Pluralsight (NASDAQ:PS) Price Target Raised to $24.00

Pluralsight (NASDAQ:PS) had its target price upped by research analysts at SunTrust Banks from $23.00 to $24.00 in a report released on Thursday, BenzingaRatingsTable reports. The brokerage currently has a “buy” rating on the stock. SunTrust Banks’ price target points to a potential upside of 13.37% from the stock’s previous close.

A number of other research analysts also recently issued reports on the company. Piper Sandler began coverage on Pluralsight in a research note on Thursday, May 21st. They set an “overweight” rating and a $26.00 price target on the stock. ValuEngine downgraded shares of Pluralsight from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, April 15th. Bank of America restated a “neutral” rating and issued a $18.00 price objective (up from $15.00) on shares of Pluralsight in a research note on Thursday, April 30th. BidaskClub downgraded shares of Pluralsight from a “buy” rating to a “hold” rating in a research note on Thursday, June 18th. Finally, Barclays boosted their price target on Pluralsight from $19.00 to $22.00 and gave the company an “overweight” rating in a research report on Wednesday, June 17th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $22.21.

Shares of Pluralsight stock opened at $21.17 on Thursday. The company has a current ratio of 1.84, a quick ratio of 1.82 and a debt-to-equity ratio of 2.20. The company has a fifty day simple moving average of $18.48 and a 200-day simple moving average of $17.15. The stock has a market cap of $3.07 billion, a price-to-earnings ratio of -18.09 and a beta of 2.63. Pluralsight has a 12-month low of $6.59 and a 12-month high of $31.66.

Pluralsight (NASDAQ:PS) last announced its quarterly earnings results on Wednesday, July 29th. The company reported ($0.27) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.03. The firm had revenue of $94.77 million during the quarter, compared to analysts’ expectations of $88.23 million. Pluralsight had a negative net margin of 36.22% and a negative return on equity of 57.32%. Pluralsight’s quarterly revenue was up 24.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.06) earnings per share. On average, analysts forecast that Pluralsight will post -1.12 earnings per share for the current fiscal year.

In other Pluralsight news, insider Matthew Forkner sold 11,046 shares of the company’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $19.12, for a total value of $211,199.52. Following the sale, the insider now owns 178,480 shares of the company’s stock, valued at $3,412,537.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Insight Holdings Group, Llc sold 4,040,690 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $18.92, for a total value of $76,449,854.80. The disclosure for this sale can be found here. 21.79% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of PS. Benjamin F. Edwards & Company Inc. boosted its position in Pluralsight by 1,542.1% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,299 shares of the company’s stock valued at $25,000 after buying an additional 2,159 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Pluralsight by 146.9% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,729 shares of the company’s stock worth $107,000 after buying an additional 5,789 shares during the last quarter. Metropolitan Life Insurance Co NY grew its stake in Pluralsight by 122.1% in the first quarter. Metropolitan Life Insurance Co NY now owns 3,547 shares of the company’s stock valued at $112,000 after purchasing an additional 1,950 shares in the last quarter. Raymond James & Associates bought a new stake in Pluralsight during the first quarter worth $115,000. Finally, Public Employees Retirement Association of Colorado lifted its stake in Pluralsight by 63.7% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 11,968 shares of the company’s stock valued at $131,000 after purchasing an additional 4,658 shares during the last quarter. Hedge funds and other institutional investors own 83.88% 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.

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Analyst Recommendations for Pluralsight (NASDAQ:PS)

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