Udemy (NASDAQ:UDMY) Price Target Cut to $13.00 by Analysts at Robert W. Baird

Udemy (NASDAQ:UDMY) had its target price dropped by stock analysts at Robert W. Baird from $15.00 to $13.00 in a report released on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s target price would indicate a potential upside of 28.33% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on UDMY. KeyCorp upped their price objective on shares of Udemy from $13.00 to $15.00 and gave the stock an “overweight” rating in a report on Friday, January 12th. Jefferies Financial Group decreased their price objective on shares of Udemy from $14.00 to $11.00 and set a “hold” rating for the company in a report on Monday, April 29th. Truist Financial upped their price objective on shares of Udemy from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, January 22nd. JPMorgan Chase & Co. upped their price objective on shares of Udemy from $11.00 to $12.00 and gave the stock a “neutral” rating in a report on Thursday, February 15th. Finally, Needham & Company LLC restated a “buy” rating and set a $15.00 price target on shares of Udemy in a report on Thursday, April 4th. Four equities research 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 has a consensus rating of “Moderate Buy” and a consensus price target of $13.90.

Udemy Trading Up 2.4 %

NASDAQ UDMY opened at $10.13 on Friday. Udemy has a 1-year low of $8.17 and a 1-year high of $16.01. The company has a market capitalization of $1.55 billion, a PE ratio of -19.11 and a beta of 2.12. The firm’s fifty day simple moving average is $10.65 and its 200-day simple moving average is $12.32.

Udemy (NASDAQ:UDMY) last issued its quarterly earnings data on Wednesday, February 14th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.04. The firm had revenue of $189.55 million during the quarter, compared to analysts’ expectations of $185.71 million. Udemy had a negative net margin of 10.82% and a negative return on equity of 22.29%. As a group, analysts predict that Udemy will post -0.47 EPS for the current year.

Insider Activity at Udemy

In related news, Director Eren Bali sold 15,000 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $10.96, for a total value of $164,400.00. Following the completion of the sale, the director now owns 1,661,050 shares in the company, valued at $18,205,108. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CTO Venu Venugopal sold 6,981 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $10.82, for a total value of $75,534.42. Following the completion of the sale, the chief technology officer now owns 334,319 shares in the company, valued at $3,617,331.58. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Eren Bali sold 15,000 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $10.96, for a total transaction of $164,400.00. Following the completion of the transaction, the director now directly owns 1,661,050 shares of the company’s stock, valued at approximately $18,205,108. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,981 shares of company stock worth $514,884. Company insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Venturi Wealth Management LLC acquired a new position in Udemy in the third quarter worth about $29,000. Daiwa Securities Group Inc. raised its position in Udemy by 261.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 4,730 shares of the company’s stock worth $70,000 after purchasing an additional 3,420 shares in the last quarter. RIA Advisory Group LLC acquired a new position in Udemy in the fourth quarter worth about $76,000. SG Americas Securities LLC acquired a new position in Udemy in the third quarter worth about $95,000. Finally, Principal Financial Group Inc. raised its position in Udemy by 18.8% in the first quarter. Principal Financial Group Inc. now owns 12,053 shares of the company’s stock worth $132,000 after purchasing an additional 1,904 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.