E2open price target lowered to $7 from $9 at Loop Capital

Loop Capital lowered the firm’s price target on E2open to $7 from $9 but keeps a Buy rating on the shares. The analyst says the firm was not "sufficiently cautious" heading into the company’s Q4 print as E2open missed on earnings estimates and lowered FY24 subscription revenue growth expectations to 3% – down from the 9% formerly contemplated in consensus models. With the stock down 20% after-hours however, the risk/reward of the valuation does not support a Hold rating however, Loop Capital tells investors in a research note.