Oppenheimer Holdings Comments on 2U, Inc.’s Q1 2019 Earnings (TWOU)
2U, Inc. (NASDAQ:TWOU) – Research analysts at Oppenheimer Holdings issued their Q1 2019 earnings estimates for 2U in a report released on Tuesday. Oppenheimer Holdings analyst B. Schwartz anticipates that the software maker will post earnings of ($0.11) per share for the quarter. Oppenheimer Holdings has a “Outperform” rating and a $55.00 price target on the stock. Oppenheimer Holdings also issued estimates for 2U’s Q2 2019 earnings at ($0.18) EPS and FY2019 earnings at ($0.54) EPS.
Several other research firms also recently weighed in on TWOU. Robert W. Baird boosted their price target on shares of 2U from $49.00 to $59.00 and gave the stock an “outperform” rating in a research note on Tuesday. Needham & Company LLC reissued a “buy” rating and issued a $54.00 price target (up from $49.00) on shares of 2U in a research note on Friday, May 5th. Zacks Investment Research downgraded shares of 2U from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. BidaskClub raised shares of 2U from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 22nd. Finally, Credit Suisse Group boosted their price target on shares of 2U from $54.00 to $58.00 and gave the stock an “outperform” rating in a research note on Tuesday. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $54.60.
2U (TWOU) traded down 3.72% during mid-day trading on Thursday, reaching $45.81. The company had a trading volume of 430,725 shares. 2U has a 12-month low of $29.23 and a 12-month high of $52.94. The firm has a 50-day moving average price of $48.53 and a 200 day moving average price of $42.06. The firm’s market capitalization is $2.20 billion.
Several institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its position in 2U by 105.6% in the first quarter. Bank of New York Mellon Corp now owns 474,297 shares of the software maker’s stock worth $18,810,000 after buying an additional 243,634 shares during the last quarter. US Bancorp DE boosted its position in 2U by 16.3% in the first quarter. US Bancorp DE now owns 17,185 shares of the software maker’s stock worth $681,000 after buying an additional 2,408 shares during the last quarter. Wells Fargo & Company MN boosted its position in 2U by 10.2% in the first quarter. Wells Fargo & Company MN now owns 574,323 shares of the software maker’s stock worth $22,777,000 after buying an additional 53,051 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of 2U by 188.4% in the first quarter. Russell Investments Group Ltd. now owns 63,449 shares of the software maker’s stock valued at $2,515,000 after buying an additional 41,446 shares in the last quarter. Finally, First Mercantile Trust Co. boosted its position in shares of 2U by 21.8% in the first quarter. First Mercantile Trust Co. now owns 26,257 shares of the software maker’s stock valued at $1,041,000 after buying an additional 4,698 shares in the last quarter.
In other 2U news, Director Mark Chernis sold 4,500 shares of the business’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $44.12, for a total value of $198,540.00. Following the transaction, the director now owns 19,825 shares in the company, valued at $874,679. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Timothy M. Haley sold 23,296 shares of the business’s stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $39.71, for a total transaction of $925,084.16. Following the completion of the transaction, the director now owns 23,454 shares in the company, valued at approximately $931,358.34. The disclosure for this sale can be found here. Insiders sold 72,796 shares of company stock worth $2,987,524 in the last 90 days. Corporate insiders own 8.40% of the company’s stock.
2U Company Profile
2U, Inc is a provider of an integrated solution consisting of cloud-based software-as-a-service (SaaS) combined with technology-enabled services (together, the Platform) that allows colleges and universities to deliver online degree programs. The Company’s SaaS technology consists of a learning environment (Online Campus), which acts as the hub for all student and faculty academic and social interaction, and a suite of integrated applications, which the Company uses to launch, operate and support the Company’s clients’ programs.
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