Udemy Inc (NASDAQ:UDMY) shares hit a new 52-week low during mid-day trading on Friday after Truist Securities lowered their price target on the stock from $42.00 to $35.00. Truist Securities currently has a buy rating on the stock. Udemy traded as low as $19.61 and last traded at $20.35, with a volume of 696511 shares changing hands. The stock had previously closed at $21.07.
Several other research analysts also recently commented on the company. Truist cut their target price on Udemy from $42.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday. The analyst cites sector volatility and compressed multiples for his price target cut, but he is positive on the company’s first quarterly results post-IPO as revenue for both Consumer and Udemy Business and Enterprise segments were “well above” his estimates. Tillman adds that Udemy Business continues to perform at high level with 84% y/y growth, and he expects seasonal strength in both segments during Q4. Bank of America began coverage on Udemy in a research report on Tuesday, November 23rd. They issued a “buy” rating and a $40.00 target price for the company. Jefferies Financial Group began coverage on Udemy in a research report on Tuesday, November 23rd. They issued a “hold” rating and a $32.00 target price for the company. William Blair began coverage on Udemy in a research report on Tuesday, November 23rd. They issued an “outperform” rating for the company. Finally, Robert W. Baird began coverage on Udemy in a research report on Tuesday, November 23rd. They issued an “outperform” rating and a $42.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $36.64.
Udemy (NASDAQ:UDMY) last posted its earnings results on Tuesday, December 7th. The company reported ($0.04) EPS for the quarter, hitting analysts’ consensus estimates of ($0.04). The company had revenue of $129.60 million during the quarter, compared to the consensus estimate of $125.59 million. During the same period last year, the firm posted $0.14 EPS. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, equities research analysts expect that Udemy Inc will post -0.32 earnings per share for the current year.
About Udemy (NASDAQ:UDMY)
Udemy Inc develops educational software solutions. The Company offers an online course in various subjects including technology, Internet, business, creative and performing arts, health and fitness, language and music. Udemy Inc is based in San Francisco, United States.