Pluralsight (NASDAQ:PS)‘s stock had its “buy” rating reaffirmed by investment analysts at Needham & Company LLC in a research note issued to investors on Thursday, AnalystRatings.com reports. They currently have a $25.00 price target on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 18.09% from the company’s previous close.

A number of other equities analysts have also recently commented on PS. Piper Sandler initiated coverage on Pluralsight in a research note on Thursday, May 21st. They issued an “overweight” rating and a $26.00 price target on the stock. Morgan Stanley lifted their price target on Pluralsight from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 23rd. BidaskClub cut Pluralsight from a “buy” rating to a “hold” rating in a research note on Thursday, June 18th. Bank of America reaffirmed a “neutral” rating and issued a $18.00 price target (up from $15.00) on shares of Pluralsight in a research note on Thursday, April 30th. Finally, Raymond James decreased their price target on Pluralsight from $26.00 to $20.00 and set an “outperform” rating on the stock in a research note on Thursday, April 30th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Pluralsight presently has a consensus rating of “Buy” and a consensus price target of $22.21.

Shares of PS traded down $0.33 during trading hours on Thursday, reaching $21.17. 1,929,202 shares of the company’s stock traded hands, compared to its average volume of 1,248,432. The stock has a market cap of $3.03 billion, a PE ratio of -18.09 and a beta of 2.63. 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 firm’s 50 day simple moving average is $18.48 and its 200-day simple moving average is $17.15. Pluralsight has a 12 month low of $6.59 and a 12 month high of $31.66.

Pluralsight (NASDAQ:PS) last issued its quarterly earnings results on Wednesday, July 29th. The company reported ($0.27) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.30) by $0.03. The firm had revenue of $94.77 million during the quarter, compared to the consensus estimate of $88.23 million. Pluralsight had a negative return on equity of 57.32% and a negative net margin of 36.22%. The company’s revenue for the quarter was up 24.9% on a year-over-year basis. During the same quarter last year, the company posted ($0.06) EPS. As a group, 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 company’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 Securities & Exchange Commission, which is available at this hyperlink. Also, insider Matthew Forkner sold 11,046 shares of the company’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 sale, the insider now owns 178,480 shares of the company’s stock, valued at approximately $3,412,537.60. The disclosure for this sale can be found here. 21.79% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Sunbelt Securities Inc. purchased a new stake in shares of Pluralsight during the fourth quarter worth about $3,231,000. State Board of Administration of Florida Retirement System grew its position in shares of Pluralsight by 1.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 57,027 shares of the company’s stock worth $626,000 after purchasing an additional 779 shares in the last quarter. Metropolitan Life Insurance Co NY grew its position in shares of Pluralsight by 122.1% during the first quarter. Metropolitan Life Insurance Co NY now owns 3,547 shares of the company’s stock worth $112,000 after purchasing an additional 1,950 shares in the last quarter. Invesco Ltd. grew its position in shares of Pluralsight by 7.3% during the first quarter. Invesco Ltd. now owns 31,377 shares of the company’s stock worth $345,000 after purchasing an additional 2,132 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its position in shares of Pluralsight by 1,542.1% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,299 shares of the company’s stock worth $25,000 after purchasing an additional 2,159 shares in the last quarter. Institutional investors and hedge funds 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.

Further Reading: Capital Gains Distribution

Analyst Recommendations for Pluralsight (NASDAQ:PS)

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