Stocks: eGain Corp (EGAN) Downgraded to “Hold” at Zacks Investment Research

Stocks: eGain Corp (EGAN) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of eGain Corp (NASDAQ:EGAN) from a buy rating to a hold rating in a report released on Thursday morning.

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. “

Separately, Benchmark Co. restated a hold rating and issued a $2.50 price objective (down from $3.50) on shares of eGain Corp in a research note on Monday, February 13th.

eGain Corp (NASDAQ:EGAN) traded down 5.88% during trading on Thursday, hitting $1.60. 22,739 shares of the company’s stock traded hands. The company’s 50 day moving average price is $1.55 and its 200 day moving average price is $2.04. eGain Corp has a 52-week low of $1.30 and a 52-week high of $3.68. The company’s market cap is $43.37 million.

eGain Corp (NASDAQ:EGAN) last announced its quarterly earnings data on Wednesday, May 10th. The technology company reported ($0.09) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.05) by $0.04. The company had revenue of $13.90 million during the quarter, compared to analyst estimates of $14.04 million. During the same quarter in the prior year, the company earned ($0.11) EPS. The business’s revenue for the quarter was down 14.7% compared to the same quarter last year. Analysts expect that eGain Corp will post ($0.27) earnings per share for the current year.

A hedge fund recently raised its stake in eGain Corp stock. Renaissance Technologies LLC boosted its position in shares of eGain Corp (NASDAQ:EGAN) by 37.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 97,400 shares of the technology company’s stock after buying an additional 26,400 shares during the period. Renaissance Technologies LLC owned about 0.36% of eGain Corp worth $205,000 as of its most recent filing with the SEC. 54.00% of the stock is currently owned by institutional investors and hedge funds.

About eGain Corp

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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