Morgan Stanley Trims Udemy (NASDAQ:UDMY) Target Price to $13.00

Udemy (NASDAQ:UDMY) had its price objective lowered by research analysts at Morgan Stanley from $15.00 to $13.00 in a research report issued 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 31.05% from the stock’s previous close.

Other analysts have also issued reports about the stock. Robert W. Baird upped their price objective on shares of Udemy from $15.00 to $17.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. 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 research note on Monday, January 22nd. JPMorgan Chase & Co. lifted their price objective 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. KeyCorp increased their target price on Udemy from $13.00 to $15.00 and gave the company an “overweight” rating in a report on Friday, January 12th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $20.00 price target on shares of Udemy in a report on Thursday, February 15th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $14.78.

Udemy Stock Performance

Shares of NASDAQ UDMY opened at $9.92 on Friday. Udemy has a 1 year low of $8.17 and a 1 year high of $16.01. The firm has a market cap of $1.52 billion, a P/E ratio of -13.78 and a beta of 2.14. The stock has a fifty day moving average price of $10.99 and a two-hundred day moving average price of $12.27.

Udemy (NASDAQ:UDMY) last announced its earnings results on Wednesday, February 14th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.04. Udemy had a negative return on equity of 27.31% and a negative net margin of 14.72%. The business had revenue of $189.55 million during the quarter, compared to analysts’ expectations of $185.71 million. On average, research analysts predict that Udemy will post -0.47 earnings per share for the current fiscal year.

Insider Buying and Selling at Udemy

In other news, CTO Venu Venugopal sold 6,981 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $10.82, for a total transaction of $75,534.42. Following the completion of the sale, the chief technology officer now directly owns 334,319 shares of the company’s stock, valued at approximately $3,617,331.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Udemy news, CEO Gregory Scott Brown sold 10,000 shares of Udemy 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 completion of the sale, the chief executive officer now directly owns 1,163,328 shares in the company, valued at $12,843,141.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Venu Venugopal sold 6,981 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $10.82, for a total transaction of $75,534.42. Following the completion of the sale, the chief technology officer now directly owns 334,319 shares of the company’s stock, valued at $3,617,331.58. The disclosure for this sale can be found here. Insiders have sold 50,981 shares of company stock worth $570,044 over the last 90 days. 6.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Udemy

Several institutional investors and hedge funds have recently modified their holdings of UDMY. Venturi Wealth Management LLC acquired a new position in Udemy during the third quarter worth $29,000. Lazard Asset Management LLC bought a new stake in shares of Udemy during the 1st quarter worth about $46,000. Tower Research Capital LLC TRC increased its holdings in shares of Udemy by 58.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,545 shares of the company’s stock valued at $49,000 after acquiring an additional 1,683 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of Udemy in the 2nd quarter valued at approximately $58,000. Finally, Daiwa Securities Group Inc. raised its stake in shares of Udemy by 261.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 4,730 shares of the company’s stock valued at $70,000 after acquiring an additional 3,420 shares in the last quarter. Institutional investors and hedge funds 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.