Cantor Fitzgerald Cuts Udemy (NASDAQ:UDMY) Price Target to $11.00

Udemy (NASDAQ:UDMY) had its price target reduced by equities research analysts at Cantor Fitzgerald from $18.00 to $11.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Cantor Fitzgerald’s price target would indicate a potential upside of 31.74% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. Robert W. Baird lowered their target price on shares of Udemy from $13.00 to $11.00 and set an “outperform” rating on the stock in a research report on Thursday, August 1st. Bank of America downgraded Udemy from a “buy” rating to a “neutral” rating and set a $8.50 price target on the stock. in a research report on Thursday, August 1st. Canaccord Genuity Group started coverage on Udemy in a research report on Thursday, August 8th. They issued a “buy” rating and a $12.00 price target on the stock. Canaccord Genuity Group started coverage on Udemy in a research report on Thursday, August 8th. They issued a “buy” rating and a $12.00 price target on the stock. Finally, KeyCorp lowered their price target on Udemy from $14.00 to $13.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Udemy presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.00.

Udemy Stock Down 1.3 %

Shares of UDMY traded down $0.11 during mid-day trading on Wednesday, reaching $8.35. The company’s stock had a trading volume of 825,939 shares, compared to its average volume of 901,518. The business has a fifty day moving average of $7.96 and a 200 day moving average of $8.51. The company has a market cap of $1.26 billion, a price-to-earnings ratio of -14.51 and a beta of 1.97. Udemy has a 1 year low of $6.67 and a 1 year high of $16.01.

Udemy (NASDAQ:UDMY) last posted its quarterly earnings results on Wednesday, July 31st. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.07). Udemy had a negative return on equity of 26.62% and a negative net margin of 11.39%. The company had revenue of $194.36 million during the quarter, compared to analyst estimates of $194.17 million. On average, analysts predict that Udemy will post -0.52 earnings per share for the current year.

Insiders Place Their Bets

In other Udemy news, CFO Sarah Blanchard sold 45,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $8.05, for a total transaction of $362,250.00. Following the completion of the transaction, the chief financial officer now owns 1,001,761 shares in the company, valued at $8,064,176.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.20% of the company’s stock.

Institutional Trading of Udemy

Several hedge funds have recently modified their holdings of UDMY. ProShare Advisors LLC increased its holdings in shares of Udemy by 10.7% in the first quarter. ProShare Advisors LLC now owns 16,109 shares of the company’s stock valued at $177,000 after purchasing an additional 1,553 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Udemy by 18.8% during the 1st quarter. Principal Financial Group Inc. now owns 12,053 shares of the company’s stock worth $132,000 after acquiring an additional 1,904 shares during the period. Swiss National Bank grew its holdings in Udemy by 2.2% during the 1st quarter. Swiss National Bank now owns 136,200 shares of the company’s stock worth $1,495,000 after acquiring an additional 2,900 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Udemy by 6.9% during the second quarter. The Manufacturers Life Insurance Company now owns 51,780 shares of the company’s stock worth $447,000 after purchasing an additional 3,336 shares in the last quarter. Finally, Natixis boosted its position in shares of Udemy by 60.8% during the first quarter. Natixis now owns 8,967 shares of the company’s stock worth $99,000 after purchasing an additional 3,391 shares in the last quarter. Institutional investors and hedge funds 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.