Udemy (NASDAQ:UDMY) PT Lowered to $13.00

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

A number of other analysts have also recently weighed in on UDMY. Piper Sandler reiterated a “neutral” rating and issued a $13.00 price target on shares of Udemy in a research report on Thursday, February 15th. TheStreet lowered Udemy from a “c-” rating to a “d+” rating in a research note on Wednesday, March 6th. Robert W. Baird upped their price target on Udemy from $15.00 to $17.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $20.00 price target on shares of Udemy in a research note on Thursday, February 15th. Finally, KeyCorp upped their price target on Udemy from $13.00 to $15.00 and gave the company an “overweight” rating in a research note on Friday, January 12th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Udemy currently has a consensus rating of “Moderate Buy” and an average price target of $14.78.

Udemy Price Performance

Shares of UDMY traded down $0.06 on Friday, reaching $9.95. 359,392 shares of the stock traded hands, compared to its average volume of 906,652. The firm 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. The stock’s 50-day moving average price is $11.16 and its 200-day moving average price is $12.28.

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

Insiders Place Their Bets

In related news, Director Eren Bali sold 15,000 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $10.97, for a total transaction of $164,550.00. Following the completion of the transaction, the director now directly owns 1,676,050 shares in the company, valued at $18,386,268.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Eren Bali sold 15,000 shares of the 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 completion of the transaction, the director now directly owns 1,676,050 shares of the company’s stock, valued at $18,386,268.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gregory Scott Brown sold 10,000 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $11.04, for a total value of $110,400.00. Following the transaction, the chief executive officer now directly owns 1,163,328 shares of the company’s stock, valued at $12,843,141.12. The disclosure for this sale can be found here. Insiders sold 50,981 shares of company stock worth $570,044 over the last ninety days. 6.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of Udemy by 19.3% in the third quarter. Vanguard Group Inc. now owns 8,860,490 shares of the company’s stock valued at $84,175,000 after buying an additional 1,433,980 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Udemy by 21.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 666,116 shares of the company’s stock valued at $6,328,000 after buying an additional 117,846 shares during the last quarter. AlpInvest Partners B.V. acquired a new stake in shares of Udemy in the fourth quarter valued at approximately $1,514,000. SG Americas Securities LLC lifted its position in shares of Udemy by 317.5% in the fourth quarter. SG Americas Securities LLC now owns 41,883 shares of the company’s stock valued at $617,000 after buying an additional 31,850 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Udemy by 28.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,171 shares of the company’s stock valued at $125,000 after buying an additional 2,880 shares during the last quarter. 79.48% of the stock is owned by institutional investors and hedge funds.

About Udemy

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.