BofA lowered the firm’s price target on Udemy to $14 from $16 and keeps a Buy rating on the shares. Following the company’s Q1 report, the firm lowered its FY24 revenue forecast to $798.6M from $807.4M and raised its EBITDA view to $24M from $13.6M to reflect topline headwinds and opex efficiencies. The firm views Udemy as well positioned to benefit from secular shift to skills training and remains positive on potential for the Enterprise segment, the analyst tells investors.
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