Udemy (NASDAQ:UDMY) Stock Rating Reaffirmed by Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Udemy (NASDAQ:UDMY) in a research report report published on Friday, Benzinga reports. The brokerage currently has a $20.00 price target on the stock.

A number of other equities analysts have also issued reports on UDMY. Needham & Company LLC restated a buy rating and issued a $15.00 target price on shares of Udemy in a research note on Friday. Piper Sandler reaffirmed a neutral rating and set a $13.00 target price on shares of Udemy in a report on Thursday, February 15th. Morgan Stanley cut their price target on shares of Udemy from $15.00 to $13.00 and set an equal weight rating on the stock in a report on Friday, April 19th. TheStreet lowered shares of Udemy from a c- rating to a d+ rating in a research report on Wednesday, March 6th. Finally, Robert W. Baird dropped their price objective on shares of Udemy from $15.00 to $13.00 and set an outperform rating on the stock in a report on Friday. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $13.90.

Udemy Stock Performance

Shares of UDMY stock opened at $10.19 on Friday. Udemy has a fifty-two week low of $8.46 and a fifty-two week high of $16.01. The stock’s 50-day simple moving average is $10.63 and its 200-day simple moving average is $12.34.

Udemy (NASDAQ:UDMY) last released its earnings results on Wednesday, February 14th. The company reported ($0.12) EPS for the quarter, topping 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 company had revenue of $189.55 million during the quarter, compared to analysts’ expectations of $185.71 million. Equities analysts anticipate that Udemy will post -0.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Gregory Scott Brown sold 10,000 shares of Udemy 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 transaction, 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 SEC, which is available through the SEC website. In related news, Director Eren Bali sold 15,000 shares of Udemy stock in a transaction on Friday, March 15th. The shares were sold at an average price of $10.97, for a total value of $164,550.00. Following the sale, the director now owns 1,676,050 shares of the company’s stock, valued at approximately $18,386,268.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gregory Scott Brown sold 10,000 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was 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 directly owns 1,163,328 shares of the company’s stock, valued at approximately $12,843,141.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,981 shares of company stock worth $514,884. Company insiders own 3.20% of the company’s stock.

Institutional Trading of Udemy

A number of institutional investors and hedge funds have recently modified their holdings of UDMY. Zurcher Kantonalbank Zurich Cantonalbank lifted 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 in the last quarter. Principal Financial Group Inc. lifted its position in shares of Udemy by 18.8% in 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 in the last quarter. Swiss National Bank raised its stake in Udemy by 2.0% in the 3rd 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 lifted its holdings in Udemy by 28.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,171 shares of the company’s stock valued at $125,000 after purchasing an additional 2,880 shares in the last quarter. Finally, Venturi Wealth Management LLC acquired a new stake in Udemy during the 3rd quarter worth $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.