eGain (NASDAQ:EGAN) Upgraded by Zacks Investment Research to Buy

eGain (NASDAQ:EGAN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Friday, Zacks.com reports. The brokerage currently has a $11.00 target price on the technology company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 8.06% from the stock’s current price.

According to Zacks, “eGain Corporation provides customer engagement solutions. It offers web customer interaction applications, social customer interaction applications and contact center applications. The company also provides consulting, implementation and training services as well as maintenance and support services. eGain Corporation, formerly known as eGain Communications Corporation, is headquartered in Sunnyvale, California. “

A number of other equities analysts also recently commented on the company. ValuEngine raised eGain from a “buy” rating to a “strong-buy” rating in a research report on Monday. Rowe assumed coverage on eGain in a research report on Thursday, December 12th. They set an “outperform” rating and a $12.00 price objective for the company. They noted that the move was a valuation call. BidaskClub raised eGain from a “strong sell” rating to a “sell” rating in a research report on Tuesday. Oppenheimer initiated coverage on eGain in a report on Thursday, December 12th. They issued a “buy” rating and a $12.00 price target for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 price target on shares of eGain in a report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, six have given a buy rating and one has given a strong buy rating to the stock. eGain has a consensus rating of “Buy” and a consensus target price of $12.17.

Shares of eGain stock traded up $0.41 on Friday, reaching $10.18. 210,884 shares of the company were exchanged, compared to its average volume of 137,496. eGain has a 1-year low of $6.36 and a 1-year high of $12.74. The company has a market cap of $311.89 million, a P/E ratio of 63.63 and a beta of 0.65. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.31 and a quick ratio of 1.31. The stock’s 50 day moving average price is $7.97 and its 200-day moving average price is $7.72.

eGain (NASDAQ:EGAN) last announced its quarterly earnings data on Thursday, February 6th. The technology company reported $0.08 EPS for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.07. eGain had a return on equity of 21.00% and a net margin of 6.87%. The business had revenue of $18.20 million during the quarter, compared to the consensus estimate of $17.55 million. During the same period in the previous year, the company posted $0.09 earnings per share. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, research analysts predict that eGain will post -0.01 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in eGain by 6.7% in the second quarter. Vanguard Group Inc. now owns 1,710,225 shares of the technology company’s stock valued at $13,921,000 after purchasing an additional 107,097 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of eGain by 12.3% in the second quarter. BlackRock Inc. now owns 1,295,245 shares of the technology company’s stock valued at $10,542,000 after acquiring an additional 141,491 shares during the period. PenderFund Capital Management Ltd. boosted its holdings in shares of eGain by 39.3% in the fourth quarter. PenderFund Capital Management Ltd. now owns 1,106,345 shares of the technology company’s stock valued at $11,375,000 after acquiring an additional 312,260 shares during the period. State Street Corp boosted its holdings in shares of eGain by 6.3% in the fourth quarter. State Street Corp now owns 425,967 shares of the technology company’s stock valued at $3,374,000 after acquiring an additional 25,375 shares during the period. Finally, Acadian Asset Management LLC boosted its holdings in shares of eGain by 20.3% in the fourth quarter. Acadian Asset Management LLC now owns 406,531 shares of the technology company’s stock valued at $3,218,000 after acquiring an additional 68,733 shares during the period. 74.15% of the stock is owned by hedge funds and other institutional investors.

eGain Company Profile

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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