2U, Inc. (TWOU) Price Target Raised to $62.00 at Needham & Company LLC
2U, Inc. (NASDAQ:TWOU) had its price objective boosted by research analysts at Needham & Company LLC from $54.00 to $62.00 in a report issued on Tuesday. The firm presently has a “buy” rating on the software maker’s stock. Needham & Company LLC’s price target would indicate a potential upside of 21.76% from the company’s current price.
TWOU has been the topic of several other research reports. Zacks Investment Research cut shares of 2U from a “buy” rating to a “hold” rating in a report on Wednesday, May 10th. BMO Capital Markets upped their price target on shares of 2U from $48.00 to $50.00 and gave the stock an “outperform” rating in a report on Monday, May 15th. KeyCorp reaffirmed an “overweight” rating and issued a $50.00 price target on shares of 2U in a report on Monday, July 10th. BidaskClub raised shares of 2U from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 22nd. Finally, Citigroup Inc. started coverage on shares of 2U in a report on Tuesday, July 18th. They issued a “buy” rating and a $57.00 price target on the stock. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $52.29.
2U (NASDAQ:TWOU) opened at 50.92 on Tuesday. 2U has a 52 week low of $29.23 and a 52 week high of $52.94. The company’s market cap is $2.42 billion. The stock has a 50 day moving average price of $47.66 and a 200 day moving average price of $41.48.
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In related news, Director Mark Chernis sold 4,500 shares of the stock in a transaction on Wednesday, June 14th. The stock was 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 of the company’s stock, valued at $874,679. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Timothy M. Haley sold 23,296 shares of the stock in a transaction 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 completion of the transaction, the director now directly owns 23,454 shares in the company, valued at approximately $931,358.34. The disclosure for this sale can be found here. In the last ninety days, insiders sold 73,210 shares of company stock worth $3,004,564. Insiders own 8.40% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. purchased a new position in 2U during the first quarter worth approximately $126,000. Rehmann Capital Advisory Group purchased a new position in 2U during the second quarter worth approximately $204,000. Principal Financial Group Inc. purchased a new position in 2U during the first quarter worth approximately $208,000. Prudential Financial Inc. purchased a new position in 2U during the second quarter worth approximately $222,000. Finally, KCG Holdings Inc. purchased a new position in 2U during the first quarter worth approximately $250,000.
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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