Cantor Fitzgerald Issues Pessimistic Forecast for Udemy (NASDAQ:UDMY) Stock Price

Udemy (NASDAQ:UDMY) had its price target trimmed by Cantor Fitzgerald from $11.00 to $9.00 in a research report released on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other research firms have also commented on UDMY. Robert W. Baird reduced their price target on shares of Udemy from $13.00 to $11.00 and set an “outperform” rating on the stock in a research report on Thursday. Truist Financial reaffirmed a “hold” rating and set a $7.00 price target (down previously from $10.00) on shares of Udemy in a research report on Monday, April 7th. JPMorgan Chase & Co. reduced their price target on shares of Udemy from $11.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, April 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 price target on shares of Udemy in a research report on Thursday. Finally, Morgan Stanley cut their target price on Udemy from $9.00 to $7.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Udemy currently has a consensus rating of “Moderate Buy” and an average target price of $9.86.

Udemy Price Performance

Shares of Udemy stock opened at $6.42 on Thursday. The stock has a market cap of $954.85 million, a P/E ratio of -11.26 and a beta of 1.81. The stock’s 50 day simple moving average is $7.69 and its 200-day simple moving average is $8.04. Udemy has a 1-year low of $5.68 and a 1-year high of $11.60.

Udemy (NASDAQ:UDMY) last issued its earnings results on Wednesday, April 30th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.02. The business had revenue of $200.30 million for the quarter, compared to analysts’ expectations of $197.19 million. Udemy had a negative return on equity of 27.93% and a negative net margin of 10.84%. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.03 EPS. As a group, research analysts expect that Udemy will post -0.09 EPS for the current fiscal year.

Insider Transactions at Udemy

In related news, Director Heather Hiles sold 14,840 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $9.81, for a total transaction of $145,580.40. Following the completion of the transaction, the director now owns 42,667 shares in the company, valued at approximately $418,563.27. The trade was a 25.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Eren Bali sold 69,482 shares of the business’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $9.00, for a total transaction of $625,338.00. Following the transaction, the chief technology officer now owns 2,156,050 shares of the company’s stock, valued at approximately $19,404,450. The trade was a 3.12 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 105,168 shares of company stock valued at $952,186. 3.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Udemy

A number of institutional investors and hedge funds have recently modified their holdings of UDMY. SBI Securities Co. Ltd. acquired a new position in shares of Udemy during the fourth quarter worth $31,000. Quarry LP acquired a new position in shares of Udemy during the fourth quarter worth $34,000. Vega Investment Solutions acquired a new position in shares of Udemy during the fourth quarter worth $46,000. GAMMA Investing LLC grew its stake in shares of Udemy by 558.3% during the first quarter. GAMMA Investing LLC now owns 6,945 shares of the company’s stock worth $54,000 after purchasing an additional 5,890 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in shares of Udemy by 496.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 7,220 shares of the company’s stock worth $59,000 after purchasing an additional 6,010 shares in the last quarter. Institutional investors and hedge funds 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.