SkillSoft (NASDAQ:SKIL) Shares Gap Up After Analyst Upgrade

SkillSoft Corp. (NASDAQ:SKIL)’s share price gapped up before the market opened on Wednesday after Barclays raised their price target on the stock from $12.00 to $13.00. The stock had previously closed at $10.00, but opened at $10.28. Barclays currently has an overweight rating on the stock. SkillSoft shares last traded at $10.41, with a volume of 4,395 shares changing hands.

Several other equities analysts have also recently commented on SKIL. Citigroup started coverage on SkillSoft in a research note on Tuesday, June 22nd. They set a “buy” rating for the company. Piper Sandler increased their target price on SkillSoft from $11.00 to $12.00 and gave the company a “neutral” rating in a research note on Wednesday. B. Riley started coverage on SkillSoft in a research note on Thursday, June 24th. They set a “buy” rating and a $14.00 target price for the company. Oppenheimer assumed coverage on SkillSoft in a research note on Monday, August 16th. They set a “market perform” rating for the company. Finally, assumed coverage on SkillSoft in a research note on Tuesday, June 22nd. They set a “buy” rating and a $18.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $14.25.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. bought a new position in SkillSoft during the second quarter worth $59,000. Penserra Capital Management LLC bought a new stake in SkillSoft in the second quarter valued at $178,000. Morgan Stanley bought a new stake in SkillSoft in the second quarter valued at $247,000. Goldman Sachs Group Inc. bought a new stake in SkillSoft in the second quarter valued at $255,000. Finally, Must Asset Management Inc. bought a new stake in SkillSoft in the second quarter valued at $387,000. Hedge funds and other institutional investors own 36.26% of the company’s stock.

The business’s 50 day simple moving average is $9.36.

About SkillSoft (NASDAQ:SKIL)

Skillsoft Corp. provides corporate digital learning services in the United States and internationally. The company offers enterprise learning solutions to prepare organizations for the future of work, as well as enable them to overcome critical skill gaps, drive demonstrable behavior-change, and unlock the potential in their greatest assets.

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