E2open price target lowered to $3.25 from $3.75 at BofA

BofA analyst Andrew Obin lowered the firm’s price target on E2open (ETWO) to $3.25 from $3.75 and keeps an Underperform rating on the shares. The firm notes E2open, a vendor of supply chain software, reported Q3 Subscription SaaS revenue of $132.0M, down (1.0%) year-over-year. This was above $131.1M consensus and midpoint of prior $130M-133M guidance and up sequentially. However, the midpoint of Q4 SaaS revenue guidance was below consensus and implies continued year-over-year declines, BofA adds.

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