eGain (NASDAQ:EGAN – Get Rating) issued an update on its first quarter 2023 earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.01-$0.01 for the period, compared to the consensus earnings per share estimate of -$0.01. The company issued revenue guidance of $24.00 million-$24.50 million, compared to the consensus revenue estimate of $24.97 million. eGain also updated its FY 2023 guidance to $0.12-$0.15 EPS.
eGain Price Performance
Shares of NASDAQ EGAN opened at $7.42 on Friday. eGain has a fifty-two week low of $7.27 and a fifty-two week high of $13.70. The stock's 50-day simple moving average is $8.74 and its 200-day simple moving average is $9.72.
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Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on the company. TheStreet cut eGain from a c rating to a d+ rating in a research note on Wednesday, September 21st. StockNews.com cut eGain from a strong-buy rating to a buy rating in a research note on Friday. Finally, Craig Hallum reduced their price objective on eGain from $18.00 to $14.00 and set a buy rating for the company in a research note on Friday, September 9th.
Institutional Investors Weigh In On eGain
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA raised its stake in shares of eGain by 81.0% during the second quarter. BNP Paribas Arbitrage SA now owns 4,813 shares of the technology company's stock worth $47,000 after purchasing an additional 2,154 shares during the last quarter. Lazard Asset Management LLC raised its stake in shares of eGain by 17.9% during the first quarter. Lazard Asset Management LLC now owns 7,705 shares of the technology company's stock worth $89,000 after purchasing an additional 1,168 shares during the last quarter. MetLife Investment Management LLC purchased a new stake in shares of eGain during the first quarter worth approximately $132,000. Jane Street Group LLC purchased a new stake in shares of eGain during the first quarter worth approximately $224,000. Finally, Woodline Partners LP purchased a new stake in shares of eGain during the second quarter worth approximately $237,000. Hedge funds and other institutional investors own 55.42% of the company's stock.
eGain Company Profile
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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 unified Knowledge Hub solutions to automate, augment, and orchestrate customer engagement. The company also offers subscription services that provides customers with access to its software on a cloud-based platform; and professional services, such as consulting and implementation, training, and managed services.
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