E2open Parent (NYSE:ETWO) Hits New 12-Month Low After Analyst Downgrade

E2open Parent Holdings, Inc. (NYSE:ETWO)’s stock price hit a new 52-week low on Friday after The Goldman Sachs Group lowered their price target on the stock from $2.60 to $2.30. The Goldman Sachs Group currently has a sell rating on the stock. E2open Parent traded as low as $2.05 and last traded at $2.09, with a volume of 319687 shares traded. The stock had previously closed at $2.26.

Several other brokerages also recently weighed in on ETWO. Loop Capital reduced their target price on E2open Parent from $4.00 to $3.00 and set a “hold” rating for the company in a research note on Monday, December 23rd. Morgan Stanley reduced their price target on shares of E2open Parent from $4.00 to $3.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th.

Institutional Investors Weigh In On E2open Parent

A number of institutional investors have recently added to or reduced their stakes in the business. Mackenzie Financial Corp grew its holdings in E2open Parent by 2,494.1% during the fourth quarter. Mackenzie Financial Corp now owns 282,552 shares of the company’s stock worth $752,000 after acquiring an additional 271,660 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in shares of E2open Parent during the 4th quarter worth $298,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of E2open Parent by 18.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 473,011 shares of the company’s stock worth $1,258,000 after purchasing an additional 72,032 shares in the last quarter. Tidal Investments LLC acquired a new position in shares of E2open Parent during the 4th quarter worth $38,000. Finally, ProShare Advisors LLC increased its holdings in shares of E2open Parent by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 57,629 shares of the company’s stock valued at $153,000 after purchasing an additional 18,962 shares in the last quarter.

E2open Parent Price Performance

The stock has a market cap of $732.81 million, a price-to-earnings ratio of -1.43, a PEG ratio of 1.05 and a beta of 1.02. The company’s 50 day moving average is $2.46 and its 200 day moving average is $2.99. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.08 and a quick ratio of 1.08.

E2open Parent (NYSE:ETWO) last released its quarterly earnings results on Friday, January 10th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). E2open Parent had a positive return on equity of 4.38% and a negative net margin of 74.63%. Research analysts forecast that E2open Parent Holdings, Inc. will post 0.19 earnings per share for the current fiscal year.

About E2open Parent

E2open Parent Holdings, Inc provides cloud-based and end-to-end supply chain management and orchestration SaaS platform in the Americas, Europe, and the Asia Pacific. Its SaaS platform includes various key strategic and operational areas, including omni-channel, demand sensing, supply planning, global trade management, transportation and logistics and manufacturing and supply management.