Morgan Stanley Cuts Udemy (NASDAQ:UDMY) Price Target to $7.00

Udemy (NASDAQ:UDMY) had its target price reduced by Morgan Stanley from $9.00 to $7.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “underweight” rating on the stock. Morgan Stanley’s target price would indicate a potential upside of 14.10% from the company’s current price.

Other equities research analysts have also issued reports about the stock. Canaccord Genuity Group lifted their price target on shares of Udemy from $12.00 to $14.00 and gave the company a “buy” rating in a report on Friday, February 14th. Truist Financial reaffirmed a “hold” rating and set a $7.00 target price (down previously from $10.00) on shares of Udemy in a research note on Monday, April 7th. William Blair downgraded Udemy from an “outperform” rating to a “market perform” rating in a report on Wednesday, March 12th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 target price on shares of Udemy in a report on Wednesday, March 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Udemy presently has an average rating of “Moderate Buy” and a consensus target price of $10.50.

Udemy Stock Performance

Shares of UDMY stock opened at $6.14 on Wednesday. Udemy has a fifty-two week low of $5.68 and a fifty-two week high of $11.60. The stock’s fifty day moving average price is $8.23 and its two-hundred day moving average price is $8.11. The company has a market cap of $910.96 million, a PE ratio of -10.76 and a beta of 1.81.

Udemy (NASDAQ:UDMY) last released its quarterly earnings data on Thursday, February 13th. The company reported ($0.03) earnings per share 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 analyst estimates of $194.70 million. Udemy had a negative net margin of 10.84% and a negative return on equity of 27.93%. On average, equities analysts predict that Udemy will post -0.09 EPS for the current fiscal year.

Insiders Place Their Bets

In other Udemy news, major shareholder Ltd Naspers sold 3,200,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $7.84, for a total transaction of $25,088,000.00. Following the completion of the transaction, the insider now owns 13,920,840 shares in the company, valued at approximately $109,139,385.60. This trade represents a 18.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Eren Bali sold 10,000 shares of the company’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $8.02, for a total transaction of $80,200.00. Following the completion of the sale, the chief technology officer now directly owns 2,146,050 shares in the company, valued at approximately $17,211,321. This represents a 0.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,305,168 shares of company stock valued at $26,040,186. 3.20% of the stock is currently owned by company insiders.

Institutional Trading of Udemy

A number of large investors have recently bought and sold shares of the business. SBI Securities Co. Ltd. acquired a new position in shares of Udemy in the 4th quarter valued at about $31,000. Quarry LP acquired a new position in Udemy in the fourth quarter valued at approximately $34,000. Vega Investment Solutions acquired a new position in Udemy in the fourth quarter valued at approximately $46,000. GAMMA Investing LLC boosted its holdings in shares of Udemy by 558.3% during the 1st quarter. GAMMA Investing LLC now owns 6,945 shares of the company’s stock worth $54,000 after buying an additional 5,890 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its position in shares of Udemy by 496.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 7,220 shares of the company’s stock worth $59,000 after buying an additional 6,010 shares during the period. 79.48% of the stock is currently owned by institutional investors and hedge funds.

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.