Udemy (NASDAQ:UDMY) PT Lowered to $13.00

Udemy (NASDAQ:UDMY) had its price target dropped by research analysts at Morgan Stanley from $15.00 to $13.00 in a report released on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 30.65% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. Truist Financial raised their price objective on shares of Udemy from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, January 22nd. Piper Sandler reiterated a “neutral” rating and set a $13.00 target price on shares of Udemy in a research report on Thursday, February 15th. Cantor Fitzgerald reiterated an “overweight” rating and set a $20.00 target price on shares of Udemy in a research report on Thursday, February 15th. JPMorgan Chase & Co. increased their target price on shares of Udemy from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. Finally, TheStreet lowered shares of Udemy from a “c-” rating to a “d+” rating in a research report on Wednesday, March 6th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Udemy currently has an average rating of “Moderate Buy” and an average target price of $14.78.

Udemy Price Performance

Shares of UDMY stock traded down $0.06 on Friday, hitting $9.95. The stock had a trading volume of 359,392 shares, compared to its average volume of 906,652. The business has a 50 day moving average of $11.16 and a 200 day moving average of $12.28. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of -13.86 and a beta of 2.14. Udemy has a 12-month low of $8.17 and a 12-month high of $16.01.

Udemy (NASDAQ:UDMY) last posted its quarterly earnings data on Wednesday, February 14th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.04. Udemy had a negative net margin of 14.72% and a negative return on equity of 27.31%. The business had revenue of $189.55 million during the quarter, compared to the consensus estimate of $185.71 million. As a group, research analysts expect that Udemy will post -0.47 earnings per share for the current fiscal year.

Insider Activity at Udemy

In related news, CTO Venu Venugopal sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $13.79, for a total value of $55,160.00. Following the sale, the chief technology officer now directly owns 352,013 shares of the company’s stock, valued at $4,854,259.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Udemy news, CTO Venu Venugopal sold 4,000 shares of Udemy stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $13.79, for a total transaction of $55,160.00. Following the transaction, the chief technology officer now directly owns 352,013 shares of the company’s stock, valued at $4,854,259.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eren Bali sold 15,000 shares of Udemy stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $10.97, for a total transaction of $164,550.00. Following the transaction, the director now directly owns 1,676,050 shares in the company, valued at $18,386,268.50. The disclosure for this sale can be found here. Insiders have sold 50,981 shares of company stock valued at $570,044 over the last three months. 6.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Venturi Wealth Management LLC bought a new position in Udemy in the 3rd quarter worth about $29,000. Lazard Asset Management LLC bought a new position in Udemy in the 1st quarter worth about $46,000. Tower Research Capital LLC TRC boosted its stake in Udemy by 58.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,545 shares of the company’s stock worth $49,000 after purchasing an additional 1,683 shares in the last quarter. Quantbot Technologies LP bought a new position in Udemy in the 2nd quarter worth about $58,000. Finally, Daiwa Securities Group Inc. boosted its stake in Udemy by 261.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 4,730 shares of the company’s stock worth $70,000 after purchasing an additional 3,420 shares in the last quarter. 79.48% of the stock is owned by hedge funds and other institutional investors.

Udemy Company Profile

Udemy, Inc, a learning company, that operates a marketplace platform for learning skills in the United States and internationally. The company offers skill acquisition, development, and validation courses for organizations and individuals, through direct-to-consumer or Udemy Business offerings in various languages.