Udemy (NASDAQ:UDMY - Free Report) had its price target lowered by Morgan Stanley from $9.00 to $7.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an underweight rating on the stock.
UDMY has been the topic of a number of other research reports. William Blair downgraded Udemy from an "outperform" rating to a "market perform" rating in a research report on Wednesday, March 12th. Canaccord Genuity Group boosted their price target on shares of Udemy from $12.00 to $14.00 and gave the company a "buy" rating in a research report on Friday, February 14th. Needham & Company LLC restated a "buy" rating and set a $11.00 price objective on shares of Udemy in a research report on Wednesday, March 12th. Finally, Truist Financial reiterated a "hold" rating and issued a $7.00 target price (down from $10.00) on shares of Udemy in a report on Monday, April 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Udemy has a consensus rating of "Moderate Buy" and a consensus target price of $10.50.
View Our Latest Stock Report on UDMY
Udemy Trading Down 1.8 %
UDMY traded down $0.11 during midday trading on Wednesday, hitting $6.01. 816,559 shares of the company traded hands, compared to its average volume of 967,688. Udemy has a 52-week low of $5.68 and a 52-week high of $11.60. The business has a 50 day simple moving average of $8.20 and a two-hundred day simple moving average of $8.11. The company has a market capitalization of $892.39 million, a price-to-earnings ratio of -10.54 and a beta of 1.81.
Udemy (NASDAQ:UDMY - Get Free Report) last released its earnings results on Thursday, February 13th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.10). Udemy had a negative return on equity of 27.93% and a negative net margin of 10.84%. The business had revenue of $199.94 million for the quarter, compared to analysts' expectations of $194.70 million. Equities research analysts anticipate that Udemy will post -0.09 earnings per share for the current year.
Insider Activity at Udemy
In other Udemy news, CTO Eren Bali sold 69,482 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $9.00, for a total value of $625,338.00. Following the completion of the transaction, the chief technology officer now owns 2,156,050 shares of the company's stock, valued at $19,404,450. This trade represents a 3.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Ltd Naspers sold 3,200,000 shares of Udemy stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $7.84, for a total value of $25,088,000.00. Following the completion of the transaction, the insider now owns 13,920,840 shares of the company's stock, valued at approximately $109,139,385.60. This trade represents a 18.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,305,168 shares of company stock worth $26,040,186. 3.20% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Udemy
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp lifted its stake in Udemy by 0.8% in the third quarter. State Street Corp now owns 1,934,473 shares of the company's stock worth $14,392,000 after acquiring an additional 15,339 shares during the last quarter. Barclays PLC grew its stake in shares of Udemy by 360.6% during the third quarter. Barclays PLC now owns 155,719 shares of the company's stock worth $1,158,000 after purchasing an additional 121,911 shares in the last quarter. Geode Capital Management LLC increased its holdings in Udemy by 0.3% in the third quarter. Geode Capital Management LLC now owns 2,216,868 shares of the company's stock valued at $16,497,000 after buying an additional 5,972 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Udemy by 26.2% in the third quarter. JPMorgan Chase & Co. now owns 198,387 shares of the company's stock valued at $1,476,000 after buying an additional 41,145 shares in the last quarter. Finally, Mirador Capital Partners LP acquired a new position in shares of Udemy during the 4th quarter worth about $148,000. 79.48% of the stock is owned by institutional investors and hedge funds.
About Udemy
(
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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.
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