eGain (EGAN) Rating Increased to Buy at Zacks Investment Research

eGain (NASDAQ:EGAN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday, Zacks.com reports. The firm currently has a $11.00 price target on the technology company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 14.23% from the company’s current price.

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. “

Several other research analysts have also recently issued reports on EGAN. Roth Capital reiterated a “buy” rating on shares of eGain in a report on Friday, February 8th. ValuEngine cut shares of eGain from a “buy” rating to a “hold” rating in a report on Thursday. Finally, BidaskClub upgraded shares of eGain from a “strong sell” rating to a “sell” rating in a report on Saturday, April 13th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $13.75.

NASDAQ EGAN traded down $0.24 on Thursday, hitting $9.63. The stock had a trading volume of 191,333 shares, compared to its average volume of 347,774. eGain has a one year low of $5.40 and a one year high of $19.05. The stock has a market cap of $275.39 million, a price-to-earnings ratio of 92.82, a price-to-earnings-growth ratio of 2.62 and a beta of 0.51.

eGain (NASDAQ:EGAN) last posted its earnings results on Thursday, February 7th. The technology company reported $0.07 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.08. eGain had a net margin of 3.04% and a negative return on equity of 57.09%. The firm had revenue of $17.70 million during the quarter, compared to analysts’ expectations of $16.28 million. During the same quarter in the prior year, the firm earned $0.02 EPS. eGain’s quarterly revenue was up 14.9% on a year-over-year basis. As a group, equities research analysts anticipate that eGain will post 0.13 earnings per share for the current year.

In related news, Director Brett A. Shockley sold 61,524 shares of the stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $11.58, for a total transaction of $712,447.92. Following the completion of the sale, the director now directly owns 986,213 shares of the company’s stock, valued at $11,420,346.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Promod Narang sold 15,000 shares of the stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $11.90, for a total transaction of $178,500.00. Following the sale, the senior vice president now directly owns 15,000 shares of the company’s stock, valued at $178,500. The disclosure for this sale can be found here. Insiders sold 142,208 shares of company stock valued at $1,630,075 over the last quarter. Insiders own 38.60% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in EGAN. Deutsche Bank AG increased its position in eGain by 7.7% in the 4th quarter. Deutsche Bank AG now owns 38,288 shares of the technology company’s stock valued at $250,000 after acquiring an additional 2,724 shares in the last quarter. Geode Capital Management LLC increased its position in eGain by 6.9% in the 4th quarter. Geode Capital Management LLC now owns 198,613 shares of the technology company’s stock valued at $1,304,000 after acquiring an additional 12,776 shares in the last quarter. Dimensional Fund Advisors LP increased its position in eGain by 15.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 546,940 shares of the technology company’s stock valued at $3,593,000 after acquiring an additional 72,341 shares in the last quarter. D. E. Shaw & Co. Inc. increased its position in eGain by 51.7% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 74,282 shares of the technology company’s stock valued at $488,000 after acquiring an additional 25,320 shares in the last quarter. Finally, Bank of America Corp DE increased its position in eGain by 44.3% in the 4th quarter. Bank of America Corp DE now owns 21,589 shares of the technology company’s stock valued at $142,000 after acquiring an additional 6,628 shares in the last quarter. 77.48% of the stock is owned by institutional investors and hedge funds.

eGain Company Profile

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.

Recommended Story: Does the Step Transaction Doctrine Affect a Backdoor Roth IRA?

Get a free copy of the Zacks research report on eGain (EGAN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for eGain Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for eGain and related companies with MarketBeat.com's FREE daily email newsletter.