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Udemy (NASDAQ:UDMY) Shares Gap Down to $11.21

Udemy, Inc. (NASDAQ:UDMYGet Rating) gapped down prior to trading on Monday . The stock had previously closed at $11.21, but opened at $10.83. Udemy shares last traded at $11.07, with a volume of 902 shares changing hands.

Analyst Ratings Changes

A number of research firms have recently weighed in on UDMY. Needham & Company LLC lowered their target price on Udemy from $25.00 to $17.00 in a research note on Thursday, May 5th. Robert W. Baird lowered their target price on Udemy from $25.00 to $18.00 in a research note on Thursday, May 5th. Morgan Stanley lowered their target price on Udemy from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Tuesday. Jefferies Financial Group boosted their target price on Udemy from $11.00 to $15.00 in a research note on Tuesday, May 31st. Finally, Piper Sandler lowered Udemy from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $13.00 to $11.00 in a research note on Monday. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.92.

Udemy Trading Up 3.5 %

The business has a fifty day simple moving average of $12.10 and a two-hundred day simple moving average of $12.80.

Udemy (NASDAQ:UDMYGet Rating) last posted its earnings results on Wednesday, May 4th. The company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.06. The firm had revenue of $152.20 million for the quarter, compared to analysts’ expectations of $146.63 million. During the same quarter last year, the company posted ($0.21) EPS. The firm’s revenue was up 22.2% on a year-over-year basis. As a group, sell-side analysts expect that Udemy, Inc. will post -0.93 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Industry Ventures L.L.C. purchased a new position in shares of Udemy during the 4th quarter worth approximately $16,948,000. Dragoneer Investment Group LLC purchased a new stake in shares of Udemy in the 4th quarter worth approximately $3,908,000. FNY Investment Advisers LLC purchased a new stake in shares of Udemy in the 1st quarter worth approximately $37,000. Davidson Kempner Capital Management LP purchased a new stake in shares of Udemy in the 4th quarter worth approximately $1,481,000. Finally, Naspers Ltd. purchased a new stake in shares of Udemy in the 4th quarter worth approximately $334,541,000. Hedge funds and other institutional investors own 66.69% of the company’s stock.

Udemy Company Profile

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