2U, Inc. (NASDAQ:TWOU) Expected to Post Quarterly Sales of $64.29 Million
Brokerages expect 2U, Inc. (NASDAQ:TWOU) to announce $64.29 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for 2U’s earnings, with the highest sales estimate coming in at $64.40 million and the lowest estimate coming in at $64.20 million. 2U reported sales of $49.11 million in the same quarter last year, which indicates a positive year over year growth rate of 30.9%. The company is expected to issue its next earnings report after the market closes on Monday, August 7th.
According to Zacks, analysts expect that 2U will report full year sales of $64.29 million for the current financial year, with estimates ranging from $270.23 million to $280.90 million. For the next year, analysts forecast that the business will report sales of $361.43 million per share, with estimates ranging from $350.67 million to $386.30 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow 2U.
Several equities analysts recently commented on the company. KeyCorp reiterated an “overweight” rating and issued a $50.00 target price on shares of 2U in a research note on Monday, July 10th. Zacks Investment Research raised 2U from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research report on Thursday, July 6th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $54.00 target price (up previously from $43.00) on shares of 2U in a research report on Tuesday, April 4th. Citigroup Inc. initiated coverage on 2U in a research report on Tuesday, July 18th. They issued a “buy” rating and a $57.00 target price for the company. Finally, BMO Capital Markets increased their price target on 2U from $48.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, May 5th. One research analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. 2U presently has a consensus rating of “Buy” and a consensus price target of $47.80.
In other news, Director John M. Larson sold 45,000 shares of 2U stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $41.42, for a total value of $1,863,900.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mark Chernis sold 4,500 shares of 2U stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $44.12, for a total value of $198,540.00. Following the completion of the transaction, the director now owns 19,825 shares in the company, valued at $874,679. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 73,210 shares of company stock valued at $3,004,564. 8.40% of the stock is owned by corporate insiders.
Several institutional investors have recently bought and sold shares of the company. US Bancorp DE increased its stake in 2U by 1.0% in the second quarter. US Bancorp DE now owns 17,354 shares of the software maker’s stock worth $814,000 after buying an additional 169 shares during the period. Rehmann Capital Advisory Group bought a new stake in 2U during the second quarter worth $204,000. NN Investment Partners Holdings N.V. bought a new stake in 2U during the second quarter worth $3,660,000. Columbia Partners L L C Investment Management bought a new stake in 2U during the first quarter worth $261,000. Finally, Goldman Sachs Group Inc. increased its stake in 2U by 268.8% in the first quarter. Goldman Sachs Group Inc. now owns 91,047 shares of the software maker’s stock worth $3,611,000 after buying an additional 66,361 shares during the last quarter.
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Shares of 2U (NASDAQ:TWOU) opened at 50.05 on Friday. The firm’s market capitalization is $2.38 billion. The company’s 50 day moving average price is $46.10 and its 200-day moving average price is $40.35. 2U has a 12 month low of $29.23 and a 12 month high of $50.66.
2U Company Profile
2U, Inc is a provider of an integrated solution consisting of cloud-based software-as-a-service (SaaS) combined with technology-enabled services (together, the Platform) that allows colleges and universities to deliver online degree programs. The Company’s SaaS technology consists of a learning environment (Online Campus), which acts as the hub for all student and faculty academic and social interaction, and a suite of integrated applications, which the Company uses to launch, operate and support the Company’s clients’ programs.
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