eGain (EGAN) Raised to Buy at Benchmark

Benchmark upgraded shares of eGain (NASDAQ:EGAN) from a hold rating to a buy rating in a report issued on Friday, MarketBeat Ratings reports. They currently have $8.00 price target on the technology company’s stock.

EGAN has been the subject of several other research reports. Dougherty & Co reissued a buy rating on shares of eGain in a report on Monday, December 18th. Zacks Investment Research lowered shares of eGain from a buy rating to a hold rating in a report on Monday, November 20th. Roth Capital assumed coverage on shares of eGain in a report on Wednesday, January 17th. They issued a buy rating and a $8.00 price target for the company. Finally, ValuEngine lowered shares of eGain from a hold rating to a sell rating in a report on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. eGain has a consensus rating of Buy and an average price target of $6.00.

Shares of eGain (NASDAQ EGAN) traded up $0.40 during mid-day trading on Friday, hitting $5.60. 370,530 shares of the stock traded hands, compared to its average volume of 124,687. eGain has a one year low of $1.30 and a one year high of $6.50. The firm has a market cap of $141.74, a price-to-earnings ratio of -40.00 and a beta of 0.05. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of -0.91.

eGain (NASDAQ:EGAN) last announced its quarterly earnings results on Thursday, February 8th. The technology company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.03. The firm had revenue of $15.40 million during the quarter, compared to analyst estimates of $14.74 million. During the same period last year, the firm earned ($0.04) EPS. eGain’s quarterly revenue was up 2.7% on a year-over-year basis. sell-side analysts predict that eGain will post -0.13 earnings per share for the current year.

In related news, CFO Eric Smit sold 7,500 shares of the company’s stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $5.00, for a total value of $37,500.00. Following the completion of the transaction, the chief financial officer now directly owns 276,303 shares of the company’s stock, valued at approximately $1,381,515. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold a total of 27,500 shares of company stock valued at $140,925 in the last three months. 39.00% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. PenderFund Capital Management Ltd. acquired a new position in eGain in the 4th quarter worth $223,000. Oaktop Capital Management II L.P. boosted its stake in eGain by 24.5% in the 3rd quarter. Oaktop Capital Management II L.P. now owns 2,536,843 shares of the technology company’s stock worth $6,849,000 after purchasing an additional 500,000 shares during the period. Acadian Asset Management LLC boosted its stake in eGain by 1,584.3% in the 4th quarter. Acadian Asset Management LLC now owns 35,674 shares of the technology company’s stock worth $187,000 after purchasing an additional 33,556 shares during the period. Virtu Financial LLC boosted its stake in eGain by 87.1% in the 4th quarter. Virtu Financial LLC now owns 52,773 shares of the technology company’s stock worth $277,000 after purchasing an additional 24,574 shares during the period. Finally, Royce & Associates LP acquired a new position in eGain in the 4th quarter worth $500,000. 51.39% of the stock is owned by hedge funds and other institutional investors.

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About eGain

eGain Corporation (eGain) provides cloud-based and on-site customer engagement software solutions. The Company optimizes service processes across the Web, social and phone channels. The Company’s solutions help business to consumer (B2C) businesses to operationalize digital customer engagement strategies.

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