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E2open (NASDAQ:EOPN) shares saw an uptick in trading volume on Friday following a better than expected earnings announcement, Analyst Ratings.Net reports. 463,740 shares changed hands during mid-day trading, an increase of 121% from the previous session’s volume of 209,410 shares.The stock last traded at $18.65 and had previously closed at $19.65.

The company reported ($0.14) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.15) by $0.01. The company had revenue of $19.60 million for the quarter, compared to the consensus estimate of $19.48 million. During the same quarter last year, the company posted ($0.15) earnings per share. E2open’s revenue was up 21.7% compared to the same quarter last year.

Separately, analysts at Canaccord Genuity cut their price target on shares of E2open from $28.00 to $22.00 in a research note on Friday, April 25th. They now have a “buy” rating on the stock. Eight research analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and an average price target of $26.86.

The stock has a 50-day moving average of $18.93 and a 200-day moving average of $21.71. The company’s market cap is $538.2 million.

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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