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Fly News Breaks for August 1, 2019
PS
Aug 1, 2019 | 08:46 EDT
Barrington analyst Alexander Paris recommends using today's post-earnings selloff in shares of Pluralsight as a buying opportunity. While management reaffirmed its full-year guidance, billings growth was below Q2 expectations, Paris tells investors in a research note. The analyst points out that management has identified and addressed the issue and expects much better billings growth immediately ahead. Pluralsight is growing its revenue at a 35% rate, which, when coupled with its total potential market opportunity, warrants a premium multiple, says Paris. As such, he reiterates an Outperform rating on the shares with a $40 price target.
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