Udemy (NASDAQ:UDMY) Given New $9.00 Price Target at Morgan Stanley

Udemy (NASDAQ:UDMY) had its price objective lifted by research analysts at Morgan Stanley from $7.50 to $9.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Morgan Stanley’s price target suggests a potential downside of 8.21% from the stock’s previous close.

Several other equities research analysts have also recently commented on the company. Cantor Fitzgerald dropped their price objective on Udemy from $18.00 to $11.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Scotiabank assumed coverage on shares of Udemy in a report on Thursday, December 5th. They set a “sector outperform” rating and a $10.00 price target on the stock. 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 report on Friday, February 14th. Finally, Needham & Company LLC restated a “buy” rating and set a $11.00 price objective on shares of Udemy in a research report on Friday, February 14th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Udemy presently has an average rating of “Moderate Buy” and a consensus price target of $10.95.

Udemy Stock Down 2.9 %

Shares of NASDAQ UDMY traded down $0.30 during midday trading on Thursday, hitting $9.81. The stock had a trading volume of 300,702 shares, compared to its average volume of 1,011,625. The business’s 50 day moving average is $8.16 and its 200-day moving average is $8.03. Udemy has a 52 week low of $6.67 and a 52 week high of $11.65. The company has a market cap of $1.43 billion, a P/E ratio of -17.24 and a beta of 1.85.

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 the consensus estimate of $0.07 by ($0.10). The business had revenue of $199.94 million during the quarter, compared to the consensus estimate of $194.70 million. Udemy had a negative net margin of 10.84% and a negative return on equity of 26.50%. As a group, analysts expect that Udemy will post -0.2 EPS for the current fiscal year.

Insider Transactions at Udemy

In related news, CEO Gregory Scott Brown sold 10,000 shares of Udemy stock in a transaction on Friday, December 6th. The stock was sold at an average price of $8.71, for a total transaction of $87,100.00. Following the transaction, the chief executive officer now directly owns 1,183,086 shares in the company, valued at approximately $10,304,679.06. The trade was a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Heather Hiles sold 14,840 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $9.81, for a total value of $145,580.40. Following the sale, the director now directly owns 42,667 shares of the company’s stock, valued at $418,563.27. This represents a 25.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,294,322 shares of company stock worth $25,946,018 in the last 90 days. 3.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Udemy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC boosted its position in shares of Udemy by 360.6% in the third quarter. Barclays PLC now owns 155,719 shares of the company’s stock worth $1,158,000 after purchasing an additional 121,911 shares during the period. Verition Fund Management LLC bought a new position in Udemy in the 3rd quarter worth $1,630,000. Algert Global LLC increased its stake in Udemy by 45.0% in the 3rd quarter. Algert Global LLC now owns 346,062 shares of the company’s stock worth $2,575,000 after buying an additional 107,390 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Udemy by 106.5% during the third quarter. Assenagon Asset Management S.A. now owns 242,791 shares of the company’s stock valued at $1,806,000 after acquiring an additional 125,235 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in 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 acquiring an additional 41,145 shares during the period. 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.