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eGain’s (EGAN) Buy Rating Reaffirmed at Needham & Company LLC

eGain (NASDAQ:EGAN)‘s stock had its “buy” rating reissued by research analysts at Needham & Company LLC in a report issued on Thursday, AnalystRatings.com reports. They presently have a $11.00 price target on the technology company’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 45.50% from the stock’s current price.

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Several other brokerages also recently commented on EGAN. Craig Hallum set a $8.00 target price on shares of eGain and gave the company a “hold” rating in a research note on Wednesday, September 4th. Roth Capital set a $15.00 target price on shares of eGain and gave the company a “buy” rating in a research note on Wednesday, September 4th. ValuEngine downgraded shares of eGain from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th. Finally, Zacks Investment Research upgraded shares of eGain from a “sell” rating to a “hold” rating in a research note on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $10.75.

Shares of NASDAQ:EGAN traded down $0.40 during trading on Thursday, reaching $7.56. The stock had a trading volume of 76,800 shares, compared to its average volume of 227,991. The firm has a market capitalization of $246.72 million, a price-to-earnings ratio of 47.25, a P/E/G ratio of 13.47 and a beta of 0.71. The stock has a fifty day simple moving average of $7.70 and a two-hundred day simple moving average of $7.98. eGain has a 52 week low of $5.40 and a 52 week high of $12.74.

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

In other news, CFO Eric Smit sold 4,000 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $8.00, for a total value of $32,000.00. Following the sale, the chief financial officer now owns 137,187 shares in the company, valued at approximately $1,097,496. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 11,000 shares of company stock worth $86,780 in the last 90 days. 35.20% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Hennessy Advisors Inc. acquired a new position in eGain during the 3rd quarter worth about $82,000. Parametric Portfolio Associates LLC acquired a new position in eGain during the 2nd quarter worth about $82,000. Citadel Advisors LLC acquired a new position in eGain during the 2nd quarter worth about $144,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in eGain during the 2nd quarter worth about $146,000. Finally, PenderFund Capital Management Ltd. lifted its position in eGain by 36.2% during the 2nd quarter. PenderFund Capital Management Ltd. now owns 200,000 shares of the technology company’s stock worth $154,000 after buying an additional 53,204 shares in the last quarter. Institutional investors and hedge funds own 79.36% of the company’s stock.

About eGain

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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