E2open Parent (NYSE:ETWO) Stock Price Down 7.7% on Analyst Downgrade

Shares of E2open Parent Holdings, Inc. (NYSE:ETWO) were down 7.7% during trading 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 were traded 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 also recently weighed in on ETWO. Loop Capital decreased their price objective on E2open Parent from $4.00 to $3.00 and set a “hold” rating on the stock in a report on Monday, December 23rd. Morgan Stanley lowered their price target 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.

Institutional Trading of E2open Parent

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Intech Investment Management LLC acquired a new position in E2open Parent in the third quarter valued at about $223,000. Charles Schwab Investment Management Inc. boosted its position in E2open Parent by 25.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,737,055 shares of the company’s stock worth $7,660,000 after acquiring an additional 349,951 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of E2open Parent by 8.9% in the third quarter. The Manufacturers Life Insurance Company now owns 109,321 shares of the company’s stock worth $482,000 after purchasing an additional 8,940 shares in the last quarter. MetLife Investment Management LLC grew its position in E2open Parent by 21.2% in the third quarter. MetLife Investment Management LLC now owns 118,064 shares of the company’s stock valued at $521,000 after purchasing an additional 20,667 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new stake in E2open Parent during the 3rd quarter worth about $6,360,000.

E2open Parent Trading Down 7.7 %

The business has a 50 day moving average price of $2.46 and a 200-day moving average price of $2.97. The company has a market cap of $677.90 million, a P/E ratio of -1.34, a PEG ratio of 1.05 and a beta of 1.02. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.91.

E2open Parent (NYSE:ETWO) last issued its 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 negative net margin of 74.63% and a positive return on equity of 4.38%. 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.