E2open Parent (NYSE:ETWO) Stock Rating Lowered by The Goldman Sachs Group

E2open Parent (NYSE:ETWO - Get Free Report) was downgraded by investment analysts at The Goldman Sachs Group from a "neutral" rating to a "sell" rating in a research note issued on Wednesday, MarketBeat reports. They currently have a $2.90 target price on the stock, down from their previous target price of $3.50. The Goldman Sachs Group's target price points to a potential downside of 4.29% from the stock's current price.

E2open Parent Trading Down 3.2 %

NYSE:ETWO traded down $0.10 during midday trading on Wednesday, hitting $3.03. 1,778,812 shares of the company traded hands, compared to its average volume of 1,962,424. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.67. The firm's fifty day moving average is $3.22 and its 200-day moving average is $3.99. The firm has a market capitalization of $1.04 billion, a P/E ratio of -1.22, a P/E/G ratio of 1.22 and a beta of 0.98. E2open Parent has a 12-month low of $2.80 and a 12-month high of $5.07.

E2open Parent (NYSE:ETWO - Get Free Report) last released its earnings results on Wednesday, October 9th. The company reported $0.05 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.05. The firm had revenue of $152.19 million during the quarter, compared to analyst estimates of $152.33 million. E2open Parent had a negative net margin of 125.70% and a positive return on equity of 3.92%. On average, sell-side analysts predict that E2open Parent will post 0.19 EPS for the current year.

Hedge Funds Weigh In On E2open Parent

A number of large investors have recently bought and sold shares of ETWO. Bank of Montreal Can purchased a new position in shares of E2open Parent during the second quarter valued at $31,460,000. Dimensional Fund Advisors LP raised its holdings in shares of E2open Parent by 23.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,801,601 shares of the company's stock valued at $30,537,000 after purchasing an additional 1,272,370 shares in the last quarter. State Street Corp lifted its position in shares of E2open Parent by 5.1% in the 3rd quarter. State Street Corp now owns 4,837,532 shares of the company's stock worth $21,334,000 after purchasing an additional 233,292 shares during the period. Geode Capital Management LLC boosted its stake in shares of E2open Parent by 19.1% during the third quarter. Geode Capital Management LLC now owns 4,736,328 shares of the company's stock valued at $20,892,000 after purchasing an additional 759,398 shares in the last quarter. Finally, Sea Cliff Partners Management LP increased its holdings in E2open Parent by 14.1% during the second quarter. Sea Cliff Partners Management LP now owns 4,309,717 shares of the company's stock valued at $19,351,000 after buying an additional 531,493 shares during the period.

E2open Parent Company Profile

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.