eGain Corp (EGAN) PT Lifted to $14 at Needham & Company

August 29, 2013 8:02 AM EDT
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Price: $2.15 +2.38%

Rating Summary:
    4 Buy, 2 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 11
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Needham & Company analyst Michael Huang reiterated a Buy and raised its price target on eGain Corporation (NASDAQ: EGAN) from $12 to $14 on solid Q4 results.

Huang comments, "Q4 was solid (especially given the macro challenges plaguing other tech companies), highlighted by notable license revenue outperformance, continued impressive cloud rev growth (up 73% y/y and up 8% q/q), significant GM expansion (benefited by notably improved PS margins) and earnings upside. While total bookings growth decelerated (up 10% y/y vs. up 25% y/y 3Q), we believe this reflects a tough comp (lack of megadeals) and not deterioration of demand trends or competitive positioning. We’re encouraged that new booking transaction volumes were up notably y/y across geographies and verticals, reflecting contribution from a broader array of sales reps."

The firm raised FY 2014 EPS from ($0.20) to ($0.02) and FY 2015 was maintained at ($0.03).

For an analyst ratings summary and ratings history on eGain Corporation click here. For more ratings news on eGain Corporation click here.

Shares of eGain Corporation closed at $10.82 yesterday.

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