Robert W. Baird Trims Udemy (NASDAQ:UDMY) Target Price to $13.00

Udemy (NASDAQ:UDMY) had its price objective reduced by Robert W. Baird from $15.00 to $13.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have an outperform rating on the stock.

Several other analysts also recently issued reports on UDMY. Jefferies Financial Group cut their target price on shares of Udemy from $14.00 to $11.00 and set a hold rating on the stock in a research note on Monday, April 29th. Truist Financial increased their price objective on Udemy from $13.00 to $15.00 and gave the stock a buy rating in a research note on Monday, January 22nd. Morgan Stanley lowered their target price on Udemy from $15.00 to $13.00 and set an equal weight rating on the stock in a research note on Friday, April 19th. KeyCorp increased their price target on shares of Udemy from $13.00 to $15.00 and gave the stock an overweight rating in a research report on Friday, January 12th. Finally, TheStreet downgraded shares of Udemy from a c- rating to a d+ rating in a research report on Wednesday, March 6th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Udemy presently has an average rating of Moderate Buy and an average price target of $13.90.

Udemy Stock Up 0.6 %

Shares of NASDAQ UDMY opened at $10.19 on Friday. Udemy has a 12 month low of $8.46 and a 12 month high of $16.01. The company has a market cap of $1.56 billion, a price-to-earnings ratio of -19.23 and a beta of 2.12. The business has a fifty day simple moving average of $10.63 and a 200-day simple moving average of $12.34.

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

Insiders Place Their Bets

In other news, Director Eren Bali sold 15,000 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $10.96, for a total transaction of $164,400.00. Following the transaction, the director now owns 1,661,050 shares in the company, valued at approximately $18,205,108. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Eren Bali sold 15,000 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $10.96, for a total transaction of $164,400.00. Following the completion of the sale, the director now owns 1,661,050 shares in the company, valued at approximately $18,205,108. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CTO Venu Venugopal sold 6,981 shares of the firm’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 value of $75,534.42. Following the completion of the transaction, the chief technology officer now directly owns 334,319 shares in the company, valued at $3,617,331.58. The disclosure for this sale can be found here. Insiders sold 46,981 shares of company stock valued at $514,884 over the last ninety days. Corporate insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Udemy

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