eGain: Plunges on downbeat second-quarter forecast

eGain

11/11/2020 13:10

** Shares of cloud service provider  EGAN.O  down 26.2% at
$12.50 premarket - on track for its worst day in over two years
    ** Co expects Q2 revenue between $18.1 mln and $18.7 mln,
below estimates of $19.3 mln, according to Refinitiv data
    ** Expects adj loss of 2 cents per basic share to adj profit
of 2 cents per diluted share; analysts expect Q2 profit of 6
cents/shr
    ** Roth Capital Partners says unusual attrition within two
large customers will create a $750,000 revenue headwind in Q2
    ** Q1 revenue of $19.06 mln edges past estimates of $19 mln
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    ** At least two brokerages cut PT on EGAN; median PT on
stock is $16 
    ** Current avg rating of 7 analysts covering stock is "buy"
    ** Stock has more than doubled in value this year

 (Reporting by Ayanti Bera in Bengaluru)
 ((Ayanti.Bera@thomsonreuters.com;))