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

E2open Parent (NYSE:ETWO) was downgraded by equities researchers at The Goldman Sachs Group from a “neutral” rating to a “sell” rating in a research report issued to clients and investors on Wednesday,Finviz 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 objective would suggest a potential downside of 7.20% from the stock’s previous close.

E2open Parent Price Performance

ETWO stock opened at $3.13 on Wednesday. The firm has a market cap of $1.07 billion, a P/E ratio of -1.22, a P/E/G ratio of 1.22 and a beta of 0.98. The firm’s fifty day moving average is $3.22 and its 200 day moving average is $3.99. E2open Parent has a 52 week low of $2.89 and a 52 week high of $5.07. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.03 and a current ratio of 1.03.

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

Institutional Trading of E2open Parent

Several hedge funds and other institutional investors have recently bought and sold shares of ETWO. Innealta Capital LLC bought a new position in shares of E2open Parent during the second quarter valued at about $34,000. nVerses Capital LLC purchased a new position in E2open Parent during the 2nd quarter valued at about $48,000. Canada Pension Plan Investment Board bought a new position in E2open Parent during the 2nd quarter valued at approximately $50,000. MQS Management LLC purchased a new stake in E2open Parent in the 3rd quarter worth approximately $57,000. Finally, Dark Forest Capital Management LP bought a new stake in shares of E2open Parent in the 2nd quarter worth approximately $98,000.

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.