2U, Inc. (NASDAQ:TWOU) Releases Q3 Earnings Guidance
2U, Inc. (NASDAQ:TWOU) updated its third quarter earnings guidance on Monday. The company provided earnings per share (EPS) guidance of ($0.21-0.20) for the period, compared to the Thomson Reuters consensus estimate of ($0.08). The company issued revenue guidance of $68.8-69.8 million, compared to the consensus revenue estimate of $66.84 million.2U also updated its FY17 guidance to ($0.19-0.17) EPS.
A number of equities research analysts recently issued reports on the company. Zacks Investment Research downgraded 2U from a buy rating to a hold rating in a research report on Thursday, July 13th. Needham & Company LLC reaffirmed a buy rating and issued a $54.00 target price (up previously from $49.00) on shares of 2U in a report on Friday, May 5th. Citigroup Inc. began coverage on 2U in a report on Tuesday, July 18th. They issued a buy rating and a $57.00 target price on the stock. BMO Capital Markets raised their target price on 2U from $48.00 to $50.00 and gave the company an outperform rating in a report on Friday, May 5th. Finally, KeyCorp reaffirmed an overweight rating and issued a $50.00 target price on shares of 2U in a report on Monday, July 10th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $51.14.
Shares of 2U, Inc. (TWOU) traded up 2.79% during midday trading on Monday, hitting $50.92. The company’s stock had a trading volume of 646,084 shares. The firm’s market cap is $2.42 billion. The stock’s 50 day moving average is $47.66 and its 200-day moving average is $41.48. 2U, Inc. has a 52-week low of $29.23 and a 52-week high of $52.94.
In related news, Director Timothy M. Haley sold 23,296 shares of the company’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $39.71, for a total value of $925,084.16. Following the completion of the transaction, the director now directly owns 23,454 shares in the company, valued at $931,358.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark Chernis sold 4,500 shares of the company’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $44.12, for a total transaction of $198,540.00. Following the completion of the transaction, the director now owns 19,825 shares of the company’s stock, valued at $874,679. The disclosure for this sale can be found here. In the last ninety days, insiders sold 73,210 shares of company stock worth $3,004,564. Insiders own 8.40% of the company’s stock.
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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