Udemy (NASDAQ:UDMY – Free Report) had its price target decreased by Morgan Stanley from $9.00 to $7.00 in a report released on Wednesday,Benzinga reports. Morgan Stanley currently has an underweight rating on the stock.
Several other equities research analysts have also recently commented on UDMY. Truist Financial reaffirmed a “hold” rating and set a $7.00 target price (down previously from $10.00) on shares of Udemy in a research note on Monday, April 7th. Needham & Company LLC reiterated a “buy” rating and issued a $11.00 price objective on shares of Udemy in a research note on Wednesday, March 12th. William Blair downgraded shares of Udemy from an “outperform” rating to a “market perform” rating in a research report on Wednesday, March 12th. Finally, Canaccord Genuity Group raised their price target on shares of Udemy from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Friday, February 14th. 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 company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.50.
View Our Latest Research Report on UDMY
Udemy Price Performance
Udemy (NASDAQ:UDMY – Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.10). The firm had revenue of $199.94 million for the quarter, compared to analyst estimates of $194.70 million. Udemy had a negative return on equity of 27.93% and a negative net margin of 10.84%. As a group, research analysts expect that Udemy will post -0.09 earnings per share for the current year.
Insider Buying and Selling
In other Udemy news, CTO Eren Bali sold 10,000 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $8.02, for a total transaction of $80,200.00. Following the transaction, the chief technology officer now directly owns 2,146,050 shares in the company, valued at approximately $17,211,321. This trade represents a 0.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Ltd Naspers sold 3,200,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $7.84, for a total transaction of $25,088,000.00. Following the completion of the sale, the insider now owns 13,920,840 shares of the company’s stock, valued at approximately $109,139,385.60. The trade was a 18.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,305,168 shares of company stock worth $26,040,186 in the last quarter. Insiders own 3.20% of the company’s stock.
Hedge Funds Weigh In On Udemy
Several hedge funds have recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new stake in shares of Udemy during the fourth quarter valued at approximately $31,000. Quarry LP bought a new position in Udemy in the 4th quarter valued at $34,000. Vega Investment Solutions purchased a new stake in shares of Udemy during the 4th quarter valued at $46,000. GAMMA Investing LLC raised its stake in shares of Udemy by 558.3% during the 1st quarter. GAMMA Investing LLC now owns 6,945 shares of the company’s stock worth $54,000 after purchasing an additional 5,890 shares during the period. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Udemy by 496.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 7,220 shares of the company’s stock worth $59,000 after buying an additional 6,010 shares during the last quarter. Institutional investors own 79.48% of the company’s stock.
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.
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