eGain price target lowered to $10 from $12 at Roth MKM

Roth MKM lowered the firm’s price target on eGain (EGAN) to $10 from $12 and keeps a Buy rating on the shares. The company’s Q2 results were fair, with revenues closely matching the firm’s forecast and earnings ahead of a soft guide, the analyst tells investors in a research note. Roth adds however that while doubling its seven-figure deal pipeline in six months is good, slower sales cycles and falling professional services leave revenue and earnings forecasts falling.