E2OPEN’s Buy Rating Reaffirmed at Bank of America (EOPN)
E2OPEN (NASDAQ:EOPN)‘s stock had its “buy” rating reiterated by research analysts at Bank of America in a report released on Thursday, AnalystRatings.NET reports. They currently have a $29.00 target price on the stock, up from their previous target price of $25.00. Bank of America’s target price suggests a potential upside of 8.05% from the stock’s previous close.
The analysts wrote, “EOPN’s win with a large oil & gas company through its Accenture partnership is the company’s largest ever initial deal signed and gives us further confidence around the company’s product strategy. The fundamental thesis on EOPN is unchanged with the company still the first SaaS company delivering comprehensive solutions to the $10bn SCM market. “We are raising our PO from $25 to $29, based on a based on the equal-weighting of an 8x CY15 EV/rev multiple to reflect the higher comp group valuation and our updated venture capital valuation approach. For our VC-style valuation, we are modeling three different growth scenarios over an eight-year period with different FCF margins and EV/FCF multiples appropriate for the different terminal growth rates. We then assign probabilities to the three scenarios to obtain a weighted average fair stock price.”
E2OPEN (NASDAQ:EOPN) last posted its quarterly earnings results on Thursday, January 9th. The company reported ($0.16) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.19) by $0.03. The company had revenue of $18.30 million for the quarter, compared to the consensus estimate of $18.41 million. During the same quarter last year, the company posted $0.04 earnings per share. E2OPEN’s revenue was down 3.1% compared to the same quarter last year.
Several other analysts have also recently commented on the stock. Analysts at Northland Securities raised their price target on shares of E2OPEN to $27.00 in a research note on Friday, January 10th. Separately, analysts at Canaccord Genuity raised their price target on shares of E2OPEN from $24.00 to $28.00 in a research note on Friday, January 10th. They now have a “buy” rating on the stock. Finally, analysts at Janney Montgomery Scott initiated coverage on shares of E2OPEN in a research note on Wednesday, December 11th. They set a “buy” rating on the stock. Seven research analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and an average target price of $26.00.
E2open, Inc is a provider of cloud-based, on-demand software solutions. The Company’s software applications allow network participants to input, access and share data and execute business processes across internal operating units and external entities.
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