Added to YB: 2025-11-19
Pitch date: 2025-11-17
PRDO [bearish]
Perdoceo Education Corporation
Author Info
Bleecker Street Research is an activist short-seller exposing overvalued stocks. Sign up for the newsletter.
Company Info
Perdoceo Education Corporation provides postsecondary education through online, campus-based, and blended learning programs in the United States.
Market Cap
$2.0B
Pitch Price
N/A
Price Target
14.00 (-55%)
Dividend
1.93%
EV/EBITDA
5.85
P/E
13.36
EV/Sales
1.82
Sector
Diversified Consumer Services
Category
special_situation
Perdoceo Education Corp (PRDO): Going Ghost
PRDO (short): Ghost student fraud drove 200% stock surge; ~8% of revenue, ~34% of operating income from fake enrollments using stolen identities for federal aid. DoE Phase II verification launched Q4'25 ending easy fraud, peers warning of enrollment softness. Insiders sold $44M (48% holdings). Est ~20% 2026 EPS decline as ghost students purged, margins compress from 24% to 17%. Target $14-16 vs $32 current.
Read full article (20 min)