DA Davidson Trims Skillsoft (NASDAQ:SKIL) Target Price to $3.00

Skillsoft (NASDAQ:SKILGet Rating) had its price objective reduced by DA Davidson from $7.00 to $3.00 in a report released on Thursday morning, The Fly reports.

Several other equities analysts have also commented on the stock. Barclays decreased their target price on shares of Skillsoft from $8.00 to $7.00 and set an overweight rating on the stock in a report on Tuesday, August 16th. Oppenheimer reissued an assumes rating on shares of Skillsoft in a report on Wednesday, July 27th. B. Riley decreased their target price on shares of Skillsoft from $11.00 to $6.00 and set a buy rating on the stock in a report on Tuesday, September 6th. Finally, Piper Sandler decreased their price target on shares of Skillsoft from $5.00 to $4.00 in a report on Monday, July 18th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Skillsoft has a consensus rating of Moderate Buy and an average target price of $7.92.

Skillsoft Price Performance

Shares of Skillsoft stock opened at $2.26 on Thursday. Skillsoft has a twelve month low of $2.22 and a twelve month high of $12.88. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.50. The company has a 50-day simple moving average of $3.83 and a two-hundred day simple moving average of $4.92. The stock has a market capitalization of $370.53 million, a price-to-earnings ratio of -1.97 and a beta of 0.69.

Skillsoft (NASDAQ:SKILGet Rating) last released its earnings results on Wednesday, June 8th. The company reported ($0.21) EPS for the quarter, meeting the consensus estimate of ($0.21). Skillsoft had a negative net margin of 27.77% and a negative return on equity of 3.80%. The firm had revenue of $170.25 million for the quarter, compared to analyst estimates of $167.68 million. Analysts forecast that Skillsoft will post -0.64 EPS for the current year.

Insider Activity at Skillsoft

In other Skillsoft news, CFO Gary W. Ferrera bought 30,000 shares of Skillsoft stock in a transaction on Tuesday, June 28th. The shares were purchased at an average cost of $3.61 per share, with a total value of $108,300.00. Following the acquisition, the chief financial officer now directly owns 30,000 shares of the company’s stock, valued at approximately $108,300. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Institutional Investors Weigh In On Skillsoft

A number of institutional investors have recently added to or reduced their stakes in the business. Naspers Ltd. bought a new stake in Skillsoft during the 4th quarter worth approximately $457,500,000. Vanguard Group Inc. grew its holdings in Skillsoft by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 2,797,459 shares of the company’s stock worth $16,896,000 after acquiring an additional 48,727 shares during the last quarter. Polen Capital Management LLC bought a new stake in Skillsoft during the 1st quarter worth approximately $10,679,000. Pictet Asset Management SA grew its holdings in Skillsoft by 113.8% during the 4th quarter. Pictet Asset Management SA now owns 1,584,106 shares of the company’s stock worth $14,495,000 after acquiring an additional 843,185 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Skillsoft by 2,285.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,350,294 shares of the company’s stock worth $8,156,000 after acquiring an additional 1,293,690 shares during the last quarter. 76.02% of the stock is owned by institutional investors.

About Skillsoft

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Skillsoft Corp. provides corporate digital learning services in the United States and internationally. The company operates through Content, Global Knowledge, and SumTotal segments. It 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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