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Craig-Hallum downgrades E2open to Hold following weak quarterly results
The Fly

Craig-Hallum downgrades E2open to Hold following weak quarterly results

As previously reported, Craig-Hallum analyst Chad Bennett downgraded E2open to Hold from Buy with a price target of $4.50, down from $9.50. The firm notes E2open posted moderately weak Q4 results and is seeing its business slow dramatically into 2024, with customers delaying and downsizing deals as they face an uncertain macro environment. These impacts were most notable among large, high-tech, and European customers – Craig-Hallum notes that high-tech and European customers represent about 25% and 12% of revenues, respectively. This led to management guiding to 3% Subscription revenue growth, well below its prior, recently lowered expectation of 9% growth, the firm adds.

Published first on TheFly

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