Udemy price target lowered to $11 from $18 at Cantor Fitzgerald
The Fly

Udemy price target lowered to $11 from $18 at Cantor Fitzgerald

Cantor Fitzgerald analyst Brett Knoblauch lowered the firm’s price target on Udemy (UDMY) to $11 from $18 and keeps an Overweight rating on the shares. Udemy delivered an in-line or slightly positive quarter on good performance, exceeding consensus estimates on revenue, operating income, margin, and EBITDA, and the firm is highly intrigued by the return of co-founder and CTO Eren Bali to lead the tech and product roadmap, and acknowledges the early progress of Chief Revenue Officer Rob Rosenthal, the analyst tells investors in a research note. The firm believes content leaders like Udemy will gradually recover, even as it pivots to a defensive posture on the general Ed-Tech sector, and sees this as an attractive buying opportunity for the long-term.

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App