2U, Inc. (NASDAQ:TWOU) Updates FY17 Earnings Guidance
2U, Inc. (NASDAQ:TWOU) updated its FY17 earnings guidance on Monday. The company provided earnings per share guidance of ($0.19-0.17) for the period, compared to the Thomson Reuters consensus earnings per share estimate of ($0.11). The company issued revenue guidance of $282.7-285.7 million, compared to the consensus revenue estimate of $271.61 million.2U also updated its Q3 guidance to ($0.21-0.20) EPS.
A number of research analysts have recently issued reports on the stock. Citigroup Inc. assumed coverage on shares of 2U in a research report on Tuesday, July 18th. They issued a buy rating and a $57.00 price objective on the stock. Zacks Investment Research downgraded shares of 2U from a buy rating to a hold rating in a research report on Thursday, July 13th. BidaskClub raised shares of 2U from a buy rating to a strong-buy rating in a research report on Thursday, June 22nd. KeyCorp reissued an overweight rating and set a $50.00 target price on shares of 2U in a research report on Monday, July 10th. Finally, Needham & Company LLC reissued a buy rating and set a $54.00 target price (up previously from $49.00) on shares of 2U in a research report on Friday, May 5th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $51.14.
2U, Inc. (TWOU) traded up 2.79% during mid-day trading on Monday, reaching $50.92. 646,201 shares of the company’s stock traded hands. The stock’s 50 day moving average is $47.66 and its 200-day moving average is $41.48. The stock’s market capitalization is $2.42 billion. 2U, Inc. has a 52 week low of $29.23 and a 52 week high of $52.94.
In other 2U news, Director Timothy M. Haley sold 23,296 shares of the stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $39.71, for a total value of $925,084.16. Following the transaction, the director now directly owns 23,454 shares in the company, valued at $931,358.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John M. Larson sold 45,000 shares of the stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $41.42, for a total transaction of $1,863,900.00. The disclosure for this sale can be found here. Insiders sold 73,210 shares of company stock worth $3,004,564 over the last quarter. 8.40% of the stock is currently owned by insiders.
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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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