eGain (NASDAQ:EGAN) Downgraded by Wall Street Zen to Hold

Key Points

• eGain (NASDAQ:EGAN) has been downgraded from a "buy" to a "hold" rating by research analysts at Wall Street Zen.
• The company's stock is currently trading at $5.82, with a 12-month range from $4.34 to $7.62.
• eGain reported earnings of $0.03 per share for the last quarter, exceeding the consensus estimate of $0.01, with total revenue of $21.01 million.

eGain (NASDAQ:EGAN - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Saturday.

eGain Stock Up 5.2%

EGAN traded up $0.32 during trading on Friday, hitting $6.35. The company's stock had a trading volume of 23,573 shares, compared to its average volume of 63,961. The firm's 50 day moving average price is $6.25 and its two-hundred day moving average price is $5.59. eGain has a 12 month low of $4.34 and a 12 month high of $7.62. The stock has a market capitalization of $173.54 million, a price-to-earnings ratio of 70.50 and a beta of 0.45.

eGain (NASDAQ:EGAN - Get Free Report) last released its earnings results on Wednesday, May 14th. The technology company reported $0.03 earnings per share for the quarter, topping analysts' consensus estimates of $0.01 by $0.02. The company 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 5.24% and a net margin of 3.30%. On average, sell-side analysts forecast that eGain will post 0.05 earnings per share for the current year.

Institutional Investors Weigh In On eGain

Institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its stake in eGain by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 690,317 shares of the technology company's stock valued at $4,300,000 after acquiring an additional 1,820 shares during the period. Wells Fargo & Company MN grew its holdings in shares of 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 in the last quarter. Assenagon Asset Management S.A. raised its holdings in eGain by 6.1% during the first 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 in the last quarter. Bank of America Corp DE raised its holdings in eGain by 8.9% during the fourth 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 in the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in eGain by 0.7% during the 1st quarter. Acadian Asset Management LLC now owns 980,840 shares of the technology company's stock valued at $4,753,000 after purchasing an additional 6,429 shares during the last quarter. 53.94% of the stock is owned by institutional investors and hedge funds.

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.