Needham & Company LLC Cuts Udemy (NASDAQ:UDMY) Price Target to $17.00 – Defense World

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Posted by on May 5th, 2022
Udemy (NASDAQ:UDMYGet Rating) had its target price lowered by Needham & Company LLC from $25.00 to $17.00 in a report issued on Thursday, The Fly reports. Needham & Company LLC’s price objective would indicate a potential upside of 67.98% from the company’s previous close.
A number of other analysts have also commented on UDMY. Robert W. Baird reduced their price target on shares of Udemy from $42.00 to $25.00 in a research note on Monday, March 7th. Zacks Investment Research upgraded shares of Udemy from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a research note on Wednesday, April 13th. Piper Sandler dropped their price objective on shares of Udemy from $24.00 to $22.00 and set an “overweight” rating on the stock in a report on Thursday, February 10th. Cantor Fitzgerald began coverage on shares of Udemy in a report on Tuesday, March 29th. They issued an “overweight” rating and a $22.00 price objective on the stock. Finally, Berenberg Bank began coverage on shares of Udemy in a report on Thursday, March 17th. They issued a “buy” rating and a $30.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $27.38.
Shares of UDMY stock opened at $10.12 on Thursday. The business has a 50 day moving average of $11.94. Udemy has a 52 week low of $9.66 and a 52 week high of $32.62.

Udemy (NASDAQ:UDMYGet Rating) last announced its quarterly earnings results on Wednesday, May 4th. The company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.07. The company had revenue of $152.20 million during the quarter, compared to the consensus estimate of $146.63 million. During the same quarter in the prior year, the firm earned ($0.21) earnings per share. The business’s revenue was up 22.2% compared to the same quarter last year. On average, research analysts anticipate that Udemy will post -0.92 EPS for the current fiscal year.
A number of large investors have recently modified their holdings of UDMY. Insight Holdings Group LLC purchased a new position in Udemy during the fourth quarter valued at approximately $819,390,000. Naspers Ltd. purchased a new position in Udemy during the fourth quarter valued at approximately $334,541,000. Caledonia Private Investments Pty Ltd purchased a new position in Udemy during the fourth quarter valued at approximately $53,883,000. BlackRock Inc. bought a new stake in shares of Udemy during the fourth quarter valued at approximately $34,673,000. Finally, Norges Bank bought a new stake in shares of Udemy during the fourth quarter valued at approximately $28,793,000. 66.69% of the stock is currently owned by institutional investors and hedge funds.
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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