Pluralsight (NASDAQ:PS) had its price target increased by stock analysts at Morgan Stanley from $19.00 to $20.00 in a note issued to investors on Thursday, BenzingaRatingsTable reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective suggests a potential downside of 5.53% from the company’s previous close.

Several other analysts have also issued reports on PS. Needham & Company LLC reaffirmed a “buy” rating and issued a $25.00 target price on shares of Pluralsight in a research note on Thursday. Piper Sandler began coverage on Pluralsight in a report on Thursday, May 21st. They set an “overweight” rating and a $26.00 target price for the company. Zacks Investment Research upgraded Pluralsight from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a report on Monday, May 4th. Barclays increased their price objective on Pluralsight from $19.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, June 17th. Finally, Raymond James decreased their price objective on Pluralsight from $26.00 to $20.00 and set an “outperform” rating for the company in a report on Thursday, April 30th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Pluralsight has a consensus rating of “Buy” and an average target price of $22.21.

Shares of NASDAQ PS traded down $0.33 during midday trading on Thursday, hitting $21.17. 1,929,202 shares of the company’s stock were exchanged, compared to its average volume of 1,248,432. Pluralsight has a 12-month low of $6.59 and a 12-month high of $31.66. 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 market cap of $3.03 billion, a price-to-earnings ratio of -18.09 and a beta of 2.63. The business’s fifty day moving average price is $18.48 and its two-hundred day moving average price is $17.15.

Pluralsight (NASDAQ:PS) last issued its quarterly earnings data on Wednesday, July 29th. The company reported ($0.27) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.30) by $0.03. Pluralsight had a negative return on equity of 57.32% and a negative net margin of 36.22%. The company had revenue of $94.77 million during the quarter, compared to analyst estimates of $88.23 million. During the same quarter in the previous year, the firm earned ($0.06) earnings per share. Pluralsight’s revenue was up 24.9% on a year-over-year basis. Equities analysts expect that Pluralsight will post -1.12 earnings per share for the current fiscal year.

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

Large investors have recently added to or reduced their stakes in the business. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Pluralsight by 1,542.1% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 2,299 shares of the company’s stock worth $25,000 after buying an additional 2,159 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Pluralsight by 146.9% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,729 shares of the company’s stock valued at $107,000 after buying an additional 5,789 shares in the last quarter. Metropolitan Life Insurance Co NY increased its position in Pluralsight by 122.1% during the 1st quarter. Metropolitan Life Insurance Co NY now owns 3,547 shares of the company’s stock valued at $112,000 after buying an additional 1,950 shares in the last quarter. Raymond James & Associates acquired a new position in Pluralsight during the 1st quarter valued at about $115,000. Finally, Public Employees Retirement Association of Colorado grew its stake in Pluralsight by 63.7% during 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. 83.88% of the stock is currently owned by institutional investors and hedge funds.

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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