Udemy (NASDAQ:UDMY) Price Target Cut to $14.00 by Analysts at KeyCorp

Udemy (NASDAQ:UDMY) had its price target reduced by KeyCorp from $15.00 to $14.00 in a research report released on Friday morning, Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts have also weighed in on the stock. Jefferies Financial Group dropped their price objective on shares of Udemy from $14.00 to $11.00 and set a hold rating for the company in a report on Monday, April 29th. Robert W. Baird reduced their price objective on Udemy from $15.00 to $13.00 and set an outperform rating on the stock in a research note on Friday. Piper Sandler reaffirmed a neutral rating and issued a $13.00 price target on shares of Udemy in a report on Thursday, February 15th. Truist Financial increased their price objective on shares of Udemy from $13.00 to $15.00 and gave the stock a buy rating in a report on Monday, January 22nd. Finally, Needham & Company LLC reaffirmed a buy rating and issued a $15.00 target price on shares of Udemy in a research note on Friday. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $13.90.

Udemy Price Performance

Shares of Udemy stock traded up $0.24 during midday trading on Friday, hitting $10.13. 3,323,869 shares of the company were exchanged, compared to its average volume of 697,696. The firm has a 50 day simple moving average of $10.65 and a 200-day simple moving average of $12.30. Udemy has a 52 week low of $8.17 and a 52 week 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. The company had revenue of $189.55 million during the quarter, compared to analysts’ expectations of $185.71 million. Udemy had a negative return on equity of 22.29% and a negative net margin of 10.82%. On average, sell-side analysts forecast that Udemy will post -0.47 EPS for the current fiscal year.

Insider Activity at Udemy

In other Udemy news, CEO Gregory Scott Brown sold 10,000 shares of Udemy stock in a transaction that occurred 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 transaction, the chief executive officer now owns 1,163,328 shares of the company’s stock, valued at $12,843,141.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Udemy news, CEO Gregory Scott Brown sold 10,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 1,163,328 shares in the company, valued at approximately $12,843,141.12. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Eren Bali sold 15,000 shares of Udemy stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $10.97, for a total value of $164,550.00. Following the completion of the sale, the director now directly owns 1,676,050 shares in the company, valued at approximately $18,386,268.50. The disclosure for this sale can be found here. In the last three months, insiders sold 46,981 shares of company stock worth $514,884. 3.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Udemy

A number of large investors have recently bought and sold shares of UDMY. SG Americas Securities LLC acquired a new stake in shares of Udemy in the third quarter valued at approximately $95,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Udemy by 28.0% in the third 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. Mirae Asset Global Investments Co. Ltd. increased its stake in Udemy by 37.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 51,781 shares of the company’s stock valued at $492,000 after buying an additional 14,034 shares during the last quarter. Venturi Wealth Management LLC bought a new stake in Udemy during the 3rd quarter worth about $29,000. Finally, Versor Investments LP acquired a new position in shares of Udemy during the 3rd quarter worth about $230,000. Institutional investors and hedge funds own 79.48% of the company’s stock.

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.