E2open Parent (NYSE:ETWO) Trading Down 7.7% After Analyst Downgrade

E2open Parent Holdings, Inc. (NYSE:ETWO)’s stock price dropped 7.7% on Monday 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 $1.98 and last traded at $1.98. Approximately 61,715 shares traded hands during mid-day trading, a decline of 96% from the average daily volume of 1,729,102 shares. The stock had previously closed at $2.14.

A number of other research firms have also recently issued reports on ETWO. Morgan Stanley lowered their price objective on 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. Loop Capital lowered their price target on shares of E2open Parent from $4.00 to $3.00 and set a “hold” rating for the company in a research report on Monday, December 23rd.

Institutional Trading of E2open Parent

Several hedge funds have recently added to or reduced their stakes in ETWO. Mackenzie Financial Corp raised its position in E2open Parent by 2,494.1% during the fourth quarter. Mackenzie Financial Corp now owns 282,552 shares of the company’s stock valued at $752,000 after purchasing an additional 271,660 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in E2open Parent in the fourth quarter worth approximately $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 bought a new stake in E2open Parent during the 4th quarter valued at $38,000. Finally, ProShare Advisors LLC raised 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 worth $153,000 after acquiring an additional 18,962 shares during the last quarter.

E2open Parent Stock Down 6.3 %

The company has a debt-to-equity ratio of 0.91, a current ratio of 1.08 and a quick ratio of 1.08. The company has a market cap of $688.19 million, a P/E ratio of -1.35, a price-to-earnings-growth ratio of 1.05 and a beta of 1.02. The stock has a fifty day moving average price of $2.45 and a two-hundred day moving average price of $2.95.

E2open Parent (NYSE:ETWO) last issued its quarterly earnings results on Friday, January 10th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. On average, research analysts expect that E2open Parent Holdings, Inc. will post 0.19 EPS for the current year.

E2open Parent Company Profile

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.