Wall Street Zen Upgrades E2open Parent (NYSE:ETWO) to Buy

E2open Parent (NYSE:ETWO) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

Several other brokerages have also commented on ETWO. Morgan Stanley increased their price target on shares of E2open Parent from $2.10 to $3.30 and gave the stock an “equal weight” rating in a research note on Wednesday, May 28th. UBS Group reduced 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. Finally, The Goldman Sachs Group reduced 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. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $2.78.

E2open Parent Trading Down 0.2%

E2open Parent stock opened at $3.23 on Friday. The firm has a 50 day simple moving average of $2.67 and a 200-day simple moving average of $2.57. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.14 and a quick ratio of 1.14. The stock has a market capitalization of $1.11 billion, a PE ratio of -1.51 and a beta of 1.27. E2open Parent has a 12-month low of $1.75 and a 12-month high of $4.82.

E2open Parent (NYSE:ETWO) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.01. E2open Parent had a negative net margin of 108.58% and a positive return on equity of 5.59%. The business had revenue of $153.50 million during the quarter, compared to analysts’ expectations of $153.01 million. As a group, equities research analysts expect that E2open Parent will post 0.19 EPS for the current fiscal year.

Insider Activity at E2open Parent

In other E2open Parent news, major shareholder Neuberger Berman Group Llc sold 30,607,831 shares of the firm’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $3.21, for a total value of $98,251,137.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On E2open Parent

Several institutional investors have recently modified their holdings of the business. Rhumbline Advisers boosted its holdings in shares of E2open Parent by 7.6% in the fourth quarter. Rhumbline Advisers now owns 310,057 shares of the company’s stock valued at $825,000 after buying an additional 21,800 shares during the period. BNP Paribas Financial Markets acquired a new position in shares of E2open Parent in the fourth quarter valued at approximately $319,000. Vanguard Group Inc. boosted its holdings in shares of E2open Parent by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 27,397,737 shares of the company’s stock valued at $72,878,000 after buying an additional 408,779 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of E2open Parent by 37.2% in the fourth quarter. Renaissance Technologies LLC now owns 102,600 shares of the company’s stock valued at $273,000 after buying an additional 27,800 shares during the period. Finally, Deutsche Bank AG boosted its holdings in shares of E2open Parent by 102.0% in the fourth quarter. Deutsche Bank AG now owns 222,189 shares of the company’s stock valued at $591,000 after buying an additional 112,189 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.