eGain (EGAN) Rating Increased to Sell at BidaskClub

BidaskClub upgraded shares of eGain (NASDAQ:EGAN) from a strong sell rating to a sell rating in a report released on Friday, BidAskClub reports.

EGAN has been the topic of a number of other reports. Roth Capital reaffirmed a buy rating on shares of eGain in a research note on Friday, February 8th. Zacks Investment Research raised eGain from a hold rating to a strong-buy rating and set a $9.50 price target on the stock in a research note on Monday, May 13th. Craig Hallum cut eGain from a buy rating to a hold rating and decreased their price target for the stock from $12.00 to $10.00 in a research note on Thursday, May 9th. Finally, ValuEngine cut eGain from a buy rating to a hold rating in a research note on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $12.88.

Shares of NASDAQ EGAN traded down $0.26 during trading hours on Friday, reaching $8.54. 277,546 shares of the stock traded hands, compared to its average volume of 224,704. The stock has a market cap of $266.80 million, a price-to-earnings ratio of 58.67, a P/E/G ratio of 1.83 and a beta of 0.46. eGain has a 52-week low of $5.40 and a 52-week high of $19.05.

eGain (NASDAQ:EGAN) last announced its quarterly earnings data on Wednesday, May 8th. The technology company reported $0.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.05. The company had revenue of $17.00 million for the quarter, compared to analysts’ expectations of $16.60 million. eGain had a return on equity of 225.04% and a net margin of 5.25%. eGain’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period last year, the firm posted $0.02 EPS. As a group, sell-side analysts anticipate that eGain will post 0.16 earnings per share for the current fiscal year.

In other eGain news, Director Brett A. Shockley sold 48,684 shares of eGain stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $11.56, for a total value of $562,787.04. Following the transaction, the director now directly owns 1,316 shares of the company’s stock, valued at approximately $15,212.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Promod Narang sold 15,000 shares of eGain stock in a transaction that occurred on Thursday, February 21st. The stock was sold at an average price of $11.90, for a total value of $178,500.00. Following the completion of the transaction, the senior vice president now directly owns 15,000 shares in the company, valued at $178,500. The disclosure for this sale can be found here. Insiders sold a total of 142,208 shares of company stock worth $1,634,785 over the last ninety days. Insiders own 38.60% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. California State Teachers Retirement System increased its stake in eGain by 4.7% in the 1st quarter. California State Teachers Retirement System now owns 28,328 shares of the technology company’s stock worth $296,000 after purchasing an additional 1,278 shares during the period. Deutsche Bank AG grew its position in shares of eGain by 7.7% in the 4th quarter. Deutsche Bank AG now owns 38,288 shares of the technology company’s stock worth $250,000 after buying an additional 2,724 shares during the last quarter. Quantamental Technologies LLC bought a new stake in shares of eGain in the 1st quarter worth approximately $31,000. BNP Paribas Arbitrage SA grew its position in shares of eGain by 8,721.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,705 shares of the technology company’s stock worth $39,000 after buying an additional 3,663 shares during the last quarter. Finally, Optimum Investment Advisors bought a new stake in shares of eGain in the 1st quarter worth approximately $52,000. 78.01% of the stock is currently owned by institutional investors and hedge funds.

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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