eGain (EGAN) Rating Lowered to Strong Sell at BidaskClub

BidaskClub lowered shares of eGain (NASDAQ:EGAN) from a sell rating to a strong sell rating in a research report sent to investors on Wednesday, April 3rd, BidAskClub reports.

Separately, Roth Capital reaffirmed a buy rating on shares of eGain in a research report on Friday, February 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The stock has an average rating of Hold and an average target price of $13.75.

eGain stock traded up $0.26 during midday trading on Wednesday, reaching $9.80. The stock had a trading volume of 119,452 shares, compared to its average volume of 335,672. eGain has a 1-year low of $5.40 and a 1-year high of $19.05. The firm has a market cap of $273.44 million, a PE ratio of 89.54, a P/E/G ratio of 2.53 and a beta of 0.51.

eGain (NASDAQ:EGAN) last announced its earnings results on Thursday, February 7th. The technology company reported $0.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.08. The business had revenue of $17.70 million for the quarter, compared to analyst estimates of $16.28 million. eGain had a negative return on equity of 57.09% and a net margin of 3.04%. eGain’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.02 EPS. As a group, analysts anticipate that eGain will post 0.13 EPS for the current fiscal year.

In other news, CFO Eric Smit sold 4,000 shares of eGain stock in a transaction that occurred on Friday, February 8th. The stock was sold at an average price of $9.50, for a total transaction of $38,000.00. Following the completion of the transaction, the chief financial officer now directly owns 142,187 shares in the company, valued at approximately $1,350,776.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brett A. Shockley sold 61,524 shares of eGain stock in a transaction that occurred on Thursday, February 21st. The stock was sold at an average price of $11.58, for a total value of $712,447.92. Following the transaction, the director now owns 986,213 shares of the company’s stock, valued at $11,420,346.54. The disclosure for this sale can be found here. Insiders have sold a total of 142,208 shares of company stock valued at $1,630,075 over the last quarter. 38.60% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EGAN. Wells Fargo & Company MN boosted its stake in eGain by 107.7% in the 3rd quarter. Wells Fargo & Company MN now owns 34,500 shares of the technology company’s stock valued at $279,000 after purchasing an additional 17,888 shares during the period. Dimensional Fund Advisors LP raised its holdings in eGain by 167.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 474,599 shares of the technology company’s stock valued at $3,844,000 after acquiring an additional 296,896 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in eGain in the 3rd quarter valued at $277,000. Renaissance Technologies LLC raised its holdings in eGain by 6.1% in the 3rd quarter. Renaissance Technologies LLC now owns 1,958,700 shares of the technology company’s stock valued at $15,865,000 after acquiring an additional 112,500 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in eGain in the 3rd quarter valued at $163,000. Institutional investors and hedge funds own 77.48% 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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