2U, Inc. (TWOU) Price Target Increased to $58.00 by Analysts at Credit Suisse Group
2U, Inc. (NASDAQ:TWOU) had its price target boosted by investment analysts at Credit Suisse Group from $54.00 to $58.00 in a report issued on Tuesday. The brokerage presently has an “outperform” rating on the software maker’s stock. Credit Suisse Group’s target price would suggest a potential upside of 13.90% from the company’s current price.
TWOU has been the topic of several other research reports. Needham & Company LLC raised their price objective on 2U from $54.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday. KeyCorp reaffirmed an “overweight” rating and issued a $50.00 price objective on shares of 2U in a research note on Monday, July 10th. Oppenheimer Holdings, Inc. raised their price objective on 2U from $50.00 to $55.00 and gave the stock an “outperform” rating in a research note on Tuesday. Zacks Investment Research raised 2U from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research note on Thursday, July 6th. Finally, Citigroup Inc. assumed coverage on 2U in a research note on Tuesday, July 18th. They issued a “buy” rating and a $57.00 price objective on the stock. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $53.78.
2U (NASDAQ:TWOU) traded down 2.79% during mid-day trading on Tuesday, reaching $49.50. 561,542 shares of the company’s stock traded hands. The stock’s market cap is $2.35 billion. The company has a 50 day moving average price of $47.66 and a 200-day moving average price of $41.48. 2U has a 12 month low of $29.23 and a 12 month high of $52.94.
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In related news, Director John M. Larson sold 45,000 shares of 2U stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $41.42, for a total transaction of $1,863,900.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Timothy M. Haley sold 23,296 shares of 2U stock in a transaction that occurred 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 sale, the director now directly owns 23,454 shares in the company, valued at approximately $931,358.34. The disclosure for this sale can be found here. Insiders have sold a total of 73,210 shares of company stock worth $3,004,564 in the last three months. 8.40% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC increased its stake in shares of 2U by 87.7% in the fourth quarter. AQR Capital Management LLC now owns 18,685 shares of the software maker’s stock valued at $563,000 after buying an additional 8,730 shares during the period. Norges Bank acquired a new stake in shares of 2U during the fourth quarter valued at about $1,805,000. Quadrature Capital Ltd acquired a new stake in shares of 2U during the fourth quarter valued at about $395,000. Teachers Advisors LLC increased its stake in shares of 2U by 5.1% in the fourth quarter. Teachers Advisors LLC now owns 60,225 shares of the software maker’s stock valued at $1,816,000 after buying an additional 2,930 shares during the period. Finally, Macquarie Group Ltd. increased its stake in shares of 2U by 10.1% in the fourth quarter. Macquarie Group Ltd. now owns 74,573 shares of the software maker’s stock valued at $2,248,000 after buying an additional 6,847 shares during the period.
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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