Udemy (NASDAQ:UDMY) Price Target Lowered to $13.00 at Morgan Stanley

Udemy (NASDAQ:UDMY) had its target price lowered by Morgan Stanley from $15.00 to $13.00 in a research note issued to investors on Friday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Several other brokerages have also recently weighed in on UDMY. Robert W. Baird increased their price target on Udemy from $15.00 to $17.00 and gave the company an outperform rating in a research note on Thursday, February 15th. Cantor Fitzgerald reaffirmed an overweight rating and set a $20.00 target price on shares of Udemy in a research note on Thursday, February 15th. Piper Sandler reaffirmed a neutral rating and set a $13.00 target price on shares of Udemy in a research note on Thursday, February 15th. KeyCorp raised their target price on Udemy from $13.00 to $15.00 and gave the stock an overweight rating in a research note on Friday, January 12th. Finally, JPMorgan Chase & Co. raised their target price on Udemy from $11.00 to $12.00 and gave the stock a neutral rating in a research note on Thursday, February 15th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $14.78.

Udemy Trading Down 0.9 %

Shares of UDMY stock opened at $9.92 on Friday. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of -13.78 and a beta of 2.14. The stock has a 50-day moving average of $11.08 and a 200-day moving average of $12.26. Udemy has a 1-year low of $8.17 and a 1-year high of $16.01.

Udemy (NASDAQ:UDMY) last issued its quarterly 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. 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 27.31% and a negative net margin of 14.72%. Sell-side analysts forecast that Udemy will post -0.47 earnings per share for the current year.

Insider Buying and Selling at Udemy

In other news, CTO Venu Venugopal sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $13.79, for a total value of $55,160.00. Following the transaction, the chief technology officer now owns 352,013 shares in the company, valued at $4,854,259.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CTO Venu Venugopal sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $13.79, for a total value of $55,160.00. Following the transaction, the chief technology officer now owns 352,013 shares in the company, valued at $4,854,259.27. The transaction was disclosed in a 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 firm’s 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 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 50,981 shares of company stock valued at $570,044. Company insiders own 6.20% of the company’s stock.

Institutional Trading of Udemy

A number of hedge funds have recently bought and sold shares of UDMY. Vanguard Group Inc. increased its position in Udemy by 19.3% in the third quarter. Vanguard Group Inc. now owns 8,860,490 shares of the company’s stock worth $84,175,000 after buying an additional 1,433,980 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Udemy by 21.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 666,116 shares of the company’s stock worth $6,328,000 after buying an additional 117,846 shares during the last quarter. AlpInvest Partners B.V. purchased a new stake in Udemy in the fourth quarter worth $1,514,000. SG Americas Securities LLC increased its position in Udemy by 317.5% in the fourth quarter. SG Americas Securities LLC now owns 41,883 shares of the company’s stock worth $617,000 after buying an additional 31,850 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased 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 worth $125,000 after buying an additional 2,880 shares during the last quarter. 79.48% of the stock is currently owned by institutional investors.

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.