E2open Parent (NYSE:ETWO) Shares Gap Down Following Weak Earnings

E2open Parent Holdings, Inc. (NYSE:ETWO) shares gapped down prior to trading on Thursday following a dissappointing earnings announcement. The stock had previously closed at $4.45, but opened at $3.86. E2open Parent shares last traded at $3.88, with a volume of 525,981 shares.

The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.01). The company had revenue of $151.16 million for the quarter, compared to analysts’ expectations of $155.48 million. E2open Parent had a negative net margin of 125.24% and a positive return on equity of 3.36%. During the same quarter in the prior year, the business posted $0.05 earnings per share.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ETWO. The Goldman Sachs Group cut their price objective on shares of E2open Parent from $4.50 to $4.00 and set a “neutral” rating for the company in a report on Thursday. UBS Group cut their price target on E2open Parent from $4.50 to $4.20 and set a “neutral” rating for the company in a research note on Thursday.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ETWO. California State Teachers Retirement System lifted its holdings in E2open Parent by 3.5% in the 1st quarter. California State Teachers Retirement System now owns 168,604 shares of the company’s stock valued at $749,000 after purchasing an additional 5,640 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of E2open Parent by 17.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 48,845 shares of the company’s stock worth $217,000 after buying an additional 7,399 shares in the last quarter. Lazard Asset Management LLC acquired a new position in E2open Parent during the first quarter worth about $103,000. EntryPoint Capital LLC purchased a new stake in E2open Parent during the 1st quarter valued at about $30,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in E2open Parent in the 1st quarter valued at about $7,045,000.

E2open Parent Price Performance

The firm has a market capitalization of $1.48 billion, a PE ratio of -1.68, a price-to-earnings-growth ratio of 1.40 and a beta of 0.92. The stock’s 50 day simple moving average is $4.63 and its two-hundred day simple moving average is $4.30. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.00 and a current ratio of 1.00.

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.