eGain (NASDAQ:EGAN – Get Rating) issued an update on its FY 2023 earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.12-$0.15 for the period, compared to the consensus earnings per share estimate of $0.18. The company issued revenue guidance of $101.00 million-$103.00 million, compared to the consensus revenue estimate of $107.19 million. eGain also updated its Q1 2023 guidance to $0.01-$0.01 EPS.
eGain Trading Down 2.3 %
Shares of EGAN traded down $0.17 during trading hours on Friday, reaching $7.31. 78,804 shares of the stock traded hands, compared to its average volume of 112,331. eGain has a 52-week low of $7.28 and a 52-week high of $13.70. The company's 50-day moving average price is $8.95 and its two-hundred day moving average price is $9.84. The company has a market cap of $233.41 million, a P/E ratio of -91.38 and a beta of 0.31.
Get eGain alerts:Analysts Set New Price Targets
A number of research analysts recently weighed in on EGAN shares. StockNews.com upgraded shares of eGain from a buy rating to a strong-buy rating in a research note on Thursday. TheStreet cut shares of eGain from a c rating to a d+ rating in a research note on Wednesday. Finally, Craig Hallum decreased their price target on shares of eGain from $18.00 to $14.00 and set a buy rating on the stock in a research note on Friday, September 9th.
Institutional Trading of eGain
Several hedge funds have recently bought and sold shares of the stock. Woodline Partners LP purchased a new stake in eGain in the 2nd quarter worth $237,000. Prudential Financial Inc. raised its position in shares of eGain by 5.1% during the 2nd quarter. Prudential Financial Inc. now owns 137,024 shares of the technology company's stock valued at $1,336,000 after buying an additional 6,690 shares in the last quarter. State Street Corp raised its position in shares of eGain by 2.9% during the 2nd quarter. State Street Corp now owns 397,671 shares of the technology company's stock valued at $3,877,000 after buying an additional 11,099 shares in the last quarter. Sei Investments Co. raised its position in shares of eGain by 11.0% during the 2nd quarter. Sei Investments Co. now owns 152,763 shares of the technology company's stock valued at $1,486,000 after buying an additional 15,168 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of eGain by 0.9% during the 2nd quarter. Renaissance Technologies LLC now owns 797,419 shares of the technology company's stock valued at $7,775,000 after buying an additional 6,926 shares in the last quarter. Hedge funds and other institutional investors own 55.42% of the company's stock.About eGain
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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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