E2open Parent (NYSE:ETWO) Trading Up 3.5% - Time to Buy?

Shares of E2open Parent Holdings, Inc. (NYSE:ETWO - Get Free Report) shot up 3.5% during trading on Tuesday . The stock traded as high as $2.69 and last traded at $2.67. 204,596 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 1,917,199 shares. The stock had previously closed at $2.58.

Analyst Ratings Changes

A number of analysts have recently weighed in on ETWO shares. The Goldman Sachs Group lowered E2open Parent from a "neutral" rating to a "sell" rating and cut their price objective for the stock from $3.50 to $2.90 in a research report on Wednesday, December 11th. Loop Capital cut their price target on E2open Parent from $4.00 to $3.00 and set a "hold" rating on the stock in a report on Monday, December 23rd.

E2open Parent Stock Up 3.1 %

The firm's fifty day simple moving average is $3.01 and its 200 day simple moving average is $3.81. 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 company has a market cap of $911.50 million, a price-to-earnings ratio of -1.04, a PEG ratio of 1.16 and a beta of 0.98.

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

Hedge Funds Weigh In On E2open Parent

Several hedge funds have recently added to or reduced their stakes in ETWO. JPMorgan Chase & Co. boosted its stake in E2open Parent by 593.3% in the third quarter. JPMorgan Chase & Co. now owns 1,960,030 shares of the company's stock valued at $8,644,000 after acquiring an additional 1,677,336 shares in the last quarter. Franklin Resources Inc. purchased a new stake in shares of E2open Parent in the 3rd quarter valued at about $504,000. Barclays PLC boosted its position in shares of E2open Parent by 384.4% in the 3rd quarter. Barclays PLC now owns 303,515 shares of the company's stock valued at $1,338,000 after purchasing an additional 240,858 shares during the period. Geode Capital Management LLC grew its stake in E2open Parent by 19.1% during the 3rd quarter. Geode Capital Management LLC now owns 4,736,328 shares of the company's stock worth $20,892,000 after buying an additional 759,398 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in E2open Parent during the third quarter worth approximately $508,000.

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.