Why E2open Stock Fell Hard Today

Shares of e2open Parent Holdings (NYSE: ETWO), a supply chain software platform company, were plummeting today after the company reported its first-quarter financial results. While the company beat analysts' consensus estimate for earnings, investors were disappointed that management cut its revenue outlook for the full year. 

The tech stock was down by 13% as of 3:31 p.m. ET Tuesday. 

E2open reported non-GAAP earnings per share of $0.07, which beat Wall Street's average estimate of $0.05. The company's first-quarter sales of $160.4 million -- up 142% year over year -- matched analysts' consensus estimate. 

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Source Fool.com