eGain price target lowered to $12 from $15 at Roth MKM

Roth MKM lowered the firm’s price target on eGain to $12 from $15 but keeps a Buy rating on the shares. The company’s Q2 results were fair with revenues narrowly above the firm’s forecast and earnings well above, but two large customer losses are poised to materially dampen near-term revenues and earnings for eGain, the analyst tells investors in a research note. The firm adds however that as a partial offset, it appears eGain’s AI-driven knowledge management offerings are beginning to gain traction, which could spark a rapid growth rebound.