Cantor Fitzgerald Lowers Udemy (NASDAQ:UDMY) Price Target to $11.00

Udemy (NASDAQ:UDMY) had its price objective dropped by research analysts at Cantor Fitzgerald from $18.00 to $11.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Cantor Fitzgerald’s price objective points to a potential upside of 40.31% from the company’s previous close.

Several other research analysts also recently weighed in on UDMY. Canaccord Genuity Group assumed coverage on Udemy in a research note on Thursday, August 8th. They set a “buy” rating and a $12.00 target price on the stock. Canaccord Genuity Group assumed coverage on Udemy in a research note on Thursday, August 8th. They set a “buy” rating and a $12.00 target price on the stock. Needham & Company LLC dropped their target price on Udemy from $15.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday. Morgan Stanley downgraded Udemy from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $10.00 to $7.50 in a research note on Friday, September 27th. Finally, Robert W. Baird dropped their target price on Udemy from $13.00 to $11.00 and set an “outperform” rating on the stock in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $11.00.

Udemy Stock Down 4.0 %

Shares of NASDAQ UDMY opened at $7.84 on Wednesday. The business has a fifty day simple moving average of $7.96 and a two-hundred day simple moving average of $8.51. The firm has a market cap of $1.18 billion, a PE ratio of -12.44 and a beta of 1.97. Udemy has a twelve month low of $6.67 and a twelve month high of $16.01.

Udemy (NASDAQ:UDMY) last announced its quarterly earnings results on Wednesday, July 31st. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.07). Udemy had a negative net margin of 11.39% and a negative return on equity of 26.62%. The company had revenue of $194.36 million during the quarter, compared to analysts’ expectations of $194.17 million. On average, research analysts expect that Udemy will post -0.52 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Gregory Scott Brown sold 10,000 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $8.50, for a total value of $85,000.00. Following the completion of the transaction, the chief executive officer now owns 1,203,727 shares of the company’s stock, valued at approximately $10,231,679.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Udemy news, CFO Sarah Blanchard sold 45,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $8.05, for a total transaction of $362,250.00. Following the completion of the sale, the chief financial officer now directly owns 1,001,761 shares in the company, valued at approximately $8,064,176.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gregory Scott Brown sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $8.50, for a total value of $85,000.00. Following the sale, the chief executive officer now owns 1,203,727 shares of the company’s stock, valued at approximately $10,231,679.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Udemy

Large investors have recently bought and sold shares of the company. Ariadne Wealth Management LP purchased a new stake in Udemy during the 2nd quarter worth approximately $67,000. Quest Partners LLC increased its stake in Udemy by 6,957.5% during the 2nd quarter. Quest Partners LLC now owns 8,963 shares of the company’s stock worth $77,000 after buying an additional 8,836 shares in the last quarter. Natixis increased its stake in Udemy by 60.8% during the 1st quarter. Natixis now owns 8,967 shares of the company’s stock worth $99,000 after buying an additional 3,391 shares in the last quarter. XTX Topco Ltd purchased a new stake in Udemy during the 2nd quarter worth approximately $93,000. Finally, Principal Financial Group Inc. increased its stake in Udemy by 18.8% during the 1st quarter. Principal Financial Group Inc. now owns 12,053 shares of the company’s stock worth $132,000 after buying an additional 1,904 shares in the last quarter. 79.48% of the stock is currently owned by hedge funds and other 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.