In a report published Monday, Bank of America analyst Scott S. Shiao downgraded the rating on E2open EOPN from Buy to Neutral, and lowered the price target from $23.50 to $21.50.
In the report, Bank of America noted, “While 1FQ15 results were in-line with our estimates (see variance), EOPN guided to a weaker than expected 2FQ and FY15 EPS (midpoint ($0.20)-($0.18) vs our est. ($0.12) and FY15 ($0.51)-($0.54) vs. our est. ($0.45)) due to the SERUS acquisition contributing an additional $2mn in operating losses. To reflect updated guidance, we adjust our FY15E revenue from $88.5mn to $89.4mn and EPS from ($0.45) to ($0.52); however, we also update our FY16 EPS est. from $0.04 to ($0.17) to reflect the increasing likelihood that a sustained period of elevated investment is ahead.”
E2open closed on Friday at $18.63.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in