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- Barrington Research analyst Alexander Paris has reiterated an Outperform rating on the shares of 2U Inc (NASDAQ:TWOU) with a price target of $9.
- 2U, Inc. will report the financial results of its fourth quarter on Feb. 2, after the market close.
- The analyst's estimates call for Q4 revenue of $234.0 million, down 4.0% Y/Y; adjusted EBITDA of $49.3 million, up 134.9% Y/Y, and an adjusted EPS of $0.22.
- The analyst expects FY 2022 revenue of $961.0 million, up 1.6% Y/Y; adjusted EBITDA of $116.0 million, up 74.2% Y/Y, and an adjusted net loss per share of $(0.16).
- Management reaffirmed its revenue guidance, which calls for revenue to exceed $960 million and increased its guidance for adjusted EBITDA to $115 million - $117 million, above its prior guidance of $105-115 million, said the analyst.
- The analyst sees FY23 revenue of $980.0 million, adjusted EBITDA of $153.0 million, and adjusted EPS of $0.25.
- The analyst remarked that on Jan. 9, 2U announced several refinancing transactions that together strengthen the company's credit profile by extending near-term maturities and reducing secured debt by $187 million.
- As part of the refinance, management said it continues to see positive returns from its platform strategy and the implementation of its Strategic Realignment Plan, originally announced in Q2/22.
- At current levels, the stock, which is up 23% YTD after declining 69% in 2022, is trading at only 1.4x 2023 revenue estimate, a substantial discount to its Ed Tech peer group average of 3.0x, the analyst noted.
- The analyst is supportive of management's plan to accelerate 2U's transition to a platform company under the edX brand and shifting its focus to more durable and profitable growth.
- Price Action: TWOU shares are trading lower by 6.00% at $8.06 on the last check Monday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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