Pluralsight’s (PS) “Buy” Rating Reiterated at Barrington Research

Pluralsight (NASDAQ:PS)‘s stock had its “buy” rating restated by investment analysts at Barrington Research in a research note issued to investors on Thursday, AnalystRatings.com reports.

The analysts wrote, “We believe that the growth trajectory and total potential market opportunity of the Pluralsight story warrant a premium multiple. As such, we are reiterating our OUTPERFORM investment rating and our $30 price target, which we recently reduced from $40, to reflect the increased volatility in its shares as well as lower peer group valuation multiples, still suggesting nearly a double from current levels.””

Other research analysts also recently issued research reports about the company. Bank of America reduced their price target on Pluralsight from $25.00 to $22.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. Needham & Company LLC reduced their price target on Pluralsight to $36.00 and set a “buy” rating for the company in a report on Thursday, August 1st. KeyCorp reduced their price target on Pluralsight from $28.00 to $25.00 and set an “overweight” rating for the company in a report on Wednesday. Zacks Investment Research raised Pluralsight from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, Citigroup reduced their price target on Pluralsight from $42.00 to $36.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $28.05.

Shares of PS stock traded up $0.17 during trading hours on Thursday, reaching $17.07. The company had a trading volume of 51,998 shares, compared to its average volume of 1,954,210. The company has a debt-to-equity ratio of 1.74, a quick ratio of 2.82 and a current ratio of 2.82. Pluralsight has a twelve month low of $14.84 and a twelve month high of $38.37. The company has a market capitalization of $2.19 billion, a P/E ratio of -11.68 and a beta of 2.29. The stock’s fifty day simple moving average is $18.58 and its 200 day simple moving average is $28.36.

Pluralsight (NASDAQ:PS) last posted its earnings results on Wednesday, July 31st. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.04). Pluralsight had a negative net margin of 28.32% and a negative return on equity of 47.43%. The company had revenue of $75.90 million during the quarter, compared to analyst estimates of $73.87 million. During the same quarter last year, the business posted ($0.21) EPS. Pluralsight’s quarterly revenue was up 41.6% compared to the same quarter last year. As a group, equities analysts expect that Pluralsight will post -1.02 earnings per share for the current year.

In related news, CEO Aaron Skonnard sold 84,594 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $30.47, for a total value of $2,577,579.18. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Leah C. Johnson sold 8,500 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $18.96, for a total value of $161,160.00. The disclosure for this sale can be found here. In the last three months, insiders sold 146,426 shares of company stock worth $4,177,217. Company insiders own 23.19% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Advisor Group Inc. increased its position in Pluralsight by 2.8% in the 2nd quarter. Advisor Group Inc. now owns 12,230 shares of the company’s stock valued at $371,000 after acquiring an additional 328 shares during the period. Neuburgh Advisers LLC increased its position in shares of Pluralsight by 0.6% during the 1st quarter. Neuburgh Advisers LLC now owns 79,744 shares of the company’s stock valued at $2,531,000 after purchasing an additional 480 shares during the period. Stephens Inc. AR increased its position in shares of Pluralsight by 11.9% during the 2nd quarter. Stephens Inc. AR now owns 7,399 shares of the company’s stock valued at $224,000 after purchasing an additional 788 shares during the period. United Services Automobile Association increased its position in shares of Pluralsight by 12.0% during the 2nd quarter. United Services Automobile Association now owns 8,460 shares of the company’s stock valued at $257,000 after purchasing an additional 906 shares during the period. Finally, Quantamental Technologies LLC acquired a new position in shares of Pluralsight during the 2nd quarter valued at $31,000. Hedge funds and other institutional investors own 78.52% of the company’s stock.

About Pluralsight

Pluralsight, Inc provides a technology skill development solutions worldwide. Its cloud-based technology skills platform offers a range of tools, including skill and role assessment tool, which uses machine learning and advanced algorithms to measure a user's skills, benchmark that user against others in the industry, and recommend opportunities for growth; and Course Library that include a digital ecosystem of thousands of on-demand courses across a range of technology subject areas, such as cloud, mobile, security, IT, and data.

Further Reading: Outstanding Shares and The Effect on Share Price

Analyst Recommendations for Pluralsight (NASDAQ:PS)

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