Courtesy of Benzinga.
In a report published Thursday, Bank of America analyst Scott S. Shiao reiterated a Neutral rating on E2open Inc (NASDAQ: EOPN), but lowered the price target from $21.50 to $18.00.
In the report, Bank of America noted, “E2open preannounced 2FQ15 after the close with revenue inline in the range of $20.6-20.7mn vs. our/cons of $20.6mn/$0.7mn) and non-GAAP EPS of ($0.13)-(0.12), above our / consensus estimates of ($0.19). However, FY15 revenue was lowered to $83.0-$85.5mn, roughly $6mn below the previous guidance due to the loss of three contracts (HGST, LSI, and Brightstar) and project delays at another customer. FY15 new and upsell bookings guidance remained unchanged ($91.5-$96.5mn). In addition, David Packer, the Chief Sales Officer, announced his resignation, with Rob Schoenthaler, the Chief Customer Officer, to take his place.”
E2open closed on Wednesday at $15.61.
Latest Ratings for EOPN
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Sep 2014 | Pacific Crest | Downgrades | Outperform | Sector Perform |
| Jul 2014 | Bank of America | Downgrades | Buy | Neutral |
| Mar 2014 | Stephens & Co. | Initiates Coverage on | Overweight |
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Posted-In: Bank of America Scott S. ShiaoAnalyst Color Price Target Analyst Ratings
