SunTrust Banks Increases Pluralsight (NASDAQ:PS) Price Target to $24.00

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Pluralsight (NASDAQ:PS) had its price target lifted by stock analysts at SunTrust Banks from $23.00 to $24.00 in a report released on Thursday, BenzingaRatingsTable reports. The firm currently has a “buy” rating on the stock. SunTrust Banks’ price target points to a potential upside of 13.37% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Morgan Stanley upped their price target on Pluralsight from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Thursday. Piper Sandler assumed coverage on Pluralsight in a report on Thursday, May 21st. They set an “overweight” rating and a $26.00 target price on the stock. 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 objective (up from $15.00) on shares of Pluralsight in a research note on Thursday, April 30th. Finally, Zacks Investment Research upgraded shares of Pluralsight from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research note on Monday, May 4th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Pluralsight presently has a consensus rating of “Buy” and a consensus price target of $22.21.

Pluralsight stock opened at $21.17 on Thursday. The firm’s 50-day moving average is $18.48 and its two-hundred day moving average is $17.15. Pluralsight has a 12-month low of $6.59 and a 12-month high of $31.66. The stock has a market capitalization of $3.07 billion, a P/E ratio of -18.09 and a beta of 2.63. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.84 and a quick ratio of 1.82.

Pluralsight (NASDAQ:PS) last issued its earnings results on Wednesday, July 29th. The company reported ($0.27) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.03. The company had revenue of $94.77 million during the quarter, compared to analyst estimates of $88.23 million. Pluralsight had a negative return on equity of 57.32% and a negative net margin of 36.22%. The business’s revenue was up 24.9% on a year-over-year basis. During the same quarter last year, the firm earned ($0.06) EPS. As a group, analysts forecast that Pluralsight will post -1.12 EPS for the current year.

In other news, major shareholder Insight Holdings Group, Llc sold 4,040,690 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $18.92, for a total transaction of $76,449,854.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Matthew Forkner sold 11,046 shares of Pluralsight stock in a transaction dated Thursday, July 2nd. The shares were 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 $3,412,537.60. The disclosure for this sale can be found here. 21.79% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in PS. Insight Holdings Group LLC increased its stake in Pluralsight by 1.2% in the 1st quarter. Insight Holdings Group LLC now owns 19,199,657 shares of the company’s stock valued at $210,812,000 after buying an additional 236,965 shares during the period. ArrowMark Colorado Holdings LLC raised its holdings in Pluralsight by 131.5% in the 1st quarter. ArrowMark Colorado Holdings LLC now owns 8,946,540 shares of the company’s stock valued at $98,233,000 after buying an additional 5,082,219 shares during the last quarter. First Trust Advisors LP boosted its position in Pluralsight by 41.8% during the 1st quarter. First Trust Advisors LP now owns 5,631,407 shares of the company’s stock worth $61,833,000 after buying an additional 1,661,080 shares during the period. Mackenzie Financial Corp grew its holdings in Pluralsight by 1.0% during the 1st quarter. Mackenzie Financial Corp now owns 4,885,941 shares of the company’s stock worth $53,648,000 after acquiring an additional 48,500 shares during the last quarter. Finally, Fred Alger Management LLC increased its position in Pluralsight by 13.4% in the 1st quarter. Fred Alger Management LLC now owns 4,394,720 shares of the company’s stock valued at $48,254,000 after acquiring an additional 518,893 shares during the period. 83.88% of the stock is owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for Pluralsight (NASDAQ:PS)

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