2U Signs 50 New Online Degrees with Six University Partners
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Cantor Fitzgerald cuts 2U (TWOU) to Neutral as tech firm faces debt maturity
November 10, 2023 2:52 PM ESTCantor Fitzgerald downgraded 2U, Inc. (NASDAQ: TWOU) to a Neutral rating (From Overweight) and cut their 12-month price target on the educational tech group to $1.50 (From $5.30) as the company fights to stay afloat.
Heading into 3Q results, shares of TWOU were hovering close to their all-time lowest levels. A recent drop of 44%, from their 2Q to November 8th, was caused by the management's failure to disclose in the previous quarter that the full-year revenue guidance included a substantial one-time payment from university partners terminating specific degree programs.
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