Pluralsight (NASDAQ:PS) Price Target Cut to $36.00 by Analysts at Citigroup

Pluralsight (NASDAQ:PS) had its target price lowered by Citigroup from $42.00 to $36.00 in a research note issued to investors on Friday morning, BenzingaRatingsTable reports. The brokerage currently has a buy rating on the stock.

Other research analysts also recently issued reports about the stock. Needham & Company LLC reduced their target price on shares of Pluralsight to $36.00 and set a buy rating for the company in a research report on Thursday. Zacks Investment Research downgraded shares of Pluralsight from a hold rating to a sell rating in a research report on Thursday, May 9th. Raymond James reduced their target price on shares of Pluralsight from $39.00 to $26.00 and set an outperform rating for the company in a research report on Thursday. SunTrust Banks reduced their target price on shares of Pluralsight to $27.00 and set a buy rating for the company in a research report on Thursday. Finally, Barrington Research assumed coverage on shares of Pluralsight in a research report on Monday, July 22nd. They set an outperform rating and a $40.00 target price for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of Buy and an average price target of $34.40.

Shares of Pluralsight stock traded down $0.88 on Friday, reaching $17.74. 119,075 shares of the company traded hands, compared to its average volume of 2,250,084. Pluralsight has a 52 week low of $17.88 and a 52 week high of $38.37. The business has a 50 day moving average of $30.43. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of -12.15 and a beta of 1.96. The company has a quick ratio of 3.79, a current ratio of 2.82 and a debt-to-equity ratio of 1.74.

Pluralsight (NASDAQ:PS) last released its earnings results on Wednesday, July 31st. The company reported ($0.32) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.28) by ($0.04). Pluralsight had a negative net margin of 28.32% and a negative return on equity of 47.43%. The company had revenue of $75.90 million for the quarter, compared to the consensus estimate of $73.87 million. During the same period in the prior year, the company earned ($0.21) earnings per share. The firm’s revenue was up 41.6% on a year-over-year basis. Equities research analysts predict that Pluralsight will post -0.97 EPS for the current year.

In related news, CEO Aaron Skonnard sold 84,594 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $30.47, for a total transaction of $2,577,579.18. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO James Budge sold 1,823 shares of the stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $33.34, for a total transaction of $60,778.82. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 133,994 shares of company stock worth $4,118,332. Corporate insiders own 23.19% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Parallel Advisors LLC bought a new position in shares of Pluralsight during the 1st quarter valued at $33,000. Daiwa Securities Group Inc. bought a new stake in Pluralsight in the 1st quarter worth $33,000. Rehmann Capital Advisory Group bought a new stake in Pluralsight in the 1st quarter worth $34,000. Icon Wealth Partners LLC bought a new stake in Pluralsight in the 1st quarter worth $34,000. Finally, Tompkins Financial Corp bought a new stake in Pluralsight in the 1st quarter worth $37,000. 77.39% of the stock is currently owned by institutional investors.

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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