Robert W. Baird Has Lowered Expectations for Udemy (NASDAQ:UDMY) Stock Price

Udemy (NASDAQ:UDMY) had its target price reduced by equities research analysts at Robert W. Baird from $13.00 to $11.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s target price would suggest a potential upside of 69.49% from the stock’s current price.

Several other research analysts also recently commented on the company. Canaccord Genuity Group lifted their target price on Udemy from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Friday, February 14th. JPMorgan Chase & Co. cut their price objective on Udemy from $11.00 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, April 24th. Needham & Company LLC reiterated a “buy” rating and issued a $11.00 target price on shares of Udemy in a report on Thursday. William Blair lowered shares of Udemy from an “outperform” rating to a “market perform” rating in a report on Wednesday, March 12th. Finally, Morgan Stanley reduced their price objective on shares of Udemy from $9.00 to $7.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $9.86.

Udemy Trading Up 1.1 %

NASDAQ:UDMY opened at $6.49 on Thursday. The stock’s 50-day moving average is $7.62 and its 200-day moving average is $8.03. The stock has a market cap of $965.26 million, a P/E ratio of -11.39 and a beta of 1.81. Udemy has a 1-year low of $5.68 and a 1-year high of $11.60.

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

Insider Transactions at Udemy

In other news, CEO Gregory Scott Brown sold 10,000 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $9.43, for a total value of $94,300.00. Following the completion of the sale, the chief executive officer now owns 1,141,896 shares in the company, valued at $10,768,079.28. This represents a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Heather Hiles sold 14,840 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $9.81, for a total transaction of $145,580.40. Following the transaction, the director now directly owns 42,667 shares in the company, valued at $418,563.27. The trade was a 25.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 105,168 shares of company stock valued at $952,186 over the last ninety days. 3.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Udemy

A number of hedge funds and other institutional investors have recently modified their holdings of UDMY. SBI Securities Co. Ltd. bought a new stake in Udemy during the fourth quarter worth $31,000. Quarry LP purchased a new stake in shares of Udemy during the 4th quarter valued at $34,000. Vega Investment Solutions purchased a new stake in shares of Udemy during the 4th quarter valued at $46,000. GAMMA Investing LLC raised its stake in shares of Udemy by 558.3% during the 1st quarter. GAMMA Investing LLC now owns 6,945 shares of the company’s stock worth $54,000 after purchasing an additional 5,890 shares during the period. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Udemy by 496.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 7,220 shares of the company’s stock worth $59,000 after buying an additional 6,010 shares during the last quarter. Hedge funds and other institutional investors own 79.48% of the company’s stock.

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.