Needham & Company LLC reaffirmed their buy rating on shares of eGain (NASDAQ:EGAN) in a research note released on Thursday morning, AnalystRatings.com reports. They currently have a $11.00 price objective on the technology company’s stock.
Several other research firms also recently weighed in on EGAN. ValuEngine downgraded shares of eGain from a buy rating to a hold rating in a report on Thursday, September 12th. Roth Capital set a $15.00 price objective on shares of eGain and gave the stock a buy rating in a report on Wednesday, September 4th. Craig Hallum set a $8.00 price objective on shares of eGain and gave the stock a hold 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 analysts have rated the stock with a hold rating and four have given a buy rating to the company. eGain presently has a consensus rating of Buy and an average price target of $10.75.
Shares of NASDAQ:EGAN traded down $0.40 during midday trading on Thursday, reaching $7.56. The company had a trading volume of 76,800 shares, compared to its average volume of 227,991. eGain has a one year low of $5.40 and a one year high of $12.74. The stock has a market capitalization of $246.72 million, a P/E ratio of 47.25, a PEG ratio of 13.47 and a beta of 0.71. The stock’s fifty day moving average price is $7.70 and its 200-day moving average price is $7.98.
In related news, CFO Eric Smit sold 4,000 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $8.00, for a total value of $32,000.00. Following the completion of the sale, the chief financial officer now owns 137,187 shares of the company’s stock, valued at $1,097,496. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 11,000 shares of company stock valued at $86,780 in the last ninety days. Corporate insiders own 35.20% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Hennessy Advisors Inc. bought a new stake in eGain in the third quarter worth about $82,000. Parametric Portfolio Associates LLC bought a new stake in eGain in the second quarter worth about $82,000. Citadel Advisors LLC bought a new stake in eGain in the second quarter worth about $144,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in eGain in the second quarter worth about $146,000. Finally, PenderFund Capital Management Ltd. raised its position in eGain by 36.2% in the second quarter. PenderFund Capital Management Ltd. now owns 200,000 shares of the technology company’s stock worth $154,000 after acquiring an additional 53,204 shares in the last quarter. Hedge funds and other institutional investors own 79.36% of the company’s stock.
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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