Zacks: Brokerages Anticipate Pluralsight Inc (NASDAQ:PS) Will Post Quarterly Sales of $79.75 Million

Wall Street analysts expect Pluralsight Inc (NASDAQ:PS) to report $79.75 million in sales for the current quarter, Zacks reports. Six analysts have issued estimates for Pluralsight’s earnings, with the lowest sales estimate coming in at $79.50 million and the highest estimate coming in at $80.02 million. Pluralsight posted sales of $61.55 million in the same quarter last year, which would indicate a positive year over year growth rate of 29.6%. The business is scheduled to report its next quarterly earnings report 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 financial year, analysts anticipate that the business will report sales of $409.62 million, with estimates ranging from $391.84 million to $425.00 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Pluralsight.

Pluralsight (NASDAQ:PS) last released its earnings results on Wednesday, July 31st. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.28) by ($0.04). The business had revenue of $75.90 million during the quarter, compared to analyst estimates of $73.87 million. Pluralsight had a negative net margin of 28.32% and a negative return on equity of 47.43%. The business’s quarterly revenue was up 41.6% compared to the same quarter last year. During the same period last year, the business earned ($0.21) EPS.

Several brokerages have recently weighed in on PS. Barrington Research began coverage on Pluralsight in a report on Monday, July 22nd. They set an “outperform” rating and a $40.00 price objective on the stock. Citigroup decreased their price objective on Pluralsight from $42.00 to $36.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Raymond James decreased their price objective on Pluralsight from $39.00 to $26.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. KeyCorp decreased their price objective on Pluralsight from $40.00 to $28.00 and set an “overweight” rating on the stock in a report on Thursday, August 1st. Finally, Needham & Company LLC decreased their price objective on Pluralsight to $36.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $34.40.

In related news, CRO Joseph M. Dibartolomeo sold 1,938 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $33.44, for a total transaction of $64,806.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO James Budge sold 1,823 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $33.34, for a total value of $60,778.82. The disclosure for this sale can be found here. Insiders have sold a total of 142,495 shares of company stock worth $4,228,330 in the last three months. 23.19% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of PS. FIL Ltd bought a new position in Pluralsight in the 1st quarter valued at $94,480,000. First Trust Advisors LP raised its position in Pluralsight by 2,507.4% in the 2nd quarter. First Trust Advisors LP now owns 2,829,657 shares of the company’s stock valued at $85,795,000 after purchasing an additional 2,721,132 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Pluralsight by 65.7% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 4,986,019 shares of the company’s stock valued at $151,176,000 after purchasing an additional 1,977,794 shares during the last quarter. TimesSquare Capital Management LLC raised its position in Pluralsight by 87.6% in the 1st quarter. TimesSquare Capital Management LLC now owns 4,068,600 shares of the company’s stock valued at $129,137,000 after purchasing an additional 1,899,315 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Pluralsight by 152.2% in the 1st quarter. JPMorgan Chase & Co. now owns 2,720,788 shares of the company’s stock valued at $86,358,000 after purchasing an additional 1,642,071 shares during the last quarter. Institutional investors and hedge funds own 81.93% of the company’s stock.

Shares of NASDAQ:PS traded down $0.69 during trading on Thursday, hitting $15.63. 2,484,771 shares of the stock were exchanged, compared to its average volume of 1,901,252. Pluralsight has a 1-year low of $15.48 and a 1-year high of $38.37. The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of -10.71 and a beta of 1.96. The company’s fifty day simple moving average is $26.74 and its 200-day simple moving average is $30.36. The company has a debt-to-equity ratio of 1.74, a quick ratio of 2.82 and a current ratio of 2.82.

Pluralsight Company Profile

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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