These Analysts Slash Their Forecasts On 2U After Weak Q2 Results

2U, Inc. TWOU reported weaker-than-expected results for its second quarter.

2U posted an adjusted loss of 18 cents per share, missing analysts’ estimates for a loss of 7 cents per share. The company’s sales came in at $222.09 million, missing expectations of $234.15 million.

2U revised its FY23 net loss outlook from $93 million-$87 million to $225 million-$220 million.

2U shares dipped 16.6% to $3.57 in pre-market trading session.

These analysts made changes to their price targets on 2U following earnings announcement.

• Baird cut the price target on 2U from $12 to $4. Baird analyst Jeffrey Meuler downgraded the stock from Outperform to Neutral.
• Needham slashed the price target on 2U from $15 to $9. Needham analyst Ryan MacDonald maintained a Buy rating.

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