Pluralsight’s (PS) Buy Rating Reaffirmed at Barrington Research
Barrington Research restated their buy rating on shares of Pluralsight (NASDAQ:PS) in a report issued on Thursday morning, 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 wrote.
PS has been the topic of several other reports. KeyCorp lowered 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. Citigroup lowered their price target on Pluralsight from $42.00 to $36.00 and set a buy rating on the stock in a research report on Friday, August 2nd. Bank of America lowered their price target 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 upgraded Pluralsight from a sell rating to a hold rating in a research report on Wednesday. Finally, Raymond James lowered their price target on Pluralsight from $39.00 to $26.00 and set an outperform rating on the stock in a research report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Pluralsight presently has an average rating of Buy and an average target price of $28.05.
Pluralsight (NASDAQ:PS) last announced its quarterly earnings results on Wednesday, July 31st. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.04). The company had revenue of $75.90 million for the quarter, compared to analyst estimates of $73.87 million. Pluralsight had a negative return on equity of 47.43% and a negative net margin of 28.32%. The firm’s revenue for the quarter was up 41.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.21) earnings per share. As a group, sell-side analysts forecast that Pluralsight will post -1.02 earnings per share for the current year.
In other news, insider Nate Walkingshaw sold 29,579 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $30.81, for a total transaction of $911,328.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Aaron Skonnard sold 84,594 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $30.47, for a total value of $2,577,579.18. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 146,426 shares of company stock worth $4,177,217. 23.19% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. GSA Capital Partners LLP acquired a new stake in shares of Pluralsight in the second quarter worth $326,000. Weiss Asset Management LP acquired a new stake in shares of Pluralsight in the first quarter worth $4,888,000. FDx Advisors Inc. boosted its position in shares of Pluralsight by 19.8% in the second quarter. FDx Advisors Inc. now owns 20,795 shares of the company’s stock worth $631,000 after buying an additional 3,432 shares during the period. MUFG Securities EMEA plc acquired a new stake in shares of Pluralsight in the second quarter worth $8,490,000. Finally, Elkfork Partners LLC boosted its position in shares of Pluralsight by 1.6% in the second quarter. Elkfork Partners LLC now owns 141,764 shares of the company’s stock worth $4,298,000 after buying an additional 2,212 shares during the period. 78.52% of the stock is owned by institutional investors and hedge funds.
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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