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

Udemy (NASDAQ:UDMY) had its target price cut by KeyCorp from $14.00 to $13.00 in a research report sent to investors on Monday morning, Benzinga reports. They currently have an overweight rating on the stock.

Other equities analysts have also recently issued reports about the stock. Robert W. Baird decreased their target price on shares of Udemy from $15.00 to $13.00 and set an outperform rating for the company in a research note on Friday, May 3rd. Needham & Company LLC reiterated a buy rating and set a $15.00 target price on shares of Udemy in a research note on Friday, May 3rd. Jefferies Financial Group dropped their price target on Udemy from $14.00 to $11.00 and set a hold rating on the stock in a research note on Monday, April 29th. Morgan Stanley cut their price target on Udemy from $15.00 to $13.00 and set an equal weight rating for the company in a report on Friday, April 19th. Finally, Cantor Fitzgerald reiterated an overweight rating and issued a $20.00 price objective on shares of Udemy in a report on Friday, May 3rd. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Udemy currently has a consensus rating of Moderate Buy and a consensus price target of $13.80.

Udemy Price Performance

NASDAQ UDMY opened at $8.46 on Monday. Udemy has a one year low of $7.91 and a one year high of $16.01. The firm has a market cap of $1.30 billion, a P/E ratio of -15.96 and a beta of 2.00. The stock’s 50-day moving average is $8.69 and its 200-day moving average is $10.56.

Udemy (NASDAQ:UDMY) last released its earnings results on Thursday, May 2nd. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.02. The firm had revenue of $196.85 million during the quarter, compared to analysts’ expectations of $194.83 million. Udemy had a negative return on equity of 23.10% and a negative net margin of 10.82%. Equities analysts anticipate that Udemy will post -0.45 EPS for the current year.

Insider Activity

In related news, CEO Gregory Scott Brown sold 10,000 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $8.50, for a total value of $85,000.00. Following the transaction, the chief executive officer now directly owns 1,273,406 shares in the company, valued at approximately $10,823,951. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Gregory Scott Brown sold 10,000 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $8.50, for a total value of $85,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,273,406 shares of the company’s stock, valued at $10,823,951. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Venu Venugopal sold 7,086 shares of the firm’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $9.89, for a total value of $70,080.54. Following the transaction, the chief technology officer now owns 429,927 shares in the company, valued at $4,251,978.03. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 64,486 shares of company stock worth $604,441. Company insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Udemy

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of Udemy by 19.3% during the 3rd quarter. Vanguard Group Inc. now owns 8,860,490 shares of the company’s stock valued at $84,175,000 after buying an additional 1,433,980 shares during the last quarter. SG Americas Securities LLC lifted its holdings in Udemy by 317.5% during the fourth quarter. SG Americas Securities LLC now owns 41,883 shares of the company’s stock valued at $617,000 after purchasing an additional 31,850 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in Udemy during the fourth quarter worth about $3,057,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Udemy by 5.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,903 shares of the company’s stock worth $205,000 after purchasing an additional 732 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its position in shares of Udemy by 261.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 4,730 shares of the company’s stock valued at $70,000 after purchasing an additional 3,420 shares during the period. 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.