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

E2open Parent Holdings, Inc. (NYSE:ETWO) shares gapped up before the market opened on Friday . The stock had previously closed at $2.69, but opened at $2.77. E2open Parent shares last traded at $2.78, with a volume of 243,836 shares changing hands.

Wall Street Analysts Forecast Growth

ETWO has been the subject of several research reports. UBS Group decreased their price objective 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. Morgan Stanley decreased their price target on shares of E2open Parent from $3.00 to $2.30 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Finally, The Goldman Sachs Group cut 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.

E2open Parent Stock Up 3.2%

The company has a market cap of $954.56 million, a PE ratio of -1.86, a P/E/G ratio of 1.05 and a beta of 1.04. The company’s 50 day moving average is $2.19 and its 200 day moving average is $2.57. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.91.

E2open Parent (NYSE:ETWO) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.05 by $0.01. The company had revenue of $153.50 million for 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, analysts predict that E2open Parent Holdings, Inc. will post 0.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ETWO. Franklin Resources Inc. bought a new position in E2open Parent during the 3rd quarter worth about $504,000. SG Americas Securities LLC grew its holdings in E2open Parent by 18.8% during the 4th quarter. SG Americas Securities LLC now owns 85,205 shares of the company’s stock worth $227,000 after acquiring an additional 13,489 shares in the last quarter. Gagnon Securities LLC grew its holdings in E2open Parent by 37.6% during the 4th quarter. Gagnon Securities LLC now owns 2,182,893 shares of the company’s stock worth $5,806,000 after acquiring an additional 596,425 shares in the last quarter. Gagnon Advisors LLC grew its holdings in E2open Parent by 50.0% during the 4th quarter. Gagnon Advisors LLC now owns 1,171,117 shares of the company’s stock worth $3,115,000 after acquiring an additional 390,372 shares in the last quarter. Finally, Empowered Funds LLC grew its holdings in E2open Parent by 5.1% during the 4th quarter. Empowered Funds LLC now owns 1,070,416 shares of the company’s stock worth $2,847,000 after acquiring an additional 52,411 shares in the last quarter.

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.