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

E2open Parent Holdings, Inc. (NYSE:ETWO) fell 7.7% 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. 61,715 shares were traded during trading, a decline of 96% from the average session volume of 1,729,102 shares. The stock had previously closed at $2.14.

A number of other equities research analysts also recently weighed in on the company. Loop Capital dropped their target price on E2open Parent from $4.00 to $3.00 and set a “hold” rating for the company in a report on Monday, December 23rd. Morgan Stanley dropped their price objective on shares of E2open Parent from $4.00 to $3.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th.

Institutional Inflows and Outflows

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

E2open Parent Stock Down 7.7 %

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 stock’s 50-day simple moving average is $2.46 and its 200 day simple moving average is $2.97. The firm 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.

E2open Parent (NYSE:ETWO) last announced 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 74.63% and a positive return on equity of 4.38%. As a group, research analysts forecast that E2open Parent Holdings, Inc. will post 0.19 EPS 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.