KeyCorp Trims Udemy (NASDAQ:UDMY) Target Price to $14.00

Udemy (NASDAQ:UDMY) had its price objective reduced by equities researchers at KeyCorp from $15.00 to $14.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s target price points to a potential upside of 38.20% from the stock’s current price.

UDMY has been the topic of a number of other reports. Robert W. Baird dropped their price objective on shares of Udemy from $15.00 to $13.00 and set an “outperform” rating on the stock in a research note on Friday. Cantor Fitzgerald reissued an “overweight” rating and set a $20.00 price objective on shares of Udemy in a research report on Friday. Needham & Company LLC reaffirmed a “buy” rating and issued a $15.00 target price on shares of Udemy in a research report on Friday. JPMorgan Chase & Co. boosted their price target on Udemy from $11.00 to $12.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. Finally, TheStreet lowered shares of Udemy from a “c-” rating to a “d+” rating in a research report on Wednesday, March 6th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $13.90.

Udemy Stock Performance

Shares of NASDAQ UDMY traded up $0.24 during midday trading on Friday, reaching $10.13. 3,322,212 shares of the company’s stock were exchanged, compared to its average volume of 927,866. Udemy has a 52-week low of $8.17 and a 52-week high of $16.01. The business’s fifty day moving average price is $10.65 and its two-hundred day moving average price is $12.30. The stock has a market capitalization of $1.55 billion, a PE ratio of -14.07 and a beta of 2.12.

Udemy (NASDAQ:UDMY) last issued its earnings results on Wednesday, February 14th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.04. The firm 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%. Analysts predict that Udemy will post -0.47 earnings per share for the current fiscal year.

Insider Activity at Udemy

In other Udemy 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 transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Eren Bali sold 15,000 shares of Udemy stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $10.97, for a total transaction of $164,550.00. Following the transaction, the director now owns 1,676,050 shares in the company, valued at approximately $18,386,268.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gregory Scott Brown sold 10,000 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $11.04, for a total value of $110,400.00. Following the sale, the chief executive officer now directly owns 1,163,328 shares of the company’s stock, valued at $12,843,141.12. The disclosure for this sale can be found here. Insiders sold a total of 46,981 shares of company stock valued at $514,884 over the last quarter. Corporate insiders own 3.20% of the company’s stock.

Institutional Trading of Udemy

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Udemy by 5.6% during the 4th quarter. Vanguard Group Inc. now owns 9,355,870 shares of the company’s stock worth $137,812,000 after buying an additional 495,380 shares during the last quarter. Greenvale Capital LLP increased its position in Udemy by 2.3% during the 4th quarter. Greenvale Capital LLP now owns 6,600,000 shares of the company’s stock worth $97,218,000 after purchasing an additional 150,000 shares in the last quarter. Invenomic Capital Management LP boosted its position in Udemy by 5.5% in the fourth quarter. Invenomic Capital Management LP now owns 2,234,835 shares of the company’s stock valued at $32,919,000 after buying an additional 116,432 shares in the last quarter. Sea Cliff Partners Management LP bought a new stake in shares of Udemy during the fourth quarter worth $25,661,000. Finally, Inflection Point Investments LLP bought a new stake in Udemy during the 4th quarter worth $21,390,000. 79.48% of the stock is owned by institutional investors and hedge funds.

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.