eGain (NASDAQ:EGAN) Board Approves Stock Repurchase Plan

eGain (NASDAQ:EGAN) declared that its board has initiated a stock repurchase program on Thursday, September 4th, RTT News reports. The company plans to buyback $20.00 million in shares. This buyback authorization permits the technology company to reacquire up to 11.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

eGain Trading Up 5.3%

Shares of EGAN stock opened at $6.50 on Friday. The firm has a 50-day moving average price of $6.32 and a 200 day moving average price of $5.58. eGain has a twelve month low of $4.34 and a twelve month high of $7.33. The company has a market capitalization of $177.78 million, a price-to-earnings ratio of 5.65 and a beta of 0.30.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded eGain from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, eGain has an average rating of “Buy” and a consensus target price of $10.00.

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.