E2open Parent Holdings climbs after upbeat FY outlook

E2open Parent Holdings

10/01/2024 16:18

** Shares of supply chain software platform E2open Parent
Holdings  ETWO.N  up 10% at $4.22
    ** Company expects FY subscription revenue to be in the
range of $533 mln - $536 mln, midpoint of which is slightly
higher than its prior projection of $530 mln to $538 mln
    ** Midpoint of company's 2024 revenue forecast is above LSEG
estimates
    ** Company reports Q3 profit in line with estimates, revenue
beats analysts' expectations
    ** UBS lifts PT by 50 cents to $4.50, says roughly in-line
report combined with a better tone on conversion rates as well
as recent steps to improve execution is likely enough to give
the stock some relief
    ** Stock lost nearly 60% of its value in 2022 and 2023
combined
    ** Stock soared in mid-October after activist investor
Elliott disclosed stake

 (Reporting by Medha Singh)
 ((medha.singh@thomsonreuters.com))