Cantor Fitzgerald Reiterates Overweight Rating for Udemy (NASDAQ:UDMY)

Udemy (NASDAQ:UDMY)‘s stock had its “overweight” rating restated by equities researchers at Cantor Fitzgerald in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $20.00 target price on the stock. Cantor Fitzgerald’s target price would suggest a potential upside of 97.43% from the stock’s previous close.

UDMY has been the subject of a number of other reports. JPMorgan Chase & Co. upped their price objective on shares of Udemy from $11.00 to $12.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. Jefferies Financial Group cut their price objective on shares of Udemy from $14.00 to $11.00 and set a “hold” rating on the stock in a report on Monday, April 29th. 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 report on Friday. Piper Sandler reiterated a “neutral” rating and issued a $13.00 price target on shares of Udemy in a report on Thursday, February 15th. Finally, KeyCorp upped their price objective on Udemy from $13.00 to $15.00 and gave the stock an “overweight” rating in a research note on Friday, January 12th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Udemy has an average rating of “Moderate Buy” and an average target price of $13.90.

Udemy Price Performance

Shares of UDMY opened at $10.13 on Friday. The firm has a fifty day moving average price of $10.65 and a 200-day moving average price of $12.32. Udemy has a 12-month low of $8.17 and a 12-month high of $16.01.

Udemy (NASDAQ:UDMY) last released its quarterly earnings data on Wednesday, February 14th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.04. The company had revenue of $189.55 million during the quarter, compared to analysts’ expectations of $185.71 million. Udemy had a negative net margin of 10.82% and a negative return on equity of 22.29%. On average, sell-side analysts anticipate that Udemy will post -0.47 earnings per share for the current fiscal year.

Insider Activity at Udemy

In other Udemy news, CTO Venu Venugopal sold 6,981 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $10.82, for a total value of $75,534.42. Following the completion of the sale, the chief technology officer now directly owns 334,319 shares in the company, valued at $3,617,331.58. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Udemy news, CTO Venu Venugopal sold 6,981 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $10.82, for a total transaction of $75,534.42. Following the sale, the chief technology officer now owns 334,319 shares of the company’s stock, valued at approximately $3,617,331.58. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Gregory Scott Brown sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $11.04, for a total transaction of $110,400.00. Following the transaction, the chief executive officer now owns 1,163,328 shares in the company, valued at approximately $12,843,141.12. The disclosure for this sale can be found here. Insiders have sold 46,981 shares of company stock valued at $514,884 in the last ninety days. Corporate insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Udemy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sea Cliff Partners Management LP acquired a new position in shares of Udemy in the fourth quarter valued at about $25,661,000. Inflection Point Investments LLP purchased a new stake in Udemy in the fourth quarter valued at approximately $21,390,000. Vanguard Group Inc. increased its holdings in Udemy by 19.3% in the 3rd quarter. Vanguard Group Inc. now owns 8,860,490 shares of the company’s stock worth $84,175,000 after buying an additional 1,433,980 shares during the period. Pathway Capital Management LP purchased a new position in Udemy during the 4th quarter worth approximately $3,983,000. Finally, Federated Hermes Inc. acquired a new stake in Udemy during the 4th quarter valued at approximately $3,303,000. Hedge funds and other 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.