E2open Parent (NYSE:ETWO) Shares Gap Up - Still a Buy?

Shares of E2open Parent Holdings, Inc. (NYSE:ETWO - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $2.57, but opened at $3.27. E2open Parent shares last traded at $3.24, with a volume of 37,562,127 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ETWO shares. Morgan Stanley increased their price target on E2open Parent from $2.10 to $3.30 and gave the stock an "equal weight" rating in a research note on Wednesday. UBS Group lowered their price target on shares of E2open Parent from $3.00 to $2.50 and set a "neutral" rating for the company in a report on Wednesday, April 30th. The Goldman Sachs Group lowered their price target on shares of E2open Parent from $2.60 to $2.30 and set a "sell" rating for the company in a report on Friday, March 28th. Finally, Wall Street Zen raised shares of E2open Parent from a "hold" rating to a "buy" rating in a report on Friday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $2.78.

E2open Parent Trading Up 0.3%

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 firm has a market cap of $1.10 billion, a P/E ratio of -2.15, a P/E/G ratio of 1.05 and a beta of 1.04. The company's 50 day simple moving average is $2.31 and its 200-day simple moving average is $2.55.

E2open Parent (NYSE:ETWO - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $153.50 million during the quarter, compared to the consensus estimate of $153.01 million. E2open Parent had a negative net margin of 74.63% and a positive return on equity of 4.38%. As a group, research analysts predict that E2open Parent Holdings, Inc. will post 0.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Neuberger Berman Group Llc sold 30,607,831 shares of E2open Parent stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $3.21, for a total transaction of $98,251,137.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.70% of the stock is owned by insiders.

Institutional Trading of E2open Parent

Several institutional investors and hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of E2open Parent by 4.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 117,053 shares of the company's stock valued at $311,000 after acquiring an additional 5,051 shares in the last quarter. MetLife Investment Management LLC raised its stake in shares of E2open Parent by 5.0% during the first quarter. MetLife Investment Management LLC now owns 123,415 shares of the company's stock valued at $247,000 after acquiring an additional 5,861 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of E2open Parent by 15.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 77,907 shares of the company's stock valued at $208,000 after acquiring an additional 10,321 shares in the last quarter. Bayesian Capital Management LP purchased a new position in E2open Parent during the fourth quarter valued at approximately $35,000. Finally, SG Americas Securities LLC increased its holdings in E2open Parent by 18.8% during the fourth quarter. SG Americas Securities LLC now owns 85,205 shares of the company's stock valued at $227,000 after buying an additional 13,489 shares during the period.

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.