Cantor Fitzgerald Lowers Udemy (NASDAQ:UDMY) Price Target to $9.00

Udemy (NASDAQ:UDMY) had its target price decreased by equities research analysts at Cantor Fitzgerald from $11.00 to $9.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Cantor Fitzgerald’s price objective indicates a potential upside of 38.67% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Canaccord Genuity Group increased their price objective on shares of Udemy from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Needham & Company LLC reissued a “buy” rating and set a $11.00 price target on shares of Udemy in a report on Thursday. Robert W. Baird cut their price objective on Udemy from $13.00 to $11.00 and set an “outperform” rating for the company in a report on Thursday. William Blair cut Udemy from an “outperform” rating to a “market perform” rating in a research report on Wednesday, March 12th. Finally, JPMorgan Chase & Co. dropped their target price on Udemy from $11.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $9.86.

Udemy Trading Up 1.1 %

UDMY stock opened at $6.49 on Thursday. The stock’s 50 day simple moving average is $7.62 and its 200 day simple moving average is $8.03. Udemy has a 12-month low of $5.68 and a 12-month high of $11.60. The stock has a market capitalization of $965.26 million, a PE ratio of -11.39 and a beta of 1.81.

Udemy (NASDAQ:UDMY) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.10 by $0.02. Udemy had a negative return on equity of 27.93% and a negative net margin of 10.84%. The company had revenue of $200.30 million for the quarter, compared to analysts’ expectations of $197.19 million. During the same period last year, the firm posted $0.03 earnings per share. Udemy’s revenue was up 1.8% compared to the same quarter last year. On average, research analysts predict that Udemy will post -0.09 earnings per share for the current year.

Insiders Place Their Bets

In related news, CTO Eren Bali sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $8.02, for a total value of $80,200.00. Following the transaction, the chief technology officer now directly owns 2,146,050 shares of the company’s stock, valued at approximately $17,211,321. The trade was a 0.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Heather Hiles sold 14,840 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $9.81, for a total transaction of $145,580.40. Following the sale, the director now directly owns 42,667 shares of the company’s stock, valued at approximately $418,563.27. This trade represents a 25.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 105,168 shares of company stock worth $952,186. Company insiders own 3.20% of the company’s stock.

Institutional Trading of Udemy

Several hedge funds have recently bought and sold shares of the stock. Barclays PLC lifted its position in shares of Udemy by 360.6% in the third quarter. Barclays PLC now owns 155,719 shares of the company’s stock worth $1,158,000 after buying an additional 121,911 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in Udemy in the 4th quarter worth approximately $31,000. JPMorgan Chase & Co. raised its holdings in shares of Udemy by 26.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 198,387 shares of the company’s stock worth $1,476,000 after acquiring an additional 41,145 shares in the last quarter. Cornerstone Investment Partners LLC bought a new position in shares of Udemy during the 4th quarter valued at approximately $219,000. Finally, Handelsbanken Fonder AB grew its holdings in shares of Udemy by 45.2% in the fourth quarter. Handelsbanken Fonder AB now owns 15,100 shares of the company’s stock valued at $124,000 after purchasing an additional 4,700 shares in the last quarter. Hedge funds and other 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.