E2open Parent (NYSE:ETWO) Hits New 52-Week Low Following Analyst Downgrade

Shares of E2open Parent Holdings, Inc. (NYSE:ETWO) reached 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 changing hands. The stock had previously closed at $2.26.

Other analysts have also issued research reports about the stock. Loop Capital reduced their target price on shares of 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 decreased their price objective on shares of E2open Parent from $4.00 to $3.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th.

Institutional Investors Weigh In On E2open Parent

A number of hedge funds have recently made changes to their positions in ETWO. Norges Bank purchased a new stake in E2open Parent during the fourth quarter worth about $6,151,000. Nomura Holdings Inc. increased its stake in shares of E2open Parent by 15.7% during the 4th quarter. Nomura Holdings Inc. now owns 14,725,233 shares of the company’s stock worth $39,169,000 after purchasing an additional 1,994,267 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of E2open Parent by 593.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,960,030 shares of the company’s stock worth $8,644,000 after purchasing an additional 1,677,336 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in E2open Parent in the third quarter valued at approximately $6,360,000. Finally, Geode Capital Management LLC grew its holdings in E2open Parent by 19.1% during the third quarter. Geode Capital Management LLC now owns 4,736,328 shares of the company’s stock valued at $20,892,000 after purchasing an additional 759,398 shares during the period.

E2open Parent Stock Down 8.2 %

The firm has a market capitalization of $712.22 million, a PE ratio of -1.39, a P/E/G ratio of 1.05 and a beta of 1.02. The stock has a 50-day simple moving average of $2.47 and a 200-day simple moving average of $3.00. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.91.

E2open Parent (NYSE:ETWO) last announced its quarterly earnings data on Friday, January 10th. The company reported $0.05 earnings per share 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%. Analysts forecast that E2open Parent Holdings, Inc. will post 0.19 EPS for the current 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.