Udemy (NASDAQ:UDMY) Price Target Lowered to $24.00 at Piper Sandler

Udemy (NASDAQ:UDMY) had its price objective cut by Piper Sandler from $34.00 to $24.00 in a note issued to investors on Thursday, The Fly reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price target would indicate a potential upside of 56.45% from the company’s current price.

A number of other brokerages have also commented on UDMY. Bank of America assumed coverage on Udemy in a research note on Tuesday, November 23rd. They set a “buy” rating and a $40.00 price target for the company. Truist Securities dropped their price target on Udemy from $42.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, December 9th. KeyCorp assumed coverage on Udemy in a research note on Tuesday, November 23rd. They set an “overweight” rating and a $37.00 price target for the company. Morgan Stanley assumed coverage on Udemy in a research note on Tuesday, November 23rd. They set an “equal weight” rating and a $36.00 price target for the company. Finally, William Blair assumed coverage on Udemy in a research note on Tuesday, November 23rd. They set an “outperform” rating for the company. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $35.09.

NASDAQ:UDMY opened at $15.34 on Thursday. Udemy has a 12-month low of $13.42 and a 12-month high of $32.62. The stock’s 50-day simple moving average is $21.79.

Udemy (NASDAQ:UDMY) last released its earnings results on Tuesday, December 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.04). The business had revenue of $129.60 million for the quarter, compared to analysts’ expectations of $125.59 million. During the same quarter in the prior year, the business posted $0.14 EPS. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. As a group, analysts forecast that Udemy will post -0.72 EPS for the current fiscal year.

About Udemy

Udemy Inc develops educational software solutions. The Company offers an online course in various subjects including technology, Internet, business, creative and performing arts, health and fitness, language and music. Udemy Inc is based in San Francisco, United States.

Further Reading: Return on Investment (ROI)

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