Canaccord analyst Jason Tilchen lowered the firm’s price target on Udemy (UDMY) to $12 from $14 and keeps a Buy rating on the shares. The firm said they reported solid Q1 results, with both revenue and profitability coming in ahead of expectations. The company remains encouraged by progress as it shifts Enterprise resources upmarket, with notable recent deals including a wall-to-wall expansion at one of the world’s largest consulting firms and being selected as the reskilling platform of choice for a business that was consolidating from three learning vendors to one due to the breadth of Udemy’s offering.
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