Udemy (NASDAQ:UDMY) Price Target Raised to $10.00 at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald raised Udemy's price target from $9.00 to $10.00, suggesting a potential upside of 30.28% from the previous close, while maintaining an "overweight" rating.
• Among other analysts, Morgan Stanley upgraded Udemy from "underweight" to "equal weight," increasing their price target to $9.00, contrasting with some firms lowering their targets.
• Udemy reported $0.16 EPS for its latest quarter, exceeding estimates, and its revenue increased 2.8% year-over-year to $199.88 million.

Udemy (NASDAQ:UDMY - Get Free Report) had its price target boosted by equities researchers at Cantor Fitzgerald from $9.00 to $10.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Cantor Fitzgerald's target price indicates a potential upside of 30.28% from the stock's previous close.

A number of other research firms have also issued reports on UDMY. Morgan Stanley raised Udemy from an "underweight" rating to an "equal weight" rating and lifted their target price for the stock from $7.00 to $9.00 in a report on Thursday, June 5th. Wall Street Zen lowered Udemy from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 12th. Needham & Company LLC restated a "buy" rating and issued a $11.00 price target on shares of Udemy in a research note on Thursday. Truist Financial reiterated a "hold" rating and issued a $7.00 price target (down previously from $10.00) on shares of Udemy in a research report on Monday, April 7th. Finally, JPMorgan Chase & Co. decreased their price target on Udemy from $11.00 to $8.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Udemy currently has an average rating of "Moderate Buy" and a consensus target price of $9.85.

Udemy Stock Performance

Shares of UDMY opened at $7.68 on Thursday. Udemy has a 52 week low of $5.68 and a 52 week high of $10.61. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of -16.60 and a beta of 1.77. The business's fifty day moving average price is $7.10 and its two-hundred day moving average price is $7.53.

Udemy (NASDAQ:UDMY - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.12 by $0.04. The firm had revenue of $199.88 million during the quarter, compared to the consensus estimate of $196.74 million. Udemy had a negative net margin of 8.70% and a negative return on equity of 22.68%. The company's quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.04) earnings per share. As a group, research analysts forecast that Udemy will post -0.09 EPS for the current year.

Insider Transactions at Udemy

In related news, CEO Hugo Sarrazin bought 22,695 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The shares were acquired at an average cost of $6.91 per share, for a total transaction of $156,822.45. Following the acquisition, the chief executive officer owned 47,580 shares in the company, valued at $328,777.80. This represents a 91.20% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Sarah Blanchard sold 25,000 shares of the company's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $6.99, for a total value of $174,750.00. Following the completion of the transaction, the chief financial officer directly owned 1,077,097 shares of the company's stock, valued at approximately $7,528,908.03. This trade represents a 2.27% decrease in their position. The disclosure for this sale can be found here. Insiders have purchased a total of 47,580 shares of company stock valued at $330,894 over the last three months. Corporate insiders own 2.10% of the company's stock.

Hedge Funds Weigh In On Udemy

A number of institutional investors have recently bought and sold shares of the stock. Quarry LP acquired a new stake in Udemy during the fourth quarter worth approximately $34,000. Vega Investment Solutions bought a new position in Udemy during the fourth quarter valued at about $46,000. GAMMA Investing LLC grew its stake in Udemy by 558.3% during the 1st quarter. GAMMA Investing LLC now owns 6,945 shares of the company's stock valued at $54,000 after acquiring an additional 5,890 shares in the last quarter. New York State Teachers Retirement System acquired a new stake in Udemy in the 2nd quarter worth approximately $58,000. Finally, State of Wyoming bought a new stake in shares of Udemy during the fourth quarter valued at approximately $59,000. 79.48% of the stock is 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.

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