NEW YORK (TheStreet) -- Shares of E2open (EOPN) plummeted 29.53% to $11 in after-hours trading Wednesday after the company provided preliminary second-quarter results and adjusted its full-year revenue guidance.
The cloud-based, on-demand software provider expects full-year revenue in the range of $83 million to $85.5 million, down from previous guidance of $89 million to $91.5 million. The consensus estimate calls for revenue of $89.6 million for the fiscal year.
The company also announced preliminary second-quarter adjusted net loss per share in the range of 13 cents to 12 cents, narrower than the previous guidance of a loss of 20 cents to 18 cents. The company adjusted its revenue expectations to a range of $20.6 million to $20.7 million from a range of $20.2 million to $21 million.
Analysts expect a loss of 19 cents a share on revenue of $20.64 million for the quarter ended August 31.
E2open also reported Chief Customer Officer Rob Schoenthaler has taken over the company's sales organization.
Separately, TheStreet Ratings team rates E2OPEN INC as a "sell" with a ratings score of D-. TheStreet Ratings Team has this to say about their recommendation:
"We rate E2OPEN INC (EOPN) a SELL. This is driven by a few notable weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share."