Udemy price target lowered to $12 from $14.50 at Piper Sandler

Piper Sandler analyst Arvind Ramnani lowered the firm’s price target on Udemy to $12 from $14.50 and keeps a Neutral rating on the shares. The company’s Q4 results were roughly in-line with expectations, but its fiscal 2023 outlook came in below expectations with Udemy Business is anticipated to moderate given a tougher learning and development budgetary environment, with lengthening sales cycles, the analyst tells investors in a research note.