UPDATE: Benchmark Raises PT on E2open Following Upside Quarter

In a report published Friday, Benchmark analyst Mark W. Schappel reiterated a Buy rating on E2open (NASDAQ: EOPN), and raised the price target from $18.00 to $21.00.

In the report, Benchmark noted, “EOPN started FY14 on a high note, driving F1Q total revenue, subscription revenue and non-GAAP EPS ahead of our estimates. Management also nudged up its annual subscription revenue and bookings guidance, so we raised our full year estimates accordingly, but cut our F2Q numbers to account for a more back-end loaded year. The performance was sold in the context of the normal Q1 seasonal downturn.”

E2open closed on Thursday at $17.41.