9.67 and a beta of 0.49.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on EGAN. Weiss Ratings restated a “hold (c+)” rating on shares of eGain in a research report on Tuesday, October 14th. Roth Capital reaffirmed a “buy” rating and issued a $20.00 target price (up from $10.00) on shares of eGain in a research report on Thursday. Wall Street Zen cut eGain from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Zacks Research downgraded shares of eGain from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $15.00.

eGain announced that its Board of Directors has approved a stock repurchase program on Thursday, September 4th that allows the company to repurchase $20.00 million in outstanding shares. This repurchase authorization allows the technology company to repurchase up to 11.7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at eGain

In other news, CFO Eric Smit sold 5,000 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $14.44, for a total value of $72,200.00. Following the completion of the sale, the chief financial officer directly owned 129,187 shares of the company’s stock, valued at approximately $1,865,460.28. This represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 38.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in EGAN. Jane Street Group LLC boosted its holdings in shares of eGain by 53.7% during the 1st quarter. Jane Street Group LLC now owns 47,726 shares of the technology company’s stock worth $231,000 after buying an additional 16,678 shares in the last quarter. Geode Capital Management LLC lifted its stake in eGain by 3.4% in the 2nd quarter. Geode Capital Management LLC now owns 449,899 shares of the technology company’s stock worth $2,812,000 after purchasing an additional 14,978 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its position in eGain by 29.3% in the third quarter. BNP Paribas Financial Markets now owns 6,317 shares of the technology company’s stock worth $55,000 after acquiring an additional 1,432 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.