Cantor Fitzgerald Raises Udemy (NASDAQ:UDMY) Price Target to $10.00

Udemy (NASDAQ:UDMY) had its price target boosted by research analysts at Cantor Fitzgerald from $9.00 to $10.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Cantor Fitzgerald’s price target would indicate a potential upside of 37.55% from the stock’s current price.

Several other equities research analysts also recently weighed in on UDMY. Robert W. Baird reduced their price target on shares of Udemy from $13.00 to $11.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st. Morgan Stanley raised Udemy from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $7.00 to $9.00 in a report on Thursday, June 5th. Needham & Company LLC restated a “buy” rating and issued a $11.00 price target on shares of Udemy in a research note on Thursday. Wall Street Zen cut Udemy from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 12th. Finally, Canaccord Genuity Group reduced their price objective on Udemy from $14.00 to $12.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Udemy currently has an average rating of “Moderate Buy” and a consensus target price of $10.00.

Udemy Trading Down 4.5%

Udemy stock opened at $7.27 on Thursday. Udemy has a 12 month low of $5.68 and a 12 month high of $10.61. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of -34.62 and a beta of 1.78. The business’s fifty day simple moving average is $7.12 and its two-hundred day simple moving average is $7.52.

Udemy (NASDAQ:UDMY) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.12 by $0.04. The company had revenue of $199.88 million for the quarter, compared to the consensus estimate of $196.74 million. Udemy had a negative net margin of 3.85% and a negative return on equity of 5.40%. Udemy’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.04) EPS. On average, equities research analysts predict that Udemy will post -0.09 EPS for the current year.

Insider Buying and Selling

In related news, CEO Hugo Sarrazin acquired 22,695 shares of Udemy stock in a transaction dated Wednesday, May 21st. The stock was purchased at an average cost of $6.91 per share, for a total transaction of $156,822.45. Following the purchase, the chief executive officer directly owned 47,580 shares of the company’s stock, valued at approximately $328,777.80. This trade represents a 91.20% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Sarah Blanchard sold 25,000 shares of the firm’s stock in a transaction on Friday, June 13th. The stock was sold at an average price of $6.99, for a total value of $174,750.00. Following the completion of the transaction, the chief financial officer directly owned 1,077,097 shares in the company, valued at approximately $7,528,908.03. This represents a 2.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 47,580 shares of company stock valued at $330,894. 2.10% of the stock is owned by corporate insiders.

Institutional Trading of Udemy

Hedge funds have recently bought and sold shares of the stock. Quarry LP bought a new stake in shares of Udemy during the 4th quarter valued at $34,000. Vega Investment Solutions purchased a new stake in Udemy in the 4th quarter worth $46,000. GAMMA Investing LLC raised its holdings in Udemy by 558.3% during the first quarter. GAMMA Investing LLC now owns 6,945 shares of the company’s stock valued at $54,000 after acquiring an additional 5,890 shares during the period. State of Wyoming purchased a new position in shares of Udemy in the fourth quarter valued at about $59,000. Finally, New York State Teachers Retirement System purchased a new position in shares of Udemy in the second quarter valued at about $58,000. 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.