Barrington analyst Alexander Paris reiterated a Buy rating on Zovio Inc (ZVO) today and set a price target of $10. The company’s shares opened today at $3.80, close to its 52-week low of $3.20.
Paris wrote:
“We expect Zovio to release second quarter results on or around July 31. We have fine‐tuned our estimates to reflect Ashford’s success with its Military programs (which now account for 25% of enrollment each), which yield a better student in terms of retention, graduation and LTV but produce lower revenue per student. Our estimates now call for second quarter revenue of $109.0 million (‐8.4% YOY), down from our prior estimate of $113.5 million; an adjusted EBITDA loss of $4.2 million, down from our prior estimate calling for a loss of $1.8 million; and a non‐GAAP net loss per share of $0.20, down from our prior estimate calling for a non‐GAAP net loss per share of $0.10. Importantly, our estimates continue to assume an inflection in new student enrollment in Q2/19 that will be sustained going forward.”
According to TipRanks.com, Paris is a 4-star analyst with an average return of 6.5% and a 51.3% success rate. Paris covers the Services sector, focusing on stocks such as Adtalem Global Education Inc, American Public Education, and Strategic Education Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Zovio Inc with a $10 average price target.
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The company has a one-year high of $13.63 and a one-year low of $3.20. Currently, Zovio Inc has an average volume of 154.8K.
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Zovio, Inc. provides postsecondary education services. Through Ashford University and University of the RockiesSM, it offers online programs such as contemporary college experience. Its services also include mobile and other learning platform for students.
