Jefferies Financial Group Cuts Udemy (NASDAQ:UDMY) Price Target to $11.00

Udemy (NASDAQ:UDMY) had its target price trimmed by Jefferies Financial Group from $14.00 to $11.00 in a research report sent to investors on Monday morning, Benzinga reports. The firm currently has a hold rating on the stock.

Several other equities research analysts have also commented on UDMY. KeyCorp increased their price objective on shares of Udemy from $13.00 to $15.00 and gave the company an overweight rating in a research note on Friday, January 12th. Robert W. Baird upped their target price on shares of Udemy from $15.00 to $17.00 and gave the stock an outperform rating in a research report on Thursday, February 15th. Needham & Company LLC reiterated a buy rating and issued a $15.00 target price on shares of Udemy in a research report on Thursday, April 4th. Cantor Fitzgerald reissued an overweight rating and issued a $20.00 price target on shares of Udemy in a research note on Thursday, February 15th. Finally, Truist Financial boosted their price target on shares of Udemy from $13.00 to $15.00 and gave the stock a buy rating in a research note on Monday, January 22nd. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Udemy has a consensus rating of Moderate Buy and a consensus price target of $14.40.

Udemy Stock Performance

Shares of NASDAQ:UDMY opened at $10.06 on Monday. The company has a market capitalization of $1.54 billion, a PE ratio of -13.97 and a beta of 2.14. Udemy has a 52-week low of $8.17 and a 52-week high of $16.01. The company has a fifty day moving average of $10.67 and a 200-day moving average of $12.31.

Udemy (NASDAQ:UDMY) last issued its quarterly earnings results on Wednesday, February 14th. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.04. The business had revenue of $189.55 million for the quarter, compared to analysts’ expectations of $185.71 million. Udemy had a negative net margin of 14.72% and a negative return on equity of 27.31%. On average, equities analysts forecast that Udemy will post -0.47 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Gregory Scott Brown sold 10,000 shares of Udemy stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $11.04, for a total transaction of $110,400.00. Following the completion of the transaction, the chief executive officer now directly owns 1,163,328 shares of the company’s stock, valued at approximately $12,843,141.12. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Eren Bali sold 15,000 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $10.96, for a total value 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 document filed with the SEC, which is available at the SEC website. Also, CEO Gregory Scott Brown sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $11.04, for a total transaction of $110,400.00. Following the transaction, the chief executive officer now owns 1,163,328 shares of the company’s stock, valued at approximately $12,843,141.12. The disclosure for this sale can be found here. Insiders sold 46,981 shares of company stock valued at $514,884 in the last three months. Corporate insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Udemy by 5.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,903 shares of the company’s stock valued at $205,000 after acquiring an additional 732 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Udemy by 18.8% in the first quarter. Principal Financial Group Inc. now owns 12,053 shares of the company’s stock valued at $132,000 after buying an additional 1,904 shares during the last quarter. Swiss National Bank raised its position in shares of Udemy by 2.0% in the third quarter. Swiss National Bank now owns 145,200 shares of the company’s stock valued at $1,379,000 after buying an additional 2,800 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Udemy by 28.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,171 shares of the company’s stock valued at $125,000 after purchasing an additional 2,880 shares during the period. Finally, Venturi Wealth Management LLC purchased a new position in Udemy during the third quarter worth about $29,000. Institutional investors own 79.48% of the company’s stock.

About Udemy

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.