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Shares of Udemy, Inc. (NASDAQ:UDMY – Get Rating) shot up 10.5% on Thursday after KeyCorp raised their price target on the stock from $15.00 to $16.00. KeyCorp currently has an overweight rating on the stock. Udemy traded as high as $13.77 and last traded at $13.65. 6,131 shares changed hands during mid-day trading, a decline of 98% from the average session volume of 387,571 shares. The stock had previously closed at $12.35.
Several other research firms have also recently weighed in on UDMY. Morgan Stanley cut their price objective on Udemy from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 19th. Needham & Company LLC cut their price objective on Udemy from $25.00 to $17.00 in a research report on Thursday, May 5th. Jefferies Financial Group boosted their price objective on Udemy from $11.00 to $15.00 in a research report on Tuesday, May 31st. Robert W. Baird lowered their target price on Udemy from $25.00 to $18.00 in a research note on Thursday, May 5th. Finally, Piper Sandler boosted their target price on Udemy from $11.00 to $13.00 and gave the company a “neutral” rating in a research note on Thursday. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Udemy has a consensus rating of “Moderate Buy” and a consensus price target of $24.17.
Institutional Trading of Udemy
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Daiwa Securities Group Inc. bought a new stake in shares of Udemy during the 4th quarter valued at $25,000. Point72 Hong Kong Ltd bought a new stake in shares of Udemy during the 4th quarter valued at $26,000. FNY Investment Advisers LLC bought a new stake in shares of Udemy during the 1st quarter valued at $37,000. Lazard Asset Management LLC bought a new stake in shares of Udemy during the 1st quarter valued at $46,000. Finally, New York State Common Retirement Fund purchased a new position in Udemy during the fourth quarter worth about $49,000. 66.69% of the stock is currently owned by institutional investors.
Udemy Stock Performance
The company has a 50-day moving average of $12.08 and a 200 day moving average of $12.54.
Udemy (NASDAQ:UDMY – Get Rating) last posted its earnings results on Wednesday, May 4th. The company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.06. The business had revenue of $152.20 million for the quarter, compared to analysts’ expectations of $146.63 million. During the same quarter in the previous year, the firm earned ($0.21) earnings per share. Udemy’s quarterly revenue was up 22.2% compared to the same quarter last year. As a group, equities research analysts predict that Udemy, Inc. will post -0.93 EPS for the current year.
About Udemy
(Get Rating)
Udemy, Inc operates a marketplace platform for teaching and learning skills in the United States and internationally. The company offers technical and business skills, and personal development courses for individual learners and enterprise customers. Its platform provides 49 million learners with access to approximately 180,000 courses through direct-to-consumer or Udemy Business offerings in approximately 75 languages.
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