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

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

Other equities research analysts have also issued research reports about the company. Truist Financial increased their price target on Udemy from $13.00 to $15.00 and gave the company a buy rating in a research report on Monday, January 22nd. Robert W. Baird lifted their price target on shares of Udemy from $15.00 to $17.00 and gave the stock an outperform rating in a research note on Thursday, February 15th. Needham & Company LLC reissued a buy rating and issued a $15.00 price objective on shares of Udemy in a research report on Thursday, April 4th. Piper Sandler reaffirmed a neutral rating and set a $13.00 price objective on shares of Udemy in a research report on Thursday, February 15th. Finally, TheStreet lowered Udemy from a c- rating to a d+ rating in a report on Wednesday, March 6th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Udemy has an average rating of Moderate Buy and an average price target of $14.40.

Udemy Stock Performance

Shares of UDMY opened at $10.30 on Monday. The company’s 50-day moving average price is $10.70 and its 200 day moving average price is $12.33. Udemy has a 12-month low of $8.17 and a 12-month high of $16.01.

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

Insider Buying and Selling

In other news, Director Eren Bali sold 15,000 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $10.97, for a total value of $164,550.00. Following the completion of the sale, the director now directly owns 1,676,050 shares of the company’s stock, valued at approximately $18,386,268.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Eren Bali sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $10.97, for a total transaction of $164,550.00. Following the transaction, the director now directly owns 1,676,050 shares in the company, valued at $18,386,268.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Venu Venugopal sold 6,981 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $10.82, for a total transaction of $75,534.42. Following the completion of the sale, the chief technology officer now owns 334,319 shares of the company’s stock, valued at approximately $3,617,331.58. The disclosure for this sale can be found here. Insiders have sold 50,981 shares of company stock worth $570,044 in the last ninety days. 3.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Udemy

A number of large investors have recently bought and sold shares of the company. Venturi Wealth Management LLC acquired a new position in shares of Udemy during the third quarter worth about $29,000. Daiwa Securities Group Inc. boosted its holdings in Udemy by 261.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 4,730 shares of the company’s stock valued at $70,000 after purchasing an additional 3,420 shares in the last quarter. RIA Advisory Group LLC acquired a new position in Udemy during the 4th quarter worth approximately $76,000. SG Americas Securities LLC acquired a new position in Udemy during the 3rd quarter worth approximately $95,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Udemy by 28.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,171 shares of the company’s stock worth $125,000 after buying an additional 2,880 shares in the last quarter. Hedge funds and other 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.