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2U (TWOU) and Levi Strauss (LEVI) rise in midweek trading
Educational company 2U (TWOU) and clothing giant Levi Strauss (LEVI) were among those making gains on Wednesday, while AstraZeneca (AZN) fell despite winning approval for its vaccine.
2U, Inc. (TWOU) was one of the biggest movers on Wednesday, rising 7% in trading after Needham named the educational tech company as one of its top stock picks for next year.
Needham believes that 2U, which supplies a cloud-based SaaS platform to clients, has been a key beneficiary from the recent pivot to digital-based education.
2U has already seen its shares soar 76% for the year to date and Needham’s recommendation is unlikely to slow that momentum heading into the new year.
Its selection as top pick for 2021 saw TWOU advance a further 7.14% on the Nasdaq to $42.47.
Levi Strauss (LEVI) also eased 1.84% higher in midweek after Guggenheim added $4 to a new $24 price target in a bullish note to clients.
“We are encouraged by the company’s offensive strategy, strong brand, experienced management team, and healthy financial position,” analysts at the firm said.
Those fundamentals should put LEVI in a strong position when it begins to shrug off COVID-19-related disruptions in the coming months.
Bullish coverage also helped Dynatrace (DT) to rise 3.77% on the New York Stock Exchange on Wednesday.
Analysts at BTIG set a buy rating for the software intelligence platform on what it perceives to be the potential for strong growth in core markets next year.
The ongoing digital transformation drive will enable Dynatrace to prosper in the application performance management market, according to BTIG, which also offered a $56 price target.
Finally, AstraZeneca (AZN) closed 0.82% lower on the London Stock Exchange, even though its coronavirus vaccine was approved in the UK in a move that will see a mass rollout begin in early January.
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