What happened Shares of Pluralsight (NASDAQ: PS) got destroyed today, down by 23% as of 2:40 p.m. EST, after the company reported third-quarter earnings. The results beat analyst expectations, but investors were disappointed that billings growth is starting to decelerate. So what Revenue in the third quarter came in at $99.5 million, which topped the consensus estimate of $95.4 million. That resulted in adjusted earnings per share of breakeven, while Wall Street was modeling for the educational technology company to lose $0.06 per share on an adjusted basis. Billings grew 9% to $100 million, which represented deceleration compared to 11% growth in the second quarter and missed estimates. Image source: Pluralsight. "We handily beat our revenue, earnings, and cash expectations in Q3 and have raised our annual expectations for each," CEO Aaron Skonnard said in a statement. "Q3 billings came in lighter than we expected, but we had strong participation and enthusiasm at our PS LIVE customer event in October." Now what Guidance for the full year 2020 now calls for revenue of $387 million to $390 million, which is comfortably above the market's current expectations of $382.7 million in sales this year. That should result in an adjusted net loss of $0.12 to $0.14 per share, which is also better than the $0.23 per share in adjusted losses that analysts are modeling for. Following the results, JPMorgan downgraded its rating on Pluralsight shares from overweight to neutral while cutting its price target from $29 to $20 on concerns about the company's growth in 2021. 10 stocks we like better than Pluralsight, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Pluralsight, Inc. wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of October 20, 2020 Evan Niu, CFA has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source