Arcadia University launches online 'Semester of Code' in partnership with 2U » 09:2208/1308/13/20
Arcadia University is…
Arcadia University is launching a set of online undergraduate coding programs in partnership with 2U, the companies announced. "The Arcadia University Semester of Code will provide undergraduate students from colleges and universities across the nation with an opportunity to earn credits while developing market-relevant technology skills," Arcadia and 2U jointly stated in a press release.
American Public Education price target raised to $38 from $33 at BMO Capital » 07:5208/1208/12/20
BMO Capital analyst…
BMO Capital analyst Jeffrey Silber raised the firm's price target on American Public Education to $38 from $33 but keeps a Market Perform rating on the shares. The company's "sizable" earnings, margins, and revenue beats were driven by "very strong" and largely organic new enrollment trends, reflecting the recent grants to military students and increased online demand, the analyst tells investors in a research note. Silber adds however that while the tailwinds are projected to continue in Q3, American Public Education is too exposed to the "volatile" military tuition funding levels while also facing competitive pressure in the online education space.
Ashford deal blurs line between for-profit, public universities, NY Times says » 09:4308/1108/11/20
Last week, University of…
Last week, University of Arizona announced plans to acquire a for-profit online college called Ashford University, The New York Times' Kevin Carey writes. The transaction details reveal a something more complicated than just an acquisition as it looks more like a long-term partnership, the report notes. The current owner of Ashford University is a publicly traded corporation called Zovio, the author points out, adding that while the company recently acquired a few small start-up firms, Ashford is Zovio's only major business and they are essentially one and the same. The publication highlights that Zovio is also entering into a 15-year contract with the University of Arizona Global Campus to provide recruiting, marketing, information technology, instructional design and other services. Reference Link
American Public Education reports Q2 EPS 45c, consensus 24c » 16:2208/1008/10/20
Reports Q2 revenue…
Reports Q2 revenue $82.1M, consensus $77.87M. Net course registrations by new students at APUS increased 30% year-over-year. Total net course registrations increased 18% year-over-year to 89,600. New student enrollment at HCN increased 56% year-over-year and total student enrollment increased 14% year-over-year to 1,750. CEO Angela Selden said, "Our institutions were built on the belief that quality education should be accessible to all, not reserved for the few, and this is especially true during this period of great disruption in our economy and in higher education. The growth in enrollments in Q2 as compared to a year ago reflects the ongoing transformation that has been taking place at APEI over the past year. At HCN, we have improved curriculum and made pre-licensure degrees more readily available to individuals interested in the nursing field. At APUS, students looking to improve their future career prospects chose APUS for its affordability and high-quality academic programs. Moving forward, we will continue to emphasize helping more adult learners maximize their higher education return on investment with highly relevant programs of study at affordable prices," added Selden. "We believe this approach, combined with the investments we are making in our business operations and in our ongoing technology transformation, will further strengthen our ability to serve learners of all backgrounds with great distinction."
Aspen Group reports 2,351 new student enrollments in Q1 » 09:1608/1008/10/20
Aspen Group announced a…
Aspen Group announced a quarterly record of 2,351 new student enrollments in the fiscal 2021 first quarter ending July 31, 2020, a sequential increase of 32%, and 22% year-over-year. Quarterly bookings increased sequentially by 39%, and by 34% year-over-year from $26.9 million to $36.1 million. Aspen University generated 1,779 new student enrollments in the first quarter of fiscal year 2021, up 26% over the prior year. The strong enrollment growth at Aspen University was a result of record quarterly enrollments in its Doctoral and BSN Pre-Licensure units.United States University also delivered record enrollments in the first quarter with 572 new student enrollments driven primarily by MSN-Family Nurse Practitioner enrollments, a 32% sequential increase.
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Rosetta Stone price target raised to $30 from $22 at Barrington » 15:2008/0708/07/20
Barrington analyst Alexander Paris raised the firm's price target on Rosetta Stone to $30 from $22 and keeps an Outperform rating on the shares after its better than expected results and raised 2020 guidance. While the stock has nearly tripled since its March lows on speculation that it is considering a sale of all or part of its business, its current 3.2-times expected 2020 revenue multiple is still a discount relative to the 6.5-times of the Ed Tech peer group multiple, the analyst tells investors in a research note.
Rosetta Stone price target raised to $30 from $20 at Lake Street » 09:2408/0708/07/20
Lake Street analyst Eric…
Lake Street analyst Eric Martinuzzi raised the firm's price target on Rosetta Stone to $30 from $20 and keeps a Buy rating on the shares after the company had two of its three segments outperform amid the pandemic. While he said "revenue certainly matters," Martinuzzi sees bookings as "a better leading indicator of the health of Rosetta Stone," noting that total bookings jumped 41% in Q2.
Rosetta Stone reports Q2 EPS (15c), consensus (18c) » 16:4008/0608/06/20
Reports Q2 revenue…
Reports Q2 revenue $49.2M, consensus $47.33M.
Houghton Mifflin reports Q2 EPS (30c), consensus (30c) » 08:0808/0608/06/20
Reports Q2 revenue…
Reports Q2 revenue $251.22M, consensus $281.06M. "While our billings for Q2 continued to see the impact of the COVID-19 pandemic in April and early May, customer demand increased through the latter half of the quarter, and we experienced a more normal environment in the month of June," said CEO Jack Lynch. "As we focus on the acceleration of our digital first, connected strategy, we are partnering with and supporting customers nationwide in this unique back to school season, whether in person, fully remote or hybrid." CFO Joe Abbott added, "We managed our expenses with discipline, and as a result, were able to deliver adjusted EBITDA margins on par with the prior year despite net sales and billings declines. Our year to date performance and current liquidity position gave us the confidence to fully repay our revolving credit facility in July."
Laureate Education sees FY20 revenue $2.49B-$2.59B, consensus $2.7B 07:2408/0608/06/20