Udemy (NASDAQ:UDMY – Get Rating) had its price objective lowered by stock analysts at Morgan Stanley from $17.00 to $16.00 in a research note issued to investors on Tuesday, Stock Target Advisor reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 31.47% from the company’s current price.
UDMY has been the topic of a number of other reports. Needham & Company LLC decreased their price target on Udemy from $25.00 to $17.00 in a research note on Thursday, May 5th. Robert W. Baird cut their price target on shares of Udemy from $25.00 to $18.00 in a research note on Thursday, May 5th. KeyCorp lowered their price objective on shares of Udemy from $20.00 to $15.00 in a research note on Thursday, May 5th. Piper Sandler downgraded shares of Udemy from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $13.00 to $11.00 in a research note on Monday. Finally, Jefferies Financial Group raised their price target on shares of Udemy from $11.00 to $15.00 in a research report on Tuesday, May 31st. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $23.92.
Udemy Stock Performance
UDMY stock opened at $12.17 on Tuesday. Udemy has a 1 year low of $9.47 and a 1 year high of $32.62. The business has a 50 day simple moving average of $12.12 and a 200-day simple moving average of $12.80.
Udemy (NASDAQ:UDMY – Get Rating) last issued its earnings results on Wednesday, May 4th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.06. The company had revenue of $152.20 million during the quarter, compared to analyst estimates of $146.63 million. The firm’s revenue was up 22.2% compared to the same quarter last year. During the same period last year, the business earned ($0.21) earnings per share. As a group, equities research analysts predict that Udemy will post -0.93 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the business. Daiwa Securities Group Inc. acquired a new stake in shares of Udemy during the 4th quarter worth about $25,000. Point72 Hong Kong Ltd acquired a new stake in Udemy during the fourth quarter worth approximately $26,000. New York State Common Retirement Fund purchased a new stake in shares of Udemy during the 4th quarter worth approximately $49,000. FNY Investment Advisers LLC acquired a new position in shares of Udemy in the 1st quarter valued at $37,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Udemy by 3.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 106,912 shares of the company’s stock valued at $1,333,000 after buying an additional 3,455 shares during the last quarter. 66.69% of the stock is owned by institutional investors and hedge funds.