2U, Inc. (NASDAQ:TWOU) Price Target Increased to $62.00 by Analysts at Needham & Company LLC
2U, Inc. (NASDAQ:TWOU) had its target price raised by stock analysts at Needham & Company LLC from $54.00 to $62.00 in a report issued on Tuesday. The brokerage presently has a “buy” rating on the software maker’s stock. Needham & Company LLC’s target price suggests a potential upside of 21.76% from the company’s previous close.
Several other equities analysts also recently commented on the stock. Zacks Investment Research downgraded shares of 2U from a “buy” rating to a “hold” rating in a research report on Wednesday, May 10th. BidaskClub raised 2U from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 22nd. BMO Capital Markets raised their price target on 2U from $48.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday, May 15th. KeyCorp reaffirmed an “overweight” rating and issued a $50.00 price target on shares of 2U in a research report on Monday, July 10th. Finally, Citigroup Inc. started coverage on 2U in a research report on Tuesday, July 18th. They issued a “buy” rating and a $57.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $52.29.
2U (NASDAQ TWOU) opened at 50.92 on Tuesday. 2U has a 1-year low of $29.23 and a 1-year high of $52.94. The company has a 50 day moving average price of $47.66 and a 200 day moving average price of $41.48. The firm’s market cap is $2.42 billion.
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In other news, Director John M. Larson sold 45,000 shares of the firm’s 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Mark Chernis sold 4,500 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $44.12, for a total value of $198,540.00. Following the completion of the sale, the director now directly owns 19,825 shares in the company, valued at $874,679. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 73,210 shares of company stock worth $3,004,564. 8.40% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. Suntrust Banks Inc. boosted its stake in 2U by 1.2% in the first quarter. Suntrust Banks Inc. now owns 8,307 shares of the software maker’s stock valued at $329,000 after buying an additional 101 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in 2U by 0.9% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 16,455 shares of the software maker’s stock valued at $496,000 after buying an additional 140 shares during the last quarter. Bank of Montreal Can boosted its stake in 2U by 5.0% in the third quarter. Bank of Montreal Can now owns 3,240 shares of the software maker’s stock valued at $124,000 after buying an additional 155 shares during the last quarter. US Bancorp DE boosted 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 valued at $814,000 after buying an additional 169 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in 2U by 5.1% in the second quarter. Legal & General Group Plc now owns 4,787 shares of the software maker’s stock valued at $140,000 after buying an additional 233 shares during the last quarter.
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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