Udemy (NASDAQ:UDMY) Price Target Cut to $11.00 by Analysts at Needham & Company LLC

Udemy (NASDAQ:UDMY) had its price objective cut by Needham & Company LLC from $15.00 to $11.00 in a research report released on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Robert W. Baird cut their target price on Udemy from $13.00 to $11.00 and set an “outperform” rating on the stock in a research note on Thursday, August 1st. Truist Financial cut their target price on Udemy from $15.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. KeyCorp cut their target price on Udemy from $14.00 to $13.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Morgan Stanley cut Udemy from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $10.00 to $7.50 in a research note on Friday, September 27th. Finally, Canaccord Genuity Group started coverage on Udemy in a research note on Thursday, August 8th. They issued a “buy” rating and a $12.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Udemy has an average rating of “Moderate Buy” and an average price target of $11.00.

Udemy Stock Performance

Shares of UDMY opened at $8.04 on Wednesday. The stock has a 50 day simple moving average of $7.95 and a 200 day simple moving average of $8.49. Udemy has a 52-week low of $6.67 and a 52-week high of $16.01. The firm has a market capitalization of $1.21 billion, a PE ratio of -12.76 and a beta of 1.95.

Udemy (NASDAQ:UDMY) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.06. The business had revenue of $195.42 million during the quarter, compared to analyst estimates of $192.69 million. Udemy had a negative return on equity of 26.79% and a negative net margin of 12.33%. Udemy’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.10) EPS. Equities research analysts predict that Udemy will post -0.52 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Gregory Scott Brown sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $8.50, for a total transaction of $85,000.00. Following the transaction, the chief executive officer now directly owns 1,203,727 shares of the company’s stock, valued at approximately $10,231,679.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Sarah Blanchard sold 45,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $8.05, for a total transaction of $362,250.00. Following the transaction, the chief financial officer now directly owns 1,001,761 shares of the company’s stock, valued at approximately $8,064,176.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gregory Scott Brown sold 10,000 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $8.50, for a total value of $85,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,203,727 shares in the company, valued at approximately $10,231,679.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in UDMY. Vanguard Group Inc. grew its holdings in Udemy by 5.6% in the 4th quarter. Vanguard Group Inc. now owns 9,355,870 shares of the company’s stock valued at $137,812,000 after buying an additional 495,380 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Udemy by 18.8% in the 1st quarter. Principal Financial Group Inc. now owns 12,053 shares of the company’s stock valued at $132,000 after buying an additional 1,904 shares in the last quarter. Swiss National Bank grew its holdings in Udemy by 2.2% in the 1st quarter. Swiss National Bank now owns 136,200 shares of the company’s stock valued at $1,495,000 after buying an additional 2,900 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in Udemy in the 1st quarter valued at $350,000. Finally, ProShare Advisors LLC grew its holdings in Udemy by 10.7% in the 1st quarter. ProShare Advisors LLC now owns 16,109 shares of the company’s stock valued at $177,000 after buying an additional 1,553 shares in the last quarter. 79.48% of the stock is owned by institutional investors and hedge funds.

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.