2U, Inc. (TWOU) Receives “Buy” Rating from Needham & Company LLC
2U, Inc. (NASDAQ:TWOU)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a research report issued on Friday, Marketbeat.com reports. They presently have a $66.00 price objective on the software maker’s stock, up from their prior price objective of $62.00. Needham & Company LLC’s target price indicates a potential upside of 11.56% from the stock’s current price.
Several other research analysts have also commented on TWOU. Robert W. Baird reaffirmed a “buy” rating and set a $66.00 price objective (up from $59.00) on shares of 2U in a research note on Friday. Compass Point reaffirmed a “buy” rating and set a $62.00 price objective (up from $56.00) on shares of 2U in a research note on Monday, September 11th. Credit Suisse Group AG began coverage on shares of 2U in a research note on Friday, September 8th. They set an “outperform” rating and a $58.00 price objective for the company. BidaskClub raised shares of 2U from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 23rd. Finally, Zacks Investment Research lowered shares of 2U from a “hold” rating to a “sell” rating in a research note on Saturday, August 12th. One equities research analyst has rated the stock with a sell rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $57.18.
Shares of 2U (TWOU) traded down 1.024% during midday trading on Friday, reaching $58.554. 344,559 shares of the company’s stock traded hands. The company has a 50-day moving average of $52.44 and a 200-day moving average of $46.53. The company’s market capitalization is $2.81 billion. 2U has a one year low of $29.23 and a one year high of $60.50.
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In other news, Director Mark Chernis sold 4,500 shares of the business’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $52.90, for a total transaction of $238,050.00. Following the completion of the sale, the director now directly owns 19,825 shares of the company’s stock, valued at $1,048,742.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John M. Larson sold 150,000 shares of the business’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $46.79, for a total transaction of $7,018,500.00. Following the sale, the director now directly owns 16,065 shares of the company’s stock, valued at $751,681.35. The disclosure for this sale can be found here. 8.40% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Alliancebernstein L.P. boosted its stake in shares of 2U by 16.2% during the second quarter. Alliancebernstein L.P. now owns 2,207,911 shares of the software maker’s stock valued at $103,595,000 after purchasing an additional 307,691 shares during the period. Vanguard Group Inc. boosted its stake in shares of 2U by 3.3% during the first quarter. Vanguard Group Inc. now owns 3,305,840 shares of the software maker’s stock valued at $131,109,000 after purchasing an additional 104,328 shares during the period. OppenheimerFunds Inc. purchased a new stake in shares of 2U during the first quarter valued at $9,977,000. Bank of New York Mellon Corp boosted its stake in shares of 2U by 105.6% during the first quarter. Bank of New York Mellon Corp now owns 474,297 shares of the software maker’s stock valued at $18,810,000 after purchasing an additional 243,634 shares during the period. Finally, BlackRock Inc. boosted its stake in shares of 2U by 66,695.5% during the first quarter. BlackRock Inc. now owns 2,320,475 shares of the software maker’s stock valued at $92,031,000 after purchasing an additional 2,317,001 shares during the period.
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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