eGain (NASDAQ:EGAN) Releases FY 2023 Earnings Guidance

eGain (NASDAQ:EGANGet Rating) issued an update on its FY 2023 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.12-$0.15 for the period, compared to the consensus 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 Price Performance

Shares of NASDAQ:EGAN opened at $7.53 on Thursday. eGain has a 12 month low of $7.36 and a 12 month high of $13.70. The stock’s 50 day moving average price is $9.05 and its 200 day moving average price is $9.90.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on EGAN shares. 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 report on Friday, September 9th. StockNews.com upgraded eGain from a buy rating to a strong-buy rating in a report on Thursday.

Institutional Trading of eGain

A number of institutional investors have recently bought and sold shares of the company. Prudential Financial Inc. grew its position in eGain by 181.9% in the first quarter. Prudential Financial Inc. now owns 130,334 shares of the technology company’s stock worth $1,509,000 after acquiring an additional 84,100 shares in the last quarter. Sei Investments Co. boosted its holdings in eGain by 69.3% in the first quarter. Sei Investments Co. now owns 137,595 shares of the technology company’s stock worth $1,598,000 after purchasing an additional 56,327 shares in the last quarter. Renaissance Technologies LLC increased its position in eGain by 4.4% during the first quarter. Renaissance Technologies LLC now owns 790,493 shares of the technology company’s stock worth $9,154,000 after buying an additional 33,666 shares during the last quarter. Meros Investment Management LP raised its holdings in eGain by 7.6% during the first quarter. Meros Investment Management LP now owns 353,040 shares of the technology company’s stock valued at $4,088,000 after buying an additional 24,820 shares in the last quarter. Finally, Woodline Partners LP acquired a new stake in shares of eGain in the second quarter worth about $237,000. Institutional investors and hedge funds own 55.42% of the company’s stock.

eGain Company Profile

(Get Rating)

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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