Udemy (NASDAQ:UDMY) Given New $11.00 Price Target at Cantor Fitzgerald

Udemy (NASDAQ:UDMY - Free Report) had its price target trimmed by Cantor Fitzgerald from $18.00 to $11.00 in a research report released on Wednesday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other analysts have also commented on the stock. Morgan Stanley lowered shares of Udemy from an "equal weight" rating to an "underweight" rating and reduced their price target for the company from $10.00 to $7.50 in a research report on Friday, September 27th. Canaccord Genuity Group began coverage on Udemy in a report on Thursday, August 8th. They set a "buy" rating and a $12.00 price target for the company. KeyCorp reduced their price objective on shares of Udemy from $14.00 to $13.00 and set an "overweight" rating on the stock in a report on Monday, July 22nd. Truist Financial dropped their price target on shares of Udemy from $15.00 to $10.00 and set a "buy" rating for the company in a research report on Friday, August 2nd. Finally, Canaccord Genuity Group initiated coverage on Udemy in a research note on Thursday, August 8th. They set a "buy" rating and a $12.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $11.00.

Udemy Price Performance

Shares of NASDAQ:UDMY traded down $0.29 during midday trading on Wednesday, hitting $8.17. The company had a trading volume of 1,574,073 shares, compared to its average volume of 905,141. The business's 50-day simple moving average is $7.96 and its 200-day simple moving average is $8.51. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of -14.51 and a beta of 1.97. Udemy has a twelve month low of $6.67 and a twelve month high of $16.01.

Udemy (NASDAQ:UDMY - Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.07). Udemy had a negative return on equity of 26.62% and a negative net margin of 11.39%. The company had revenue of $194.36 million for the quarter, compared to analysts' expectations of $194.17 million. As a group, sell-side analysts forecast that Udemy will post -0.52 EPS for the current year.

Insiders Place Their Bets

In other Udemy news, CFO Sarah Blanchard sold 45,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $8.05, for a total transaction of $362,250.00. Following the sale, the chief financial officer now owns 1,001,761 shares of the company's stock, valued at approximately $8,064,176.05. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.20% of the stock is owned by company insiders.

Institutional Trading of Udemy

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. raised its holdings in Udemy by 28.9% during the third quarter. Harbor Capital Advisors Inc. now owns 20,433 shares of the company's stock worth $152,000 after purchasing an additional 4,581 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Udemy by 106.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 242,791 shares of the company's stock worth $1,806,000 after purchasing an additional 125,235 shares during the period. SG Americas Securities LLC purchased a new position in shares of Udemy during the 3rd quarter worth approximately $181,000. Ariadne Wealth Management LP acquired a new stake in shares of Udemy in the 2nd quarter valued at approximately $67,000. Finally, Algert Global LLC boosted its stake in shares of Udemy by 150.8% in the second quarter. Algert Global LLC now owns 238,672 shares of the company's stock valued at $2,060,000 after buying an additional 143,498 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.