Pluralsight (NASDAQ:PS) Price Target Raised to $24.00

Pluralsight (NASDAQ:PS) had its price target boosted by SunTrust Banks from $23.00 to $24.00 in a research report released on Thursday morning, BenzingaRatingsTable reports. SunTrust Banks currently has a buy rating on the stock.

Other research analysts have also recently issued reports about the stock. Morgan Stanley raised their target price on shares of Pluralsight from $19.00 to $20.00 and gave the stock an equal weight rating in a report on Thursday. Raymond James raised their target price on shares of Pluralsight from $20.00 to $26.00 and gave the stock an outperform rating in a report on Thursday. ValuEngine cut shares of Pluralsight from a strong-buy rating to a buy rating in a report on Wednesday, April 15th. Needham & Company LLC reiterated a buy rating and issued a $25.00 target price on shares of Pluralsight in a report on Thursday. Finally, Zacks Investment Research upgraded shares of Pluralsight from a hold rating to a buy rating and set a $17.00 target price for the company in a report on Monday, May 4th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $22.21.

Shares of NASDAQ:PS traded down $0.33 during trading hours on Thursday, hitting $21.17. 1,929,202 shares of the company’s stock traded hands, compared to its average volume of 1,248,432. Pluralsight has a 52 week low of $6.59 and a 52 week high of $31.66. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.82 and a current ratio of 1.84. The company’s fifty day simple moving average is $18.48 and its two-hundred day simple moving average is $17.15. The company has a market cap of $3.03 billion, a price-to-earnings ratio of -18.09 and a beta of 2.63.

Pluralsight (NASDAQ:PS) last posted its quarterly earnings data on Wednesday, July 29th. The company reported ($0.27) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.30) by $0.03. Pluralsight had a negative net margin of 36.22% and a negative return on equity of 57.32%. The company had revenue of $94.77 million during the quarter, compared to analyst estimates of $88.23 million. During the same quarter last year, the firm posted ($0.06) EPS. The business’s revenue for the quarter was up 24.9% on a year-over-year basis. On average, analysts anticipate that Pluralsight will post -1.12 EPS for the current fiscal year.

In related news, insider Matthew Forkner sold 11,046 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $19.12, for a total transaction of $211,199.52. Following the transaction, the insider now owns 178,480 shares of the company’s stock, valued at $3,412,537.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Insight Holdings Group, Llc sold 4,040,690 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $18.92, for a total transaction of $76,449,854.80. The disclosure for this sale can be found here. 21.79% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Benjamin F. Edwards & Company Inc. raised its position in shares of Pluralsight by 1,542.1% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,299 shares of the company’s stock valued at $25,000 after purchasing an additional 2,159 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Pluralsight by 146.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,729 shares of the company’s stock valued at $107,000 after purchasing an additional 5,789 shares during the period. Metropolitan Life Insurance Co NY grew its stake in shares of Pluralsight by 122.1% in the first quarter. Metropolitan Life Insurance Co NY now owns 3,547 shares of the company’s stock worth $112,000 after acquiring an additional 1,950 shares during the last quarter. Raymond James & Associates acquired a new stake in shares of Pluralsight in the first quarter worth $115,000. Finally, Public Employees Retirement Association of Colorado grew its stake in shares of Pluralsight by 63.7% in the first quarter. Public Employees Retirement Association of Colorado now owns 11,968 shares of the company’s stock worth $131,000 after acquiring an additional 4,658 shares during the last quarter. 83.88% of the stock is currently owned by hedge funds and other institutional investors.

About Pluralsight

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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Analyst Recommendations for Pluralsight (NASDAQ:PS)

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