Udemy (NASDAQ:UDMY) Given New $13.00 Price Target at Morgan Stanley

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

Other equities research analysts have also issued research reports about the company. JPMorgan Chase & Co. increased their target price on Udemy from $11.00 to $12.00 and gave the company a neutral rating in a research note on Thursday, February 15th. Piper Sandler restated a neutral rating and set a $13.00 price objective on shares of Udemy in a research note on Thursday, February 15th. Truist Financial raised their price objective on Udemy from $13.00 to $15.00 and gave the company a buy rating in a research note on Monday, January 22nd. KeyCorp raised their price objective on Udemy from $13.00 to $15.00 and gave the company an overweight rating in a research note on Friday, January 12th. Finally, TheStreet lowered Udemy from a c- rating to a d+ rating in a research note on Wednesday, March 6th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $14.78.

Udemy Stock Performance

Udemy stock opened at $10.22 on Friday. Udemy has a fifty-two week low of $8.17 and a fifty-two week high of $16.01. The stock’s fifty day moving average is $10.99 and its two-hundred day moving average is $12.31. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of -13.78 and a beta of 2.14.

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 the consensus estimate of ($0.16) by $0.04. Udemy had a negative return on equity of 27.31% and a negative net margin of 14.72%. The business had revenue of $189.55 million for the quarter, compared to the consensus estimate of $185.71 million. As a group, sell-side analysts forecast that Udemy will post -0.47 EPS for the current fiscal year.

Insider Activity

In other news, CTO Venu Venugopal sold 4,000 shares of Udemy stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $13.79, for a total transaction of $55,160.00. Following the transaction, the chief technology officer now directly owns 352,013 shares in the company, valued at approximately $4,854,259.27. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CTO Venu Venugopal sold 4,000 shares of Udemy stock in a transaction 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 directly owns 352,013 shares in the company, valued at approximately $4,854,259.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eren Bali sold 15,000 shares of Udemy stock in a transaction 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 completion of the transaction, the director now owns 1,676,050 shares in the company, valued at $18,386,268.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 50,981 shares of company stock worth $570,044. 3.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of UDMY. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Udemy by 5.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,903 shares of the company’s stock valued at $205,000 after purchasing an additional 732 shares during the last quarter. Swiss National Bank boosted its position in Udemy by 2.0% during the third quarter. Swiss National Bank now owns 145,200 shares of the company’s stock valued at $1,379,000 after purchasing an additional 2,800 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Udemy by 28.0% during 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 during the last quarter. Venturi Wealth Management LLC acquired a new stake in shares of Udemy in the third quarter worth about $29,000. Finally, Daiwa Securities Group Inc. lifted 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 worth $70,000 after buying an additional 3,420 shares during the last quarter. Hedge funds and other institutional investors 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.