Morgan Stanley Issues Pessimistic Forecast for E2open Parent (NYSE:ETWO) Stock Price

E2open Parent (NYSE:ETWO) had its price objective dropped by equities researchers at Morgan Stanley from $4.00 to $3.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price target points to a potential upside of 19.05% from the company’s current price.

A number of other equities analysts have also commented on the stock. Loop Capital reduced their price target on shares of E2open Parent from $4.00 to $3.00 and set a “hold” rating on the stock in a research report on Monday, December 23rd. The Goldman Sachs Group cut E2open Parent from a “neutral” rating to a “sell” rating and dropped their price target for the company from $3.50 to $2.90 in a report on Wednesday, December 11th.

E2open Parent Stock Performance

Shares of ETWO stock traded down $0.02 during mid-day trading on Monday, reaching $2.52. The stock had a trading volume of 308,460 shares, compared to its average volume of 1,353,479. The firm has a market cap of $863.53 million, a PE ratio of -0.98, a P/E/G ratio of 1.16 and a beta of 1.00. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.67. The firm’s 50 day simple moving average is $2.96 and its 200 day simple moving average is $3.71. E2open Parent has a one year low of $2.50 and a one year high of $5.07.

E2open Parent (NYSE:ETWO) last released 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 negative net margin of 125.70% and a positive return on equity of 3.92%. On average, analysts forecast that E2open Parent will post 0.19 EPS for the current year.

Hedge Funds Weigh In On E2open Parent

Large investors have recently made changes to their positions in the company. Canada Pension Plan Investment Board bought a new stake in E2open Parent during the 2nd quarter worth about $50,000. MQS Management LLC bought a new position in E2open Parent in the third quarter valued at approximately $57,000. Dark Forest Capital Management LP acquired a new stake in E2open Parent during the 2nd quarter worth $98,000. US Bancorp DE lifted its stake in shares of E2open Parent by 2,028.3% in the 3rd quarter. US Bancorp DE now owns 37,267 shares of the company’s stock valued at $164,000 after purchasing an additional 35,516 shares during the period. Finally, Creative Planning boosted its position in shares of E2open Parent by 219.1% in the 3rd quarter. Creative Planning now owns 37,425 shares of the company’s stock worth $165,000 after purchasing an additional 25,698 shares during the last quarter.

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.