Cantor Fitzgerald Has Lowered Expectations for Udemy (NASDAQ:UDMY) Stock Price

Udemy (NASDAQ:UDMY) had its target price cut by Cantor Fitzgerald from $11.00 to $9.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Truist Financial reaffirmed a “hold” rating and issued a $7.00 target price (down from $10.00) on shares of Udemy in a report on Monday, April 7th. Morgan Stanley lowered their price target 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. JPMorgan Chase & Co. reduced their price objective on Udemy from $11.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, April 24th. Robert W. Baird reduced their price target on shares of Udemy from $13.00 to $11.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 price objective on shares of Udemy in a research note on Thursday. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $9.86.

Udemy Trading Up 1.1 %

Shares of UDMY opened at $6.49 on Thursday. Udemy has a twelve month low of $5.68 and a twelve month high of $10.61. The firm has a market capitalization of $965.26 million, a price-to-earnings ratio of -11.39 and a beta of 1.81. The firm’s fifty day simple moving average is $7.62 and its 200-day simple moving average is $8.03.

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

Insider Activity

In other news, CTO Eren Bali sold 69,482 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $9.00, for a total value of $625,338.00. Following the completion of the transaction, the chief technology officer now directly owns 2,156,050 shares in the company, valued at approximately $19,404,450. This represents a 3.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gregory Scott Brown sold 10,000 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $9.43, for a total transaction of $94,300.00. Following the completion of the transaction, the chief executive officer now directly owns 1,141,896 shares of the company’s stock, valued at approximately $10,768,079.28. The trade was a 0.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 105,168 shares of company stock valued at $952,186 in the last ninety days. Company insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Udemy

Several hedge funds and other institutional investors have recently bought and sold shares of UDMY. Barclays PLC grew its stake in 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 purchasing an additional 121,911 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Udemy by 26.2% during the third quarter. JPMorgan Chase & Co. now owns 198,387 shares of the company’s stock worth $1,476,000 after buying an additional 41,145 shares during the period. Mirador Capital Partners LP acquired a new position in Udemy during the 4th quarter worth $148,000. Nisa Investment Advisors LLC grew its position in Udemy by 496.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 7,220 shares of the company’s stock valued at $59,000 after buying an additional 6,010 shares in the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of Udemy by 22.2% in the fourth quarter. SG Americas Securities LLC now owns 29,674 shares of the company’s stock valued at $244,000 after acquiring an additional 5,384 shares in the last quarter. 79.48% of the stock is currently owned by hedge funds and other institutional investors.

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.