eGain (NASDAQ:EGAN) Share Price Crosses Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• eGain's stock price has recently surpassed its 200-day moving average, indicating a potential upward trend, with the shares trading at $9.30 after reaching a high of $9.64.
• Analysts have upgraded eGain from a "hold" to a "buy" rating, with a consensus price target of $10.00.
• eGain's board has authorized a $20 million stock repurchase plan, signaling confidence in the company's undervalued stock.

eGain Corporation (NASDAQ:EGAN - Get Free Report)'s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $5.87 and traded as high as $9.64. eGain shares last traded at $9.30, with a volume of 362,586 shares traded.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of eGain from a "hold" rating to a "buy" rating in a research note on Saturday, September 6th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, eGain has a consensus rating of "Buy" and an average price target of $10.00.

eGain Stock Performance

The firm's 50 day moving average price is $6.74 and its two-hundred day moving average price is $5.87. The firm has a market cap of $249.89 million, a PE ratio of 8.09 and a beta of 0.30.

eGain announced that its board has authorized a stock repurchase plan on Thursday, September 4th that permits the company to repurchase $20.00 million in shares. This repurchase authorization permits the technology company to reacquire up to 11.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Institutional Trading of eGain

Several hedge funds have recently made changes to their positions in EGAN. Jefferies Financial Group Inc. purchased a new stake in shares of eGain in the 1st quarter valued at approximately $83,000. Bank of America Corp DE lifted its holdings in shares of eGain by 8.9% in the 4th quarter. Bank of America Corp DE now owns 30,886 shares of the technology company's stock worth $192,000 after acquiring an additional 2,525 shares during the last quarter. Ritholtz Wealth Management acquired a new position in shares of eGain in the 2nd quarter worth approximately $194,000. Assenagon Asset Management S.A. lifted its holdings in shares of eGain by 6.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 42,630 shares of the technology company's stock worth $207,000 after acquiring an additional 2,446 shares during the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of eGain by 53.7% in the 1st quarter. Jane Street Group LLC now owns 47,726 shares of the technology company's stock worth $231,000 after acquiring an additional 16,678 shares during the last quarter. Hedge funds and other institutional investors own 53.94% of the company's stock.

eGain Company Profile

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.

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