Needham & Company Starts E2open (EOPN) at Buy; Optimization of the Next Generation in Supply Chain

Needham & Company initiates coverage on E2open (NASDAQ: EOPN) with a Buy. PT $18.00.

Analyst, Michael Huang, said, "E2open is a leading provider of next generation SaaS Supply Chain Management Solutions to tier 1 brands, manufacturers, OEMs, and their respective trading partners...Somewhat analogous to how Salesforce.com seems to have disrupted and reinvented the mega CRM market with its ondemand/SaaS solutions and innovative business model, we believe E2open has a similar opportunity within its own mega market (supply chain management)...Additionally, we believe growth drivers are numerous, which gives us confidence over strengthening and premium growth rates over the intermediate term."

For an analyst ratings summary and ratings history on E2open click here. For more ratings news on E2open click here.

Shares of E2open closed at $11.90 yesterday.

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