Udemy, Inc. (UDMY) stock plummeted 5.05% intraday on Thursday, following a cautious outlook from Morgan Stanley analyst Josh Baer, who maintained a "Sell" rating on the company and set a price target of $9.00.
The analyst's bearish stance on Udemy stems from concerns over the company's growth prospects and potential overvaluation. According to the report, Baer believes that Udemy's growth trajectory may be slowing down, which could negatively impact its financial performance and stock valuation.
Furthermore, the analyst's $9.00 price target suggests that the stock may be overvalued at its current levels, leading to the recommendation to sell the shares. Investors appear to have reacted to the analyst's cautious outlook, contributing to the significant intraday decline in Udemy's stock price.
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