Barrington Research restated their buy rating on shares of Pluralsight (NASDAQ:PS) in a research report released on Thursday, AnalystRatings.com reports.
“We believe that the growth trajectory and total potential market opportunity of the Pluralsight story warrant a premium multiple. As such, we are reiterating our OUTPERFORM investment rating and our $30 price target, which we recently reduced from $40, to reflect the increased volatility in its shares as well as lower peer group valuation multiples, still suggesting nearly a double from current levels.”,” Barrington Research’s analyst commented.
A number of other equities research analysts also recently weighed in on PS. Bank of America decreased their target price on Pluralsight from $25.00 to $22.00 and set a neutral rating on the stock in a research report on Thursday, August 29th. Zacks Investment Research raised Pluralsight from a sell rating to a hold rating in a research report on Wednesday. KeyCorp decreased their target price on Pluralsight from $28.00 to $25.00 and set an overweight rating on the stock in a research report on Wednesday. Raymond James decreased their target price on Pluralsight from $39.00 to $26.00 and set an outperform rating on the stock in a research report on Thursday, August 1st. Finally, Needham & Company LLC decreased their target price on Pluralsight to $36.00 and set a buy rating on the stock in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $28.05.
Pluralsight (NASDAQ:PS) last posted its quarterly earnings data on Wednesday, July 31st. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.04). The business had revenue of $75.90 million during the quarter, compared to the consensus estimate of $73.87 million. Pluralsight had a negative return on equity of 47.43% and a negative net margin of 28.32%. The company’s revenue for the quarter was up 41.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.21) earnings per share. Sell-side analysts anticipate that Pluralsight will post -1.02 EPS for the current year.
In other Pluralsight news, insider Nate Walkingshaw sold 10,000 shares of Pluralsight stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $19.05, for a total transaction of $190,500.00. Following the sale, the insider now directly owns 211,039 shares of the company’s stock, valued at $4,020,292.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Leah C. Johnson sold 8,500 shares of Pluralsight stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $18.96, for a total value of $161,160.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 146,426 shares of company stock worth $4,177,217. 23.19% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. River & Mercantile Asset Management LLP acquired a new position in shares of Pluralsight in the 2nd quarter worth approximately $4,122,000. Harbourvest Partners LLC acquired a new position in shares of Pluralsight in the 2nd quarter worth approximately $3,416,000. Atria Investments LLC acquired a new position in shares of Pluralsight in the 2nd quarter worth approximately $854,000. Treasurer of the State of North Carolina boosted its holdings in shares of Pluralsight by 10.9% in the 2nd quarter. Treasurer of the State of North Carolina now owns 24,993 shares of the company’s stock worth $758,000 after acquiring an additional 2,457 shares in the last quarter. Finally, Intrinsic Edge Capital Management LLC boosted its holdings in shares of Pluralsight by 106.0% in the 2nd quarter. Intrinsic Edge Capital Management LLC now owns 386,651 shares of the company’s stock worth $11,723,000 after acquiring an additional 199,001 shares in the last quarter. 78.52% of the stock is currently owned by institutional investors.
Pluralsight, Inc provides a technology skill development solutions worldwide. Its cloud-based technology skills platform offers a range of tools, including skill and role assessment tool, which uses machine learning and advanced algorithms to measure a user's skills, benchmark that user against others in the industry, and recommend opportunities for growth; and Course Library that include a digital ecosystem of thousands of on-demand courses across a range of technology subject areas, such as cloud, mobile, security, IT, and data.
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