Needham & Company LLC Trims 2U (NASDAQ:TWOU) Target Price to $19.00

2U (NASDAQ:TWOUGet Rating) had its price target cut by investment analysts at Needham & Company LLC from $28.00 to $19.00 in a research note issued to investors on Friday, The Fly reports. Needham & Company LLC’s price objective would indicate a potential upside of 102.99% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. The Goldman Sachs Group upgraded 2U from a “neutral” rating to a “buy” rating and cut their price objective for the company from $42.00 to $25.00 in a report on Wednesday, February 2nd. Barrington Research cut their price objective on 2U from $30.00 to $25.00 in a report on Thursday, February 10th. Morgan Stanley cut their price objective on 2U from $22.00 to $17.00 and set an “equal weight” rating on the stock in a report on Thursday, April 14th. Piper Sandler cut their target price on 2U from $23.00 to $15.00 in a research note on Thursday, February 10th. Finally, Jefferies Financial Group cut their target price on 2U from $55.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, January 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $25.18.

Shares of NASDAQ TWOU opened at $9.36 on Friday. The stock has a market cap of $720.63 million, a PE ratio of -3.60 and a beta of 1.22. The business has a fifty day moving average of $11.47 and a two-hundred day moving average of $17.21. 2U has a 52-week low of $8.63 and a 52-week high of $46.52. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.18 and a current ratio of 1.18.

2U (NASDAQ:TWOUGet Rating) last announced its earnings results on Thursday, May 5th. The software maker reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.02. The company had revenue of $253.33 million during the quarter, compared to analyst estimates of $252.97 million. 2U had a negative return on equity of 16.45% and a negative net margin of 20.59%. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period last year, the company posted ($0.46) earnings per share. Analysts predict that 2U will post -2.14 earnings per share for the current year.

In related news, COO Mark Chernis bought 33,482 shares of the business’s stock in a transaction dated Monday, February 14th. The stock was purchased at an average cost of $9.10 per share, for a total transaction of $304,686.20. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Paul A. Maeder bought 110,000 shares of the business’s stock in a transaction dated Monday, February 14th. The shares were bought at an average price of $9.43 per share, with a total value of $1,037,300.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 169,522 shares of company stock valued at $1,593,012. Corporate insiders own 4.50% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Tocqueville Asset Management L.P. raised its position in 2U by 1.0% in the third quarter. Tocqueville Asset Management L.P. now owns 40,905 shares of the software maker’s stock valued at $1,373,000 after purchasing an additional 400 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in 2U by 0.3% in the third quarter. Oppenheimer Asset Management Inc. now owns 175,550 shares of the software maker’s stock valued at $5,893,000 after purchasing an additional 493 shares during the last quarter. MML Investors Services LLC raised its position in 2U by 8.0% in the third quarter. MML Investors Services LLC now owns 8,724 shares of the software maker’s stock valued at $293,000 after purchasing an additional 649 shares during the last quarter. California State Teachers Retirement System raised its position in 2U by 0.8% in the third quarter. California State Teachers Retirement System now owns 99,611 shares of the software maker’s stock valued at $3,344,000 after purchasing an additional 787 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its position in 2U by 56.1% in the third quarter. First Horizon Advisors Inc. now owns 2,580 shares of the software maker’s stock valued at $224,000 after purchasing an additional 927 shares during the last quarter.

About 2U (Get Rating)

2U, Inc operates as an education technology company in the United States and internationally. The company operates through two segments, Degree Program and Alternative Credential. The Degree Program segment provides the technology and services to nonprofit colleges and universities to enable the online delivery of degree programs.

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