eGain (NASDAQ:EGAN) Given Buy Rating at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of eGain (NASDAQ:EGAN) in a research report sent to investors on Thursday morning, AnalystRatings.com reports. Needham & Company LLC currently has a $11.00 price objective on the technology company’s stock.

Other research analysts have also recently issued research reports about the stock. ValuEngine cut shares of eGain from a buy rating to a hold rating in a report on Thursday, September 12th. Craig Hallum set a $8.00 price target on shares of eGain and gave the stock a hold rating in a report on Wednesday, September 4th. Roth Capital set a $15.00 price target on shares of eGain and gave the stock a buy rating in a report on Wednesday, September 4th. Finally, Zacks Investment Research raised shares of eGain from a sell rating to a hold rating in a report on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $10.75.

Shares of NASDAQ:EGAN traded down $0.40 during trading on Thursday, reaching $7.56. 76,800 shares of the company were exchanged, compared to its average volume of 227,991. The business’s fifty day simple moving average is $7.70 and its 200-day simple moving average is $7.98. The firm has a market capitalization of $246.72 million, a PE ratio of 47.25, a P/E/G ratio of 13.47 and a beta of 0.71. eGain has a 12-month low of $5.40 and a 12-month high of $12.74.

eGain (NASDAQ:EGAN) last posted its quarterly earnings results on Tuesday, September 3rd. The technology company reported $0.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.01). The company had revenue of $16.82 million during the quarter, compared to analysts’ expectations of $16.46 million. eGain had a return on equity of 45.23% and a net margin of 6.20%. The company’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.01 EPS. On average, sell-side analysts expect that eGain will post 0.02 EPS for the current fiscal year.

In related news, CFO Eric Smit sold 4,000 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $8.00, for a total transaction of $32,000.00. Following the completion of the transaction, the chief financial officer now owns 137,187 shares of the company’s stock, valued at $1,097,496. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last three months, insiders have sold 11,000 shares of company stock valued at $86,780. 35.20% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of the stock. PenderFund Capital Management Ltd. raised its holdings in shares of eGain by 81.2% during the third quarter. PenderFund Capital Management Ltd. now owns 794,085 shares of the technology company’s stock worth $5,948,000 after purchasing an additional 355,882 shares during the last quarter. Hennessy Advisors Inc. purchased a new position in shares of eGain during the third quarter worth $82,000. Nuveen Asset Management LLC purchased a new position in shares of eGain during the second quarter worth $2,181,000. Citadel Advisors LLC purchased a new position in shares of eGain during the second quarter worth $144,000. Finally, D. E. Shaw & Co. Inc. raised its holdings in shares of eGain by 37.9% during the second quarter. D. E. Shaw & Co. Inc. now owns 91,856 shares of the technology company’s stock worth $748,000 after purchasing an additional 25,267 shares during the last quarter. 79.36% of the stock is owned by hedge funds and other institutional investors.

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.

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