Cantor Fitzgerald Reaffirms “Overweight” Rating for Udemy (NASDAQ:UDMY)

Udemy (NASDAQ:UDMY)‘s stock had its “overweight” rating restated by stock analysts at Cantor Fitzgerald in a research report issued on Friday, Benzinga reports. They currently have a $20.00 price objective on the stock. Cantor Fitzgerald’s price target indicates a potential upside of 97.43% from the stock’s current price.

A number of other analysts have also recently weighed in on the stock. Piper Sandler reiterated a “neutral” rating and set a $13.00 price target on shares of Udemy in a research note on Thursday, February 15th. JPMorgan Chase & Co. increased their target price on shares of Udemy from $11.00 to $12.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. Robert W. Baird dropped their price target on Udemy from $15.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday. Morgan Stanley decreased their price objective on Udemy from $15.00 to $13.00 and set an “equal weight” rating for the company in a research report on Friday, April 19th. Finally, Jefferies Financial Group dropped their target price on Udemy from $14.00 to $11.00 and set a “hold” rating on the stock in a report on Monday, April 29th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Udemy has a consensus rating of “Moderate Buy” and a consensus target price of $13.90.

Udemy Trading Up 2.4 %

UDMY opened at $10.13 on Friday. The business’s 50-day simple moving average is $10.65 and its 200-day simple moving average is $12.32. Udemy has a one year low of $8.17 and a one year high of $16.01.

Udemy (NASDAQ:UDMY) last announced its quarterly earnings results on Wednesday, February 14th. The company reported ($0.12) earnings per share for the quarter, beating 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 firm had revenue of $189.55 million during the quarter, compared to analysts’ expectations of $185.71 million. On average, analysts expect that Udemy will post -0.47 earnings per share for the current year.

Insider Buying and Selling

In other news, 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 transaction of $110,400.00. Following the transaction, the chief executive officer now directly owns 1,163,328 shares of the company’s stock, valued at approximately $12,843,141.12. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Eren Bali sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was 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 in the company, valued at approximately $18,386,268.50. 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 Udemy stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $11.04, for a total value of $110,400.00. Following the transaction, the chief executive officer now directly 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. Insiders have sold 46,981 shares of company stock valued at $514,884 over the last quarter. Company insiders own 3.20% of the company’s stock.

Institutional Trading of Udemy

Large investors have recently bought and sold shares of the company. Venturi Wealth Management LLC purchased a new stake in shares of Udemy in the 3rd quarter worth about $29,000. Daiwa Securities Group Inc. raised its position in Udemy by 261.1% during the fourth quarter. Daiwa Securities Group Inc. now owns 4,730 shares of the company’s stock worth $70,000 after acquiring an additional 3,420 shares during the last quarter. RIA Advisory Group LLC purchased a new stake in shares of Udemy in the fourth quarter valued at about $76,000. SG Americas Securities LLC acquired a new stake in shares of Udemy in the third quarter valued at approximately $95,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Udemy by 28.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,171 shares of the company’s stock worth $125,000 after purchasing an additional 2,880 shares in the last quarter. Institutional investors and hedge funds 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.