Udemy (NASDAQ:UDMY) Given New $9.00 Price Target at Morgan Stanley

Udemy (NASDAQ:UDMY) had its target price boosted by Morgan Stanley from $7.50 to $9.00 in a research note issued to investors on Thursday,Benzinga reports. Morgan Stanley currently has an underweight rating on the stock.

Other equities analysts have also recently issued research reports about the company. Cantor Fitzgerald cut their price target on Udemy from $18.00 to $11.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Scotiabank initiated coverage on Udemy in a research note on Thursday, December 5th. They issued a “sector outperform” rating and a $10.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Udemy in a research note on Friday, February 14th. Finally, Canaccord Genuity Group raised their price target on Udemy from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.95.

Udemy Price Performance

NASDAQ UDMY opened at $9.80 on Thursday. The stock has a market capitalization of $1.43 billion, a PE ratio of -17.19 and a beta of 1.85. The business has a 50 day simple moving average of $8.19 and a two-hundred day simple moving average of $8.04. Udemy has a 1-year low of $6.67 and a 1-year high of $11.65.

Udemy (NASDAQ:UDMY) last released its quarterly earnings results on Thursday, February 13th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.10). The firm had revenue of $199.94 million for the quarter, compared to analysts’ expectations of $194.70 million. Udemy had a negative net margin of 10.84% and a negative return on equity of 26.50%. On average, analysts anticipate that Udemy will post -0.2 EPS for the current fiscal year.

Insider Buying and Selling at Udemy

In other news, CEO Gregory Scott Brown sold 10,000 shares of Udemy stock in a transaction on Friday, December 6th. The stock was sold at an average price of $8.71, for a total value of $87,100.00. Following the transaction, the chief executive officer now directly owns 1,183,086 shares in the company, valued at approximately $10,304,679.06. This trade represents a 0.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Ltd Naspers sold 3,200,000 shares of Udemy stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $7.84, for a total value of $25,088,000.00. Following the completion of the transaction, the insider now owns 13,920,840 shares in the company, valued at $109,139,385.60. This represents a 18.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,294,322 shares of company stock valued at $25,946,018 in the last ninety days. Corporate insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vega Investment Solutions purchased a new position in Udemy during the 4th quarter worth $46,000. PharVision Advisers LLC purchased a new position in Udemy during the 4th quarter worth $144,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Udemy by 17.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 181,864 shares of the company’s stock worth $1,497,000 after buying an additional 27,673 shares during the last quarter. Voloridge Investment Management LLC grew its stake in Udemy by 11.5% during the 4th quarter. Voloridge Investment Management LLC now owns 254,072 shares of the company’s stock worth $2,091,000 after buying an additional 26,289 shares during the last quarter. Finally, Wexford Capital LP purchased a new position in Udemy during the 4th quarter worth $99,000. 79.48% of the stock is currently owned by hedge funds and other institutional investors.

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.