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Citigroup Increases 2U (NASDAQ:TWOU) Price Target to $50.00

Last updated on Tuesday, June 30, 2020 | 2020 MarketBeat

2U (NASDAQ:TWOU) had its price target raised by research analysts at Citigroup from $28.00 to $50.00 in a research note issued on Tuesday, BenzingaRatingsTable reports. The brokerage presently has a "buy" rating on the software maker's stock. Citigroup's price target points to a potential upside of 35.57% from the company's current price.

Several other research firms have also recently weighed in on TWOU. ValuEngine cut shares of 2U from a "strong-buy" rating to a "buy" rating in a research report on Friday, May 1st. Barrington Research restated an "outperform" rating and set a $30.00 price objective (up previously from $25.00) on shares of 2U in a research report on Friday, May 1st. KeyCorp began coverage on shares of 2U in a research report on Monday. They issued a "sector weight" rating for the company. DA Davidson raised their price target on 2U from $20.00 to $22.00 and gave the company a "neutral" rating in a research report on Tuesday, April 21st. Finally, BidaskClub upgraded 2U from a "buy" rating to a "strong-buy" rating in a research report on Friday, June 19th. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. 2U presently has a consensus rating of "Buy" and a consensus target price of $32.92.

Shares of NASDAQ TWOU opened at $36.88 on Tuesday. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.48. The stock has a fifty day simple moving average of $34.78 and a two-hundred day simple moving average of $25.80. 2U has a 1-year low of $11.37 and a 1-year high of $40.55. The firm has a market cap of $2.41 billion, a price-to-earnings ratio of -8.52 and a beta of 0.73.

2U (NASDAQ:TWOU) last posted its quarterly earnings results on Thursday, April 30th. The software maker reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.43) by $0.10. The company had revenue of $175.50 million during the quarter, compared to the consensus estimate of $175.32 million. 2U had a negative return on equity of 19.90% and a negative net margin of 43.60%. The firm's quarterly revenue was up 43.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.15) EPS. Analysts forecast that 2U will post -3.3 EPS for the current year.

In other news, CTO James Kenigsberg sold 33,000 shares of the firm's stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $32.87, for a total value of $1,084,710.00. Following the transaction, the chief technology officer now owns 157,971 shares in the company, valued at $5,192,506.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.50% of the company's stock.

Hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its holdings in shares of 2U by 5.2% during the fourth quarter. Geode Capital Management LLC now owns 695,646 shares of the software maker's stock worth $16,688,000 after purchasing an additional 34,559 shares during the period. Arizona State Retirement System purchased a new position in 2U during the 1st quarter valued at about $316,000. Bank of New York Mellon Corp raised its position in 2U by 14.6% during the 4th quarter. Bank of New York Mellon Corp now owns 219,716 shares of the software maker's stock valued at $5,270,000 after purchasing an additional 28,039 shares during the last quarter. IndexIQ Advisors LLC purchased a new stake in 2U in the 1st quarter worth approximately $175,000. Finally, Swiss National Bank lifted its holdings in 2U by 1.5% in the 1st quarter. Swiss National Bank now owns 123,100 shares of the software maker's stock worth $2,612,000 after buying an additional 1,800 shares during the period.

About 2U

2U, Inc operates as an education technology company in the United States, Hong Kong, South Africa, and the United Kingdom. The company operates through two segments, Graduate Program Segment and Short Course Segment. It offers front-end technology and services, including online learning platform, student and faculty and immersion support, accessibility, admissions application advising, in-program student field placements, and faculty recruiting.

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