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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Pluralsight Inc    PS

PLURALSIGHT INC

(PS)
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Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Pluralsight, Inc. Investors (PS)

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08/14/2019 | 05:51pm EDT

Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Pluralsight, Inc. (“Pluralsight” or the “Company”) (NASDAQ: PS) common stock between August 2, 2018 and July 31, 2019, inclusive (the “Class Period”). Pluralsight investors have until October 15, 2019 to file a lead plaintiff motion.

Investors suffering losses on their Pluralsight investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.

On July 31, 2019, after the market closed, the Company reported billings for second quarter 2019 of $80.6 million, below the expected $89.1 million, due to certain “sales execution challenges.”

On this news, shares of Pluralsight fell $12.13 per share, nearly 40%, to close at $18.56 per share on August 1, 2019, thereby injuring investors.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that Pluralsight was experiencing sales execution challenges which impacted its billings; (2) that Pluralsight was experiencing substantial delays in hiring and properly training its salesforce that would be necessary to meet its lofty billing projections; (3) that Pluralsight was behind on the onboarding of new sales representatives which was causing sales execution issues and preventing the Company from meeting its high growth projections; and (4) that as a result, Pluralsight’s public statements were materially false and misleading at all relevant times.

If you purchased Pluralsight common stock, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.


© Business Wire 2019
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Financials (USD)
Sales 2019 314 M
EBIT 2019 -58,4 M
Net income 2019 -165 M
Finance 2019 69,3 M
Yield 2019 -
P/E ratio 2019 -13,4x
P/E ratio 2020 -15,6x
EV / Sales2019 4,84x
EV / Sales2020 3,97x
Capitalization 1 592 M
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Mean consensus BUY
Number of Analysts 11
Average target price 30,64  $
Last Close Price 15,75  $
Spread / Highest target 154%
Spread / Average Target 94,5%
Spread / Lowest Target 58,7%
EPS Revisions
Managers
NameTitle
Aaron Skonnard Chairman & Chief Executive Officer
Brandon Peay Senior VP-Strategy & Business Operations
James W. Budge CFO & Principal Accounting Officer
Gary Lewis Crittenden Lead Independent Director
Scott D. Dorsey Independent Director
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