eGain (NASDAQ:EGAN) Stock Crosses Above 200-Day Moving Average – Here’s What Happened

eGain Corporation (NASDAQ:EGAN) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $6.08 and traded as high as $9.09. eGain shares last traded at $9.06, with a volume of 139,837 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of eGain from a “hold” rating to a “buy” rating in a report on Saturday, September 6th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, eGain presently has a consensus rating of “Buy” and a consensus target price of $10.00.

eGain Stock Performance

The business’s fifty day moving average price is $7.13 and its two-hundred day moving average price is $6.08. The stock has a market capitalization of $243.44 million, a P/E ratio of 7.88 and a beta of 0.40.

eGain declared that its board has approved a share repurchase program on Thursday, September 4th that permits the company to buyback $20.00 million in shares. This buyback authorization permits the technology company to purchase up to 11.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On eGain

Large investors have recently made changes to their positions in the company. Assenagon Asset Management S.A. boosted its stake in shares of eGain by 6.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 42,630 shares of the technology company’s stock worth $207,000 after purchasing an additional 2,446 shares during the period. Bank of America Corp DE boosted its stake in shares of eGain by 8.9% during the 4th quarter. Bank of America Corp DE now owns 30,886 shares of the technology company’s stock worth $192,000 after purchasing an additional 2,525 shares during the period. Nuveen LLC purchased a new position in shares of eGain during the 1st quarter worth about $296,000. Strs Ohio purchased a new position in shares of eGain during the 1st quarter worth about $250,000. Finally, Acadian Asset Management LLC boosted its stake in shares of eGain by 0.7% during the 1st quarter. Acadian Asset Management LLC now owns 980,840 shares of the technology company’s stock worth $4,753,000 after purchasing an additional 6,429 shares during the period. 53.94% of the stock is owned by hedge funds and other institutional investors.

About eGain

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.