Udemy, Inc. (NASDAQ:UDMY) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Udemy, Inc. (NASDAQ:UDMY) have been assigned an average rating of “Moderate Buy” from the twelve research firms that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $11.00.

A number of analysts have recently weighed in on the stock. Canaccord Genuity Group began coverage on shares of Udemy in a research note on Thursday, August 8th. They issued a “buy” rating and a $12.00 price objective for the company. Canaccord Genuity Group started coverage on shares of Udemy in a research report on Thursday, August 8th. They set a “buy” rating and a $12.00 target price for the company. Bank of America downgraded Udemy from a “buy” rating to a “neutral” rating and set a $8.50 price target on the stock. in a research report on Thursday, August 1st. Needham & Company LLC dropped their price objective on Udemy from $15.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Finally, Cantor Fitzgerald decreased their target price on Udemy from $18.00 to $11.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th.

Insider Activity

In other Udemy news, CTO Eren Bali sold 35,518 shares of Udemy stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $9.00, for a total transaction of $319,662.00. Following the sale, the chief technology officer now owns 2,225,532 shares in the company, valued at $20,029,788. The trade was a 1.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Gregory Scott Brown sold 10,000 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $8.50, for a total transaction of $85,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,203,727 shares in the company, valued at $10,231,679.50. This trade represents a 0.82 % decrease in their position. The disclosure for this sale can be found here. 3.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Udemy

Institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. bought a new position in shares of Udemy during the 1st quarter worth approximately $350,000. ProShare Advisors LLC lifted its holdings in shares of Udemy by 10.7% during the first quarter. ProShare Advisors LLC now owns 16,109 shares of the company’s stock valued at $177,000 after acquiring an additional 1,553 shares during the period. Vanguard Group Inc. boosted its stake in shares of Udemy by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 9,472,216 shares of the company’s stock valued at $104,005,000 after purchasing an additional 116,346 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of Udemy by 645.2% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 437,531 shares of the company’s stock worth $4,804,000 after purchasing an additional 378,819 shares during the last quarter. Finally, Industry Ventures L.L.C. acquired a new stake in shares of Udemy during the 2nd quarter worth about $3,452,000. 79.48% of the stock is owned by institutional investors and hedge funds.

Udemy Price Performance

Shares of NASDAQ:UDMY opened at $7.95 on Wednesday. The stock has a market capitalization of $1.16 billion, a P/E ratio of -12.62 and a beta of 1.95. The business has a 50-day moving average of $7.99 and a two-hundred day moving average of $8.25. Udemy has a fifty-two week low of $6.67 and a fifty-two week high of $16.01.

Udemy (NASDAQ:UDMY) last posted its earnings results on Tuesday, October 29th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.06. The firm had revenue of $195.42 million during the quarter, compared to analyst estimates of $192.69 million. Udemy had a negative return on equity of 29.36% and a negative net margin of 12.33%. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the company earned ($0.10) EPS. As a group, research analysts expect that Udemy will post -0.47 EPS for the current fiscal year.

Udemy Company Profile

Udemy, Inc, a learning company, that operates a marketplace platform for learning skills in the United States and internationally. The company offers skill acquisition, development, and validation courses for organizations and individuals, through direct-to-consumer or Udemy Business offerings in various languages.