Wall Street Zen Downgrades eGain (NASDAQ:EGAN) to Hold

eGain (NASDAQ:EGAN) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Separately, Roth Mkm reissued a “buy” rating and issued a $10.00 target price (down from $12.00) on shares of eGain in a research note on Friday, February 14th.

eGain Stock Performance

NASDAQ:EGAN opened at $5.98 on Friday. eGain has a 52-week low of $4.34 and a 52-week high of $7.62. The company has a market cap of $163.56 million, a P/E ratio of 42.71 and a beta of 0.37. The stock’s 50-day simple moving average is $5.21 and its 200 day simple moving average is $5.48.

eGain (NASDAQ:EGAN) last posted its quarterly earnings results on Wednesday, May 14th. The technology company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. The firm had revenue of $21.01 million during the quarter, compared to the consensus estimate of $21.24 million. eGain had a return on equity of 7.41% and a net margin of 4.86%. As a group, equities analysts predict that eGain will post 0.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On eGain

Hedge funds have recently bought and sold shares of the company. Wells Fargo & Company MN increased its position in eGain by 36.8% during the fourth quarter. Wells Fargo & Company MN now owns 8,173 shares of the technology company’s stock worth $51,000 after buying an additional 2,197 shares during the last quarter. Occudo Quantitative Strategies LP bought a new position in shares of eGain during the 4th quarter worth approximately $71,000. Jefferies Financial Group Inc. acquired a new position in shares of eGain during the 1st quarter worth approximately $83,000. O Shaughnessy Asset Management LLC raised its stake in eGain by 37.5% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 27,009 shares of the technology company’s stock valued at $168,000 after acquiring an additional 7,373 shares during the period. Finally, Legato Capital Management LLC lifted its holdings in eGain by 60.6% during the 4th quarter. Legato Capital Management LLC now owns 29,573 shares of the technology company’s stock valued at $184,000 after purchasing an additional 11,155 shares during the last quarter. 53.94% of the stock is currently owned by institutional investors and hedge funds.

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.