Udemy (NASDAQ:UDMY) PT Lowered to $13.00

Udemy (NASDAQ:UDMY) had its price target cut by research analysts at Robert W. Baird from $15.00 to $13.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price target would indicate a potential upside of 28.33% from the stock’s previous close.

Several other brokerages also recently weighed in on UDMY. Cantor Fitzgerald reiterated an “overweight” rating and issued a $20.00 target price on shares of Udemy in a research note on Thursday, February 15th. Needham & Company LLC restated a “buy” rating and issued a $15.00 price target on shares of Udemy in a research note on Thursday, April 4th. JPMorgan Chase & Co. lifted their price target on Udemy from $11.00 to $12.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. Piper Sandler restated a “neutral” rating and issued a $13.00 price target on shares of Udemy in a research note on Thursday, February 15th. Finally, Truist Financial lifted their price target on Udemy from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, January 22nd. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $13.90.

Udemy Trading Up 2.4 %

Shares of UDMY stock opened at $10.13 on Friday. The business’s 50 day moving average is $10.65 and its two-hundred day moving average is $12.32. Udemy has a twelve month low of $8.17 and a twelve month high of $16.01. The company has a market capitalization of $1.55 billion, a P/E ratio of -19.11 and a beta of 2.12.

Udemy (NASDAQ:UDMY) last announced its earnings results on Wednesday, February 14th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.04. Udemy had a negative return on equity of 22.29% and a negative net margin of 10.82%. The company had revenue of $189.55 million for the quarter, compared to the consensus estimate of $185.71 million. As a group, equities analysts predict that Udemy will post -0.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Udemy news, Director Eren Bali sold 15,000 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $10.96, for a total transaction of $164,400.00. Following the sale, the director now directly owns 1,661,050 shares in the company, valued at $18,205,108. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Eren Bali sold 15,000 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $10.96, for a total value of $164,400.00. Following the completion of the transaction, the director now directly owns 1,661,050 shares of the company’s stock, valued at $18,205,108. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Gregory Scott Brown sold 10,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $11.04, for a total value of $110,400.00. Following the completion of the transaction, the chief executive officer now owns 1,163,328 shares of the company’s stock, valued at $12,843,141.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,981 shares of company stock worth $514,884. 3.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Udemy

A number of institutional investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Udemy by 5.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,903 shares of the company’s stock valued at $205,000 after acquiring an additional 732 shares during the period. Principal Financial Group Inc. grew its position in Udemy by 18.8% during the first quarter. Principal Financial Group Inc. now owns 12,053 shares of the company’s stock valued at $132,000 after acquiring an additional 1,904 shares during the period. Swiss National Bank grew its position in Udemy by 2.0% during the third quarter. Swiss National Bank now owns 145,200 shares of the company’s stock valued at $1,379,000 after acquiring an additional 2,800 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Udemy by 28.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,171 shares of the company’s stock valued at $125,000 after acquiring an additional 2,880 shares during the period. Finally, Venturi Wealth Management LLC purchased a new stake in Udemy during the third quarter valued at about $29,000. 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.