E2open Parent (NYSE:ETWO) Shares Gap Up on Earnings Beat

E2open Parent Holdings, Inc. (NYSE:ETWO - Get Free Report) gapped up prior to trading on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $2.10, but opened at $2.27. E2open Parent shares last traded at $1.89, with a volume of 291,972 shares trading hands.

The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.05 by $0.01. E2open Parent had a negative net margin of 74.63% and a positive return on equity of 4.38%. The business had revenue of $153.50 million for the quarter, compared to analyst estimates of $153.01 million.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. The Goldman Sachs Group lowered their price objective on E2open Parent from $2.60 to $2.30 and set a "sell" rating on the stock in a research report on Friday, March 28th. Morgan Stanley reduced 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 report on Wednesday, April 16th.

Institutional Trading of E2open Parent

Several institutional investors have recently made changes to their positions in ETWO. JPMorgan Chase & Co. raised its position in shares of E2open Parent by 593.3% during the third quarter. JPMorgan Chase & Co. now owns 1,960,030 shares of the company's stock valued at $8,644,000 after buying an additional 1,677,336 shares during the last quarter. Rhumbline Advisers lifted its stake in E2open Parent by 7.6% in the 4th quarter. Rhumbline Advisers now owns 310,057 shares of the company's stock worth $825,000 after purchasing an additional 21,800 shares in the last quarter. Barclays PLC boosted its holdings in shares of E2open Parent by 384.4% during the 3rd quarter. Barclays PLC now owns 303,515 shares of the company's stock valued at $1,338,000 after purchasing an additional 240,858 shares during the last quarter. Vanguard Group Inc. grew its position in shares of E2open Parent by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 27,397,737 shares of the company's stock valued at $72,878,000 after purchasing an additional 408,779 shares in the last quarter. Finally, Gagnon Advisors LLC lifted its position in shares of E2open Parent by 50.0% in 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.

E2open Parent Stock Performance

The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.91. The business has a 50 day moving average of $2.13 and a 200 day moving average of $2.63. The company has a market capitalization of $619.54 million, a P/E ratio of -1.21, a price-to-earnings-growth ratio of 1.05 and a beta of 1.04.

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.

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