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

Udemy (NASDAQ:UDMY) had its price objective cut by Robert W. Baird from $15.00 to $13.00 in a report released on Friday, Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities analysts have also commented on UDMY. Jefferies Financial Group reduced their price objective on shares of Udemy from $14.00 to $11.00 and set a hold rating on the stock in a research note on Monday, April 29th. Truist Financial lifted their target price on Udemy from $13.00 to $15.00 and gave the stock a buy rating in a report on Monday, January 22nd. TheStreet lowered Udemy from a c- rating to a d+ rating in a research note on Wednesday, March 6th. Morgan Stanley reduced their target price on Udemy from $15.00 to $13.00 and set an equal weight rating on the stock in a report on Friday, April 19th. Finally, Cantor Fitzgerald restated an overweight rating and set a $20.00 price target on shares of Udemy in a report on Thursday, February 15th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Udemy currently has an average rating of Moderate Buy and an average target price of $13.90.

Udemy Price Performance

Udemy stock traded up $0.24 during trading hours on Friday, hitting $10.13. The stock had a trading volume of 3,323,869 shares, compared to its average volume of 697,696. The business’s 50 day simple moving average is $10.65 and its 200-day simple moving average is $12.30. Udemy has a one year low of $8.17 and a one year high of $16.01.

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, beating analysts’ consensus estimates of ($0.16) by $0.04. Udemy had a negative net margin of 10.82% and a negative return on equity of 22.29%. The business had revenue of $189.55 million during the quarter, compared to analyst estimates of $185.71 million. Analysts expect that Udemy will post -0.47 EPS for the current year.

Insider Activity

In other news, CEO Gregory Scott Brown sold 10,000 shares of the firm’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 completion of the sale, the chief executive officer now directly owns 1,163,328 shares in the company, valued at approximately $12,843,141.12. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Udemy news, CEO Gregory Scott Brown sold 10,000 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $11.04, for a total transaction of $110,400.00. Following the completion of the sale, the chief executive officer now owns 1,163,328 shares in the company, valued at approximately $12,843,141.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Venu Venugopal sold 6,981 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $10.82, for a total transaction of $75,534.42. Following the completion of the transaction, the chief technology officer now directly owns 334,319 shares in the company, valued at $3,617,331.58. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,981 shares of company stock worth $514,884. Company insiders own 3.20% of the company’s stock.

Institutional Trading of Udemy

Institutional investors and hedge funds have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Udemy by 5.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,903 shares of the company’s stock valued at $205,000 after buying an additional 732 shares during the last quarter. 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 acquiring an additional 1,904 shares during the period. Swiss National Bank lifted its stake in Udemy by 2.0% in the third quarter. Swiss National Bank now owns 145,200 shares of the company’s stock valued at $1,379,000 after purchasing an additional 2,800 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Udemy by 28.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,171 shares of the company’s stock worth $125,000 after acquiring an additional 2,880 shares during the period. Finally, Venturi Wealth Management LLC purchased a new stake in Udemy in the 3rd quarter worth about $29,000. 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.