Wall Street brokerages expect Pluralsight Inc (NASDAQ:PS) to report sales of $79.75 million for the current quarter, according to Zacks. Six analysts have provided estimates for Pluralsight’s earnings, with the highest sales estimate coming in at $80.02 million and the lowest estimate coming in at $79.50 million. Pluralsight reported sales of $61.55 million in the same quarter last year, which indicates a positive year over year growth rate of 29.6%. The company is expected to report its next earnings results on Wednesday, October 23rd.
According to Zacks, analysts expect that Pluralsight will report full-year sales of $314.04 million for the current fiscal year, with estimates ranging from $311.96 million to $315.63 million. For the next year, analysts expect that the firm will post sales of $409.62 million, with estimates ranging from $391.84 million to $425.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Pluralsight.
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 Thomson Reuters’ consensus estimate of ($0.28) by ($0.04). Pluralsight had a negative return on equity of 47.43% and a negative net margin of 28.32%. The business had revenue of $75.90 million for the quarter, compared to analysts’ expectations of $73.87 million. During the same quarter last year, the company posted ($0.21) earnings per share. The business’s quarterly revenue was up 41.6% compared to the same quarter last year.
Several brokerages recently issued reports on PS. Raymond James cut their price target on Pluralsight from $39.00 to $26.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. Zacks Investment Research downgraded Pluralsight from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. KeyCorp cut their price target on Pluralsight from $40.00 to $28.00 and set an “overweight” rating on the stock in a report on Thursday, August 1st. Needham & Company LLC cut their price target on Pluralsight to $36.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Finally, Citigroup cut their price target on Pluralsight from $42.00 to $36.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $34.40.
NASDAQ:PS traded down $0.69 during trading hours on Thursday, reaching $15.63. 2,484,771 shares of the stock were exchanged, compared to its average volume of 1,901,252. The company has a quick ratio of 2.82, a current ratio of 2.82 and a debt-to-equity ratio of 1.74. The firm has a 50 day simple moving average of $26.74 and a 200-day simple moving average of $30.36. Pluralsight has a 52 week low of $15.48 and a 52 week high of $38.37. The stock has a market capitalization of $2.22 billion, a P/E ratio of -10.71 and a beta of 1.96.
In related news, CRO Joseph M. Dibartolomeo sold 1,938 shares of Pluralsight stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $33.44, for a total value of $64,806.72. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Aaron Skonnard sold 84,594 shares of Pluralsight stock in a transaction on Friday, July 26th. The stock was sold at an average price of $30.47, for a total value of $2,577,579.18. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 142,495 shares of company stock worth $4,228,330. 23.19% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Pluralsight by 31.5% in the second quarter. Vanguard Group Inc. now owns 6,502,774 shares of the company’s stock worth $197,164,000 after buying an additional 1,558,996 shares during the period. TimesSquare Capital Management LLC boosted its position in shares of Pluralsight by 38.6% in the second quarter. TimesSquare Capital Management LLC now owns 5,640,285 shares of the company’s stock worth $171,013,000 after buying an additional 1,571,685 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Pluralsight by 65.7% in the second quarter. Price T Rowe Associates Inc. MD now owns 4,986,019 shares of the company’s stock worth $151,176,000 after buying an additional 1,977,794 shares during the period. BlackRock Inc. boosted its position in shares of Pluralsight by 14.0% in the second quarter. BlackRock Inc. now owns 3,726,175 shares of the company’s stock worth $112,979,000 after buying an additional 458,958 shares during the period. Finally, FIL Ltd acquired a new stake in shares of Pluralsight in the first quarter worth $94,480,000. Institutional investors and hedge funds own 81.93% of the company’s stock.
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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