Udemy price target lowered to $18 from $20 at Truist

Truist analyst Terry Tillman lowered the firm’s price target on Udemy to $18 from $20 but keeps a Buy rating on the shares. The company’s Q4 results were "stable" amid a difficult macro environment and material currency headwinds, the analyst tells investors in a research note. The firm adds that while profitability at Udemy is now expected sooner, its management did put forth revenue growth expectations that are below previous street estimates, citing a reduction in customer budgets and elongated sales cycles.