E2open Parent (NYSE:ETWO) Downgraded by The Goldman Sachs Group to “Sell”

E2open Parent (NYSE:ETWO) was downgraded by investment analysts at The Goldman Sachs Group from a “neutral” rating to a “sell” rating in a report released on Wednesday, Marketbeat.com reports. They currently have a $2.90 price target on the stock, down from their prior price target of $3.50. The Goldman Sachs Group’s price target indicates a potential downside of 3.49% from the company’s previous close.

E2open Parent Trading Down 0.8 %

NYSE ETWO opened at $3.01 on Wednesday. The company has a 50-day moving average of $3.18 and a 200-day moving average of $3.98. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.03 and a quick ratio of 1.03. E2open Parent has a 12 month low of $2.80 and a 12 month high of $5.07. The company has a market cap of $1.03 billion, a P/E ratio of -1.17, a P/E/G ratio of 1.22 and a beta of 0.98.

E2open Parent (NYSE:ETWO) last posted its quarterly earnings results on Wednesday, October 9th. The company reported $0.05 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.05. The company had revenue of $152.19 million for the quarter, compared to the consensus estimate of $152.33 million. E2open Parent had a negative net margin of 125.70% and a positive return on equity of 3.92%. As a group, equities analysts predict that E2open Parent will post 0.19 earnings per share for the current year.

Hedge Funds Weigh In On E2open Parent

A number of large investors have recently bought and sold shares of ETWO. Price T Rowe Associates Inc. MD raised its stake in E2open Parent by 17.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 48,845 shares of the company’s stock worth $217,000 after purchasing an additional 7,399 shares during the period. California State Teachers Retirement System increased its position in shares of E2open Parent by 3.5% in the first quarter. California State Teachers Retirement System now owns 168,604 shares of the company’s stock worth $749,000 after acquiring an additional 5,640 shares in the last quarter. Crescent Grove Advisors LLC acquired a new stake in shares of E2open Parent in the second quarter worth $1,081,000. Bank of New York Mellon Corp increased its position in shares of E2open Parent by 7.4% in the second quarter. Bank of New York Mellon Corp now owns 798,741 shares of the company’s stock worth $3,586,000 after acquiring an additional 55,315 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of E2open Parent by 15.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 43,248 shares of the company’s stock worth $194,000 after acquiring an additional 5,854 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.