E2open Parent (NYSE:ETWO) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research cut shares of E2open Parent (NYSE:ETWOGet Rating) from a buy rating to a sell rating in a report released on Monday, Zacks.com reports.

According to Zacks, “E2open Parent Holdings Inc. is a provider of supply chain management software. The Company’s software combines networks, data and applications to provide platform which allows customers to optimize their supply chain across channel shaping, business planning, logistics, global trade, manufacturing and supply management. E2open Parent Holdings Inc., formerly known as CC Neuberger Principal Holdings I, is based in AUSTIN, Texas. “

ETWO has been the topic of a number of other research reports. Craig Hallum began coverage on E2open Parent in a research report on Tuesday, January 25th. They issued a buy rating and a $14.00 price target on the stock. Loop Capital reduced their price target on E2open Parent from $16.00 to $12.00 in a research report on Thursday, April 28th. Colliers Securities upgraded E2open Parent from a neutral rating to a buy rating and set a $13.00 price target on the stock in a research report on Wednesday, March 23rd. Finally, Bank of America upgraded E2open Parent from a neutral rating to a buy rating in a research report on Thursday, April 21st.

Shares of ETWO stock opened at $8.18 on Monday. The company has a market cap of $2.47 billion, a price-to-earnings ratio of -9.40 and a beta of 0.86. E2open Parent has a twelve month low of $7.16 and a twelve month high of $14.58. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.69 and a quick ratio of 0.69. The stock’s fifty day moving average price is $8.55.

Several institutional investors have recently made changes to their positions in the stock. Pearl River Capital LLC boosted its position in shares of E2open Parent by 2.3% during the 3rd quarter. Pearl River Capital LLC now owns 49,980 shares of the company’s stock valued at $565,000 after purchasing an additional 1,102 shares in the last quarter. Bourgeon Capital Management LLC boosted its position in shares of E2open Parent by 2.2% during the 3rd quarter. Bourgeon Capital Management LLC now owns 77,675 shares of the company’s stock valued at $878,000 after purchasing an additional 1,675 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of E2open Parent by 12.5% during the 1st quarter. SG Americas Securities LLC now owns 15,864 shares of the company’s stock valued at $140,000 after purchasing an additional 1,765 shares in the last quarter. Dark Forest Capital Management LP bought a new stake in shares of E2open Parent during the 3rd quarter valued at about $26,000. Finally, Nisa Investment Advisors LLC bought a new stake in shares of E2open Parent during the 1st quarter valued at about $28,000. Institutional investors own 98.09% of the company’s stock.

E2open Parent Company Profile (Get Rating)

E2open Parent Holdings, Inc provides cloud-based and end-to-end supply chain management SaaS platform in the Americas, Europe, and the Asia Pacific. The company's software solutions orchestrate supply chains and realize value and return on investment for its blue-chip customers. Its software combines networks, data, and applications to provide a platform that allows customers to optimize their supply chain across channel shaping, demand sensing, business planning, global trade management, transportation and logistics, collaborative manufacturing, and supply management.

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