2U (NASDAQ:TWOU) Price Target Cut to $3.00

2U (NASDAQ:TWOU) had its price objective reduced by analysts at Needham & Company LLC from $9.00 to $3.00 in a report issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the software maker’s stock. Needham & Company LLC’s price target would suggest a potential upside of 191.26% from the stock’s current price.

A number of other research analysts have also recently issued reports on the company. Piper Sandler decreased their target price on 2U from $6.00 to $4.00 and set a “neutral” rating on the stock in a research report on Thursday, August 10th. Robert W. Baird cut 2U from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $12.00 to $4.00 in a research report on Wednesday, August 9th. Cantor Fitzgerald cut 2U from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $5.30 to $1.50 in a research report on Friday. StockNews.com initiated coverage on 2U in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. Finally, Barrington Research cut 2U from an “outperform” rating to a “market perform” rating in a report on Friday. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, 2U has a consensus rating of “Hold” and a consensus price target of $4.68.

2U Stock Performance

2U stock opened at $1.03 on Friday. 2U has a 12-month low of $0.90 and a 12-month high of $13.15. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 2.92. The business’s 50-day moving average price is $2.41 and its two-hundred day moving average price is $3.37. The stock has a market cap of $83.86 million, a PE ratio of -0.29 and a beta of 1.27.

Insider Transactions at 2U

In other news, insider Aaron Mccullough bought 45,700 shares of the firm’s stock in a transaction on Thursday, August 17th. The stock was acquired at an average price of $3.14 per share, with a total value of $143,498.00. Following the transaction, the insider now owns 348,524 shares of the company’s stock, valued at approximately $1,094,365.36. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 4.80% of the company’s stock.

Institutional Trading of 2U

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. ARK Investment Management LLC increased its position in 2U by 11.2% during the 3rd quarter. ARK Investment Management LLC now owns 9,765,122 shares of the software maker’s stock valued at $24,120,000 after purchasing an additional 981,368 shares during the period. Vanguard Group Inc. increased its position in 2U by 6.8% during the 3rd quarter. Vanguard Group Inc. now owns 7,153,185 shares of the software maker’s stock valued at $44,707,000 after purchasing an additional 458,189 shares during the period. JPMorgan Chase & Co. increased its position in 2U by 4.5% during the 1st quarter. JPMorgan Chase & Co. now owns 1,817,383 shares of the software maker’s stock valued at $12,450,000 after purchasing an additional 77,706 shares during the period. Invesco Ltd. increased its position in 2U by 11.1% during the 1st quarter. Invesco Ltd. now owns 1,769,009 shares of the software maker’s stock valued at $23,492,000 after purchasing an additional 177,100 shares during the period. Finally, Geode Capital Management LLC increased its position in 2U by 5.5% during the 2nd quarter. Geode Capital Management LLC now owns 1,660,971 shares of the software maker’s stock valued at $6,694,000 after purchasing an additional 86,869 shares during the period. Institutional investors and hedge funds own 90.55% of the company’s stock.

About 2U

2U, Inc operates as an online education platform 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.