Udemy (NASDAQ:UDMY) Stock Rating Lowered by Morgan Stanley

Udemy (NASDAQ:UDMY) was downgraded by equities researchers at Morgan Stanley from an “equal weight” rating to an “underweight” rating in a report released on Friday, MarketBeat.com reports. They presently have a $7.50 price objective on the stock, down from their prior price objective of $10.00. Morgan Stanley’s target price would suggest a potential downside of 1.96% from the company’s current price.

Several other equities analysts have also recently commented on the stock. Truist Financial decreased their price target on shares of Udemy from $15.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Bank of America cut shares of Udemy from a “buy” rating to a “neutral” rating and set a $8.50 price target for the company. in a research report on Thursday, August 1st. KeyCorp decreased their price target on shares of Udemy from $14.00 to $13.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Canaccord Genuity Group initiated coverage on shares of Udemy in a research report on Thursday, August 8th. They issued a “buy” rating and a $12.00 price target for the company. Finally, Canaccord Genuity Group initiated coverage on shares of Udemy in a research report on Thursday, August 8th. They issued a “buy” rating and a $12.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Udemy has an average rating of “Moderate Buy” and an average target price of $11.92.

Udemy Stock Performance

NASDAQ:UDMY opened at $7.65 on Friday. The stock has a market capitalization of $1.15 billion, a P/E ratio of -14.43 and a beta of 1.99. The company has a 50 day moving average price of $7.98 and a 200 day moving average price of $9.00. Udemy has a fifty-two week low of $6.67 and a fifty-two week high of $16.01.

Udemy (NASDAQ:UDMY) last posted its quarterly earnings data on Wednesday, July 31st. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.07). The company had revenue of $194.36 million for the quarter, compared to analysts’ expectations of $194.17 million. Udemy had a negative return on equity of 26.62% and a negative net margin of 11.39%. Research analysts forecast that Udemy will post -0.52 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Eren Bali sold 15,000 shares of Udemy stock in a transaction on Friday, July 26th. The shares were sold at an average price of $9.10, for a total transaction of $136,500.00. Following the sale, the director now directly owns 1,639,477 shares in the company, valued at approximately $14,919,240.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Eren Bali sold 15,000 shares of Udemy stock in a transaction on Friday, July 26th. The shares were sold at an average price of $9.10, for a total transaction of $136,500.00. Following the sale, the director now directly owns 1,639,477 shares in the company, valued at approximately $14,919,240.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Sarah Blanchard sold 45,000 shares of Udemy stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $8.05, for a total transaction of $362,250.00. Following the sale, the chief financial officer now owns 1,001,761 shares in the company, valued at $8,064,176.05. The disclosure for this sale can be found here. In the last three months, insiders have sold 62,000 shares of company stock worth $514,430. 3.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Udemy

Several hedge funds and other institutional investors have recently bought and sold shares of UDMY. ProShare Advisors LLC increased its stake in Udemy by 10.7% in the first quarter. ProShare Advisors LLC now owns 16,109 shares of the company’s stock valued at $177,000 after purchasing an additional 1,553 shares during the period. Principal Financial Group Inc. increased its stake in Udemy by 18.8% in the first quarter. Principal Financial Group Inc. now owns 12,053 shares of the company’s stock valued at $132,000 after purchasing an additional 1,904 shares during the period. Swiss National Bank increased its stake in Udemy by 2.2% in the first quarter. Swiss National Bank now owns 136,200 shares of the company’s stock valued at $1,495,000 after purchasing an additional 2,900 shares during the period. The Manufacturers Life Insurance Company increased its stake in Udemy by 6.9% in the second quarter. The Manufacturers Life Insurance Company now owns 51,780 shares of the company’s stock valued at $447,000 after purchasing an additional 3,336 shares during the period. Finally, Natixis increased its stake in Udemy by 60.8% in the first quarter. Natixis now owns 8,967 shares of the company’s stock valued at $99,000 after purchasing an additional 3,391 shares during the period. 79.48% of the stock is currently 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.