Udemy (NASDAQ:UDMY) Price Target Cut to $13.00 by Analysts at KeyCorp

Udemy (NASDAQ:UDMY) had its price target lowered by KeyCorp from $14.00 to $13.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other brokerages also recently weighed in on UDMY. Needham & Company LLC reaffirmed a buy rating and issued a $15.00 target price on shares of Udemy in a report on Friday, May 3rd. Robert W. Baird lowered their target price on Udemy from $15.00 to $13.00 and set an outperform rating for the company in a research note on Friday, May 3rd. Cantor Fitzgerald restated an overweight rating and issued a $20.00 price target on shares of Udemy in a research note on Friday, May 3rd. Jefferies Financial Group lowered their price objective on shares of Udemy from $14.00 to $11.00 and set a hold rating for the company in a research report on Monday, April 29th. Finally, Morgan Stanley cut their target price on shares of Udemy from $15.00 to $13.00 and set an equal weight rating on the stock in a research report on Friday, April 19th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $13.80.

Udemy Stock Up 0.7 %

UDMY opened at $8.52 on Monday. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of -15.96 and a beta of 2.00. Udemy has a twelve month low of $7.91 and a twelve month high of $16.01. The company has a 50-day simple moving average of $8.66 and a 200 day simple moving average of $10.54.

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

Insider Transactions at Udemy

In related news, CTO Venu Venugopal sold 7,086 shares of the firm’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $9.89, for a total transaction of $70,080.54. Following the completion of the transaction, the chief technology officer now directly owns 429,927 shares of the company’s stock, valued at approximately $4,251,978.03. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Gregory Scott Brown sold 10,000 shares of Udemy 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 transaction, the chief executive officer now directly owns 1,273,406 shares of the company’s stock, valued at $10,823,951. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Venu Venugopal sold 7,086 shares of the stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $9.89, for a total transaction of $70,080.54. Following the sale, the chief technology officer now directly owns 429,927 shares of the company’s stock, valued at approximately $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.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Sea Cliff Partners Management LP acquired a new position in Udemy in the fourth quarter valued at $25,661,000. Inflection Point Investments LLP acquired a new position in shares of Udemy in the 4th quarter valued at about $21,390,000. Vanguard Group Inc. boosted 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 purchasing an additional 1,433,980 shares in the last quarter. Silvercrest Asset Management Group LLC acquired a new stake in Udemy during the first quarter worth approximately $8,109,000. Finally, Invenomic Capital Management LP increased its holdings in Udemy by 22.9% in the first quarter. Invenomic Capital Management LP now owns 2,747,453 shares of the company’s stock worth $30,167,000 after purchasing an additional 512,618 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.