eGain (NASDAQ:EGAN) Downgraded by StockNews.com to Buy

StockNews.com cut shares of eGain (NASDAQ:EGAN) from a strong-buy rating to a buy rating in a research note released on Tuesday.

A number of other brokerages have also recently issued reports on EGAN. Craig Hallum raised their price objective on shares of eGain from $6.00 to $7.00 and gave the company a “hold” rating in a research note on Friday, September 6th. Roth Mkm reaffirmed a “buy” rating and set a $12.00 price objective on shares of eGain in a research note on Friday, September 6th.

eGain Price Performance

Shares of eGain stock opened at $5.24 on Tuesday. eGain has a 1-year low of $4.71 and a 1-year high of $8.52. The firm’s 50-day moving average price is $5.09 and its two-hundred day moving average price is $6.04. The company has a current ratio of 1.79, a quick ratio of 1.71 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $149.44 million, a price-to-earnings ratio of 27.58 and a beta of 0.44.

eGain (NASDAQ:EGAN) last released its earnings results on Thursday, September 5th. The technology company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.07. The company had revenue of $22.46 million during the quarter, compared to the consensus estimate of $21.37 million. eGain had a return on equity of 9.53% and a net margin of 6.45%. On average, equities analysts predict that eGain will post 0.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of EGAN. BNP Paribas Financial Markets grew its holdings in shares of eGain by 7.0% in the 1st quarter. BNP Paribas Financial Markets now owns 43,377 shares of the technology company’s stock valued at $280,000 after buying an additional 2,852 shares during the period. Vanguard Group Inc. lifted its holdings in shares of eGain by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 2,068,063 shares of the technology company’s stock valued at $13,339,000 after purchasing an additional 10,179 shares in the last quarter. Hillsdale Investment Management Inc. grew its position in shares of eGain by 90.0% in the 1st quarter. Hillsdale Investment Management Inc. now owns 160,972 shares of the technology company’s stock valued at $1,038,000 after purchasing an additional 76,269 shares during the period. Assenagon Asset Management S.A. increased its stake in eGain by 31.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 62,468 shares of the technology company’s stock worth $394,000 after purchasing an additional 14,893 shares in the last quarter. Finally, Acadian Asset Management LLC raised its holdings in eGain by 8.6% during the 2nd quarter. Acadian Asset Management LLC now owns 984,257 shares of the technology company’s stock worth $6,207,000 after buying an additional 78,051 shares during the period. Institutional investors and hedge funds own 53.94% of the company’s stock.

About eGain

eGain Corporation develops, licenses, implements, and supports customer service infrastructure software solutions in North America, Europe, the Middle East, Africa, and the Asia Pacific. It provides eGain Knowledge Hub, which helps businesses to centralize knowledge, policies, procedures, situational expertise, best-practices, while delivering guided, and personalized solutions to customers and agents; eGain Conversation Hub for digital-first, omnichannel interaction management within a modern, purpose-built desktop; and eGain Analytics Hub enables clients to measure, manage, and optimize omnichannel service operations and knowledge.