Udemy (NASDAQ:UDMY) Price Target Cut to $14.00

Udemy (NASDAQ:UDMY) had its target price decreased by KeyCorp from $15.00 to $14.00 in a report published on Friday morning, Benzinga reports. KeyCorp currently has an overweight rating on the stock.

Several other equities research analysts have also recently commented on the company. Truist Financial increased their price objective on Udemy from $13.00 to $15.00 and gave the company a buy rating in a research report on Monday, January 22nd. Jefferies Financial Group reduced their price target on shares of Udemy from $14.00 to $11.00 and set a hold rating for the company in a research note on Monday, April 29th. Cantor Fitzgerald reissued an overweight rating and set a $20.00 price objective on shares of Udemy in a report on Friday. Piper Sandler restated a neutral rating and issued a $13.00 target price on shares of Udemy in a report on Thursday, February 15th. Finally, Robert W. Baird decreased their target price on shares of Udemy from $15.00 to $13.00 and set an outperform rating for the company in a research note on Friday. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $13.90.

Udemy Price Performance

Shares of UDMY stock opened at $10.13 on Friday. Udemy has a one year low of $8.17 and a one year high of $16.01. The company’s 50-day moving average is $10.65 and its 200 day moving average is $12.33.

Udemy (NASDAQ:UDMY) last announced its quarterly 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. The company had revenue of $189.55 million during the quarter, compared to the consensus estimate of $185.71 million. Udemy had a negative net margin of 10.82% and a negative return on equity of 22.29%. Analysts predict that Udemy will post -0.47 earnings per share for the current year.

Insider Activity

In other Udemy news, Director Eren Bali sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $10.97, for a total transaction of $164,550.00. Following the sale, the director now owns 1,676,050 shares in the company, valued at approximately $18,386,268.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Gregory Scott Brown sold 10,000 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was 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 in the company, valued at $12,843,141.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eren Bali sold 15,000 shares of Udemy stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $10.97, for a total value of $164,550.00. Following the sale, the director now directly owns 1,676,050 shares in the company, valued at approximately $18,386,268.50. The disclosure for this sale can be found here. Insiders have sold a total of 46,981 shares of company stock valued at $514,884 in the last ninety days. Corporate insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Udemy

Several institutional investors have recently bought and sold shares of the stock. SpiderRock Advisors LLC purchased a new position in shares of Udemy in the first quarter valued at $750,000. Principal Financial Group Inc. grew its stake in shares of Udemy by 18.8% in the 1st quarter. Principal Financial Group Inc. now owns 12,053 shares of the company’s stock worth $132,000 after buying an additional 1,904 shares in the last quarter. Seven Post Investment Office LP purchased a new stake in shares of Udemy during the 1st quarter valued at about $208,000. Assenagon Asset Management S.A. purchased a new stake in shares of Udemy during the 1st quarter valued at about $636,000. Finally, Summit Trail Advisors LLC lifted its holdings in shares of Udemy by 90.5% in the 1st quarter. Summit Trail Advisors LLC now owns 35,363 shares of the company’s stock valued at $388,000 after acquiring an additional 16,798 shares during the last quarter. 79.48% of the stock is owned by hedge funds and other institutional investors.

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.