2U, Inc. (NASDAQ:TWOU – Get Rating)’s stock price traded down 7.7% during mid-day trading on Friday after Piper Sandler lowered their price target on the stock from $9.00 to $8.00. Piper Sandler currently has an underweight rating on the stock. 2U traded as low as $9.56 and last traded at $9.56. 35,385 shares traded hands during mid-day trading, a decline of 98% from the average session volume of 2,170,431 shares. The stock had previously closed at $10.36.
A number of other research firms also recently weighed in on TWOU. StockNews.com downgraded shares of 2U from a “hold” rating to a “sell” rating in a research report on Saturday, July 2nd. Macquarie downgraded shares of 2U from an “outperform” rating to a “neutral” rating and set a $11.00 price target for the company. in a research report on Monday. Barrington Research decreased their price target on shares of 2U from $25.00 to $16.00 in a research report on Friday, May 6th. Needham & Company LLC decreased their price target on shares of 2U from $19.00 to $15.00 and set a “buy” rating for the company in a research report on Friday. Finally, Morgan Stanley decreased their price target on shares of 2U from $22.00 to $17.00 and set an “equal weight” rating for the company in a research report on Thursday, April 14th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $22.73.
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Hedge funds have recently added to or reduced their stakes in the stock. ARK Investment Management LLC grew its position in shares of 2U by 4.3% during the second quarter. ARK Investment Management LLC now owns 9,586,065 shares of the software maker’s stock worth $89,342,000 after acquiring an additional 399,604 shares during the last quarter. Vanguard Group Inc. grew its position in 2U by 6.0% in the 1st quarter. Vanguard Group Inc. now owns 7,013,123 shares of the software maker’s stock worth $93,134,000 after purchasing an additional 397,314 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of 2U by 8.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,733,984 shares of the software maker’s stock valued at $76,147,000 after purchasing an additional 460,723 shares during the period. Nikko Asset Management Americas Inc. raised its holdings in shares of 2U by 8.7% during the first quarter. Nikko Asset Management Americas Inc. now owns 5,733,984 shares of the software maker’s stock valued at $74,542,000 after buying an additional 460,723 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of 2U by 11.1% during the first quarter. Invesco Ltd. now owns 1,769,009 shares of the software maker’s stock valued at $23,492,000 after buying an additional 177,100 shares during the last quarter.
2U Stock Performance
The firm has a market capitalization of $751.45 million, a price-to-earnings ratio of -2.63 and a beta of 1.07. The company has a 50-day moving average price of $10.00 and a 200-day moving average price of $11.41. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.42.
2U (NASDAQ:TWOU – Get Rating) last announced its earnings results on Thursday, July 28th. The software maker reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.06. 2U had a negative return on equity of 18.88% and a negative net margin of 28.45%. The firm had revenue of $241.46 million for the quarter, compared to the consensus estimate of $254.26 million. During the same quarter in the previous year, the business earned ($0.42) EPS. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. As a group, equities research analysts forecast that 2U, Inc. will post -1.71 earnings per share for the current year.
About 2U
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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Read More: 2U (NASDAQ:TWOU) Stock Price Down 7.7% After Analyst Downgrade