Udemy (NASDAQ:UDMY) Given New $7.00 Price Target at Morgan Stanley

Udemy (NASDAQ:UDMY) had its target price cut by Morgan Stanley from $9.00 to $7.00 in a research report released on Wednesday morning,Benzinga reports. They currently have an underweight rating on the stock.

A number of other research analysts have also commented on UDMY. Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 price target on shares of Udemy in a research report on Wednesday, March 12th. William Blair downgraded Udemy from an “outperform” rating to a “market perform” rating in a report on Wednesday, March 12th. Truist Financial reiterated a “hold” rating and issued a $7.00 price target (down previously from $10.00) on shares of Udemy in a report on Monday, April 7th. Finally, Canaccord Genuity Group boosted their price objective on shares of Udemy from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $10.50.

Udemy Stock Down 1.6 %

Shares of NASDAQ UDMY opened at $6.11 on Wednesday. The firm’s fifty day moving average is $8.26 and its 200 day moving average is $8.11. Udemy has a 52 week low of $5.68 and a 52 week high of $11.60. The company has a market cap of $907.24 million, a price-to-earnings ratio of -10.72 and a beta of 1.81.

Udemy (NASDAQ:UDMY) last released its quarterly earnings data on Thursday, February 13th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.10). The firm had revenue of $199.94 million during 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 27.93%. Equities research analysts anticipate that Udemy will post -0.09 earnings per share for the current year.

Insider Transactions at Udemy

In other news, CTO Eren Bali sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $8.02, for a total value of $80,200.00. Following the sale, the chief technology officer now directly owns 2,146,050 shares of the company’s stock, valued at $17,211,321. The trade was a 0.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Ltd Naspers sold 3,200,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $7.84, for a total value of $25,088,000.00. Following the completion of the sale, the insider now owns 13,920,840 shares in the company, valued at $109,139,385.60. The trade was a 18.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,305,168 shares of company stock valued at $26,040,186 in the last three months. 3.20% of the stock is currently owned by company insiders.

Institutional Trading of Udemy

A number of institutional investors and hedge funds have recently bought and sold shares of UDMY. Barclays PLC increased its position in shares of Udemy by 360.6% during the third quarter. Barclays PLC now owns 155,719 shares of the company’s stock valued at $1,158,000 after acquiring an additional 121,911 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Udemy in the fourth quarter worth $31,000. JPMorgan Chase & Co. lifted its holdings in shares of Udemy by 26.2% during the third quarter. JPMorgan Chase & Co. now owns 198,387 shares of the company’s stock valued at $1,476,000 after purchasing an additional 41,145 shares in the last quarter. State Street Corp boosted its position in shares of Udemy by 0.8% during the third quarter. State Street Corp now owns 1,934,473 shares of the company’s stock valued at $14,392,000 after buying an additional 15,339 shares during the last quarter. Finally, Cornerstone Investment Partners LLC bought a new stake in Udemy in the 4th quarter worth about $219,000. 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.