E2open Parent (NYSE:ETWO) Cut to "Hold" at Wall Street Zen

Wall Street Zen cut shares of E2open Parent (NYSE:ETWO - Free Report) from a buy rating to a hold rating in a research report released on Thursday morning.

Other analysts also recently issued research reports about the stock. The Goldman Sachs Group reduced their price target on shares of E2open Parent from $2.60 to $2.30 and set a "sell" rating on the stock in a report on Friday, March 28th. UBS Group reduced their target price on shares of E2open Parent from $3.00 to $2.50 and set a "neutral" rating on the stock in a research report on Wednesday, April 30th. Finally, Morgan Stanley dropped their price target on shares of E2open Parent from $3.00 to $2.30 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $2.53.

E2open Parent Stock Performance

ETWO traded up $0.65 on Thursday, reaching $3.22. The company had a trading volume of 144,621,318 shares, compared to its average volume of 2,825,213. The stock has a 50-day moving average price of $2.24 and a 200-day moving average price of $2.54. The stock has a market capitalization of $1.11 billion, a PE ratio of -2.16, a P/E/G ratio of 1.05 and a beta of 1.04. 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 has a 1 year low of $1.75 and a 1 year high of $4.92.

E2open Parent (NYSE:ETWO - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.01. E2open Parent had a positive return on equity of 4.38% and a negative net margin of 74.63%. The company had revenue of $153.50 million for the quarter, compared to analysts' expectations of $153.01 million. As a group, research analysts forecast that E2open Parent will post 0.19 EPS for the current fiscal year.

Institutional Trading of E2open Parent

A number of hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers raised its stake in shares of E2open Parent by 7.6% in the 4th quarter. Rhumbline Advisers now owns 310,057 shares of the company's stock valued at $825,000 after acquiring an additional 21,800 shares in the last quarter. Vanguard Group Inc. raised its stake in E2open Parent by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 27,397,737 shares of the company's stock worth $72,878,000 after acquiring an additional 408,779 shares in the last quarter. Gagnon Advisors LLC increased its holdings in shares of E2open Parent by 50.0% during the fourth quarter. Gagnon Advisors LLC now owns 1,171,117 shares of the company's stock worth $3,115,000 after buying an additional 390,372 shares in the last quarter. Renaissance Technologies LLC boosted its stake in E2open Parent by 37.2% in the fourth quarter. Renaissance Technologies LLC now owns 102,600 shares of the company's stock worth $273,000 after purchasing an additional 27,800 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of E2open Parent during the fourth quarter worth approximately $6,151,000.

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.