Udemy (NASDAQ:UDMY) Given New $9.00 Price Target at Morgan Stanley

Udemy (NASDAQ:UDMY) had its price objective upped by Morgan Stanley from $7.50 to $9.00 in a report published on Thursday morning,Benzinga reports. They currently have an underweight rating on the stock.

UDMY has been the subject of several other research reports. Cantor Fitzgerald decreased their price objective on Udemy from $18.00 to $11.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Needham & Company LLC reissued a “buy” rating and issued a $11.00 price objective on shares of Udemy in a report on Friday, February 14th. Scotiabank began coverage on Udemy in a report on Thursday, December 5th. They issued a “sector outperform” rating and a $10.00 price objective for the company. Finally, Canaccord Genuity Group boosted their price objective on Udemy from $12.00 to $14.00 and gave the company a “buy” rating in a report on Friday, February 14th. One equities 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 MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $10.95.

Udemy Stock Performance

Udemy stock opened at $9.80 on Thursday. The business’s 50-day simple moving average is $8.19 and its two-hundred day simple moving average is $8.04. The company has a market cap of $1.43 billion, a PE ratio of -17.19 and a beta of 1.85. Udemy has a fifty-two week low of $6.67 and a fifty-two week high of $11.65.

Udemy (NASDAQ:UDMY) last issued its quarterly earnings data on Thursday, February 13th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.10). The company 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 26.50%. As a group, analysts predict that Udemy will post -0.2 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Gregory Scott Brown sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was 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 directly owns 1,183,086 shares in the company, valued at $10,304,679.06. This represents a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Ltd Naspers sold 3,200,000 shares of the company’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 value of $25,088,000.00. Following the completion of the sale, the insider now owns 13,920,840 shares of the company’s stock, valued at $109,139,385.60. This trade represents a 18.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 3,294,322 shares of company stock worth $25,946,018. Corporate insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Udemy

Large investors have recently made changes to their positions in the stock. SBI Securities Co. Ltd. purchased a new stake in shares of Udemy in the fourth quarter valued at approximately $31,000. Point72 DIFC Ltd purchased a new stake in shares of Udemy in the third quarter valued at approximately $30,000. Quarry LP purchased a new stake in shares of Udemy in the fourth quarter valued at approximately $34,000. Vega Investment Solutions purchased a new stake in shares of Udemy in the fourth quarter valued at approximately $46,000. Finally, State of Wyoming purchased a new stake in shares of Udemy in the fourth quarter valued at approximately $59,000. 79.48% of the stock is currently owned by hedge funds and other 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.