Udemy (NASDAQ:UDMY) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Udemy (NASDAQ:UDMY) had its target price raised by Morgan Stanley from $7.50 to $9.00 in a report issued on Thursday morning,Benzinga reports. The brokerage currently has an underweight rating on the stock.

A number of other equities research analysts have also recently issued reports on UDMY. Canaccord Genuity Group increased their target price on shares of Udemy from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 target price on shares of Udemy in a research note on Friday, February 14th. Scotiabank began coverage on shares of Udemy in a research note on Thursday, December 5th. They set a “sector outperform” rating and a $10.00 price objective on the stock. Finally, Cantor Fitzgerald cut their price target on shares of Udemy from $18.00 to $11.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $10.95.

Udemy Stock Performance

NASDAQ:UDMY opened at $9.78 on Thursday. The company has a 50-day moving average of $8.23 and a 200-day moving average of $8.07. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of -17.16 and a beta of 1.85. Udemy has a 52 week low of $6.67 and a 52 week high of $11.65.

Udemy (NASDAQ:UDMY) last released its quarterly earnings data on Thursday, February 13th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.10). The business had revenue of $199.94 million for the quarter, compared to the consensus estimate of $194.70 million. Udemy had a negative return on equity of 27.93% and a negative net margin of 10.84%. Sell-side analysts forecast that Udemy will post -0.09 EPS for the current 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 shares were sold at an average price of $8.71, for a total value of $87,100.00. Following the completion of the sale, the chief executive officer now owns 1,183,086 shares of the company’s stock, valued at approximately $10,304,679.06. This trade represents a 0.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Ltd Naspers sold 3,200,000 shares of Udemy stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $7.84, for a total transaction of $25,088,000.00. Following the transaction, the insider now directly owns 13,920,840 shares in the company, valued at $109,139,385.60. This represents a 18.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,294,322 shares of company stock valued at $25,946,018 in the last quarter. 3.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Udemy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Point72 DIFC Ltd purchased a new position in shares of Udemy during the third quarter worth about $30,000. SBI Securities Co. Ltd. bought a new position in shares of Udemy during the fourth quarter valued at approximately $31,000. Quarry LP bought a new position in Udemy in the fourth quarter worth $34,000. Vega Investment Solutions purchased a new stake in shares of Udemy in the fourth quarter worth $46,000. Finally, Nisa Investment Advisors LLC boosted its position in shares of Udemy by 496.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 7,220 shares of the company’s stock valued at $59,000 after buying an additional 6,010 shares during the last quarter. 79.48% of the stock is currently owned by 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.