Brokerages Set Udemy, Inc. (NASDAQ:UDMY) Target Price at $10.95

Udemy, Inc. (NASDAQ:UDMY) has been given a consensus rating of “Moderate Buy” by the twelve ratings firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $10.68.

Several analysts have weighed in on UDMY shares. William Blair cut shares of Udemy from an “outperform” rating to a “market perform” rating in a research note on Wednesday, March 12th. Truist Financial reiterated a “hold” rating and issued a $7.00 price target (down from $10.00) on shares of Udemy in a research report on Monday. Needham & Company LLC reissued a “buy” rating and set a $11.00 price target on shares of Udemy in a research report on Wednesday, March 12th. Canaccord Genuity Group upped their price objective on shares of Udemy from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Finally, Morgan Stanley increased their price objective on shares of Udemy from $7.50 to $9.00 and gave the stock an “underweight” rating in a research note on Thursday, February 20th.

Insider Activity at Udemy

In other Udemy news, CEO Gregory Scott Brown sold 10,000 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $9.43, for a total value of $94,300.00. Following the completion of the transaction, the chief executive officer now owns 1,141,896 shares of the company’s stock, valued at $10,768,079.28. This represents a 0.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Ltd Naspers sold 3,200,000 shares of Udemy stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $7.84, for a total value of $25,088,000.00. Following the sale, the insider now directly owns 13,920,840 shares in the company, valued at $109,139,385.60. The trade was a 18.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,305,168 shares of company stock valued at $26,040,186 in the last quarter. Insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Udemy

Several large investors have recently modified their holdings of UDMY. Victory Capital Management Inc. acquired a new stake in Udemy in the third quarter valued at $75,000. Intech Investment Management LLC acquired a new stake in shares of Udemy in the third quarter valued at about $161,000. Charles Schwab Investment Management Inc. raised its position in shares of Udemy by 3.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 761,920 shares of the company’s stock worth $5,669,000 after acquiring an additional 27,959 shares during the last quarter. FMR LLC raised its position in shares of Udemy by 2.8% during the third quarter. FMR LLC now owns 1,330,073 shares of the company’s stock worth $9,896,000 after acquiring an additional 36,380 shares during the last quarter. Finally, Verition Fund Management LLC acquired a new position in shares of Udemy in the third quarter worth approximately $1,630,000. Institutional investors own 79.48% of the company’s stock.

Udemy Stock Down 9.2 %

Shares of NASDAQ:UDMY opened at $6.04 on Tuesday. The stock has a market cap of $892.37 million, a PE ratio of -10.60 and a beta of 1.81. Udemy has a 12-month low of $5.84 and a 12-month high of $11.60. The business has a 50 day moving average of $8.50 and a 200-day moving average of $8.23.

Udemy (NASDAQ:UDMY) last issued its quarterly earnings data on Thursday, February 13th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.10). The firm had revenue of $199.94 million during the quarter, compared to analyst estimates of $194.70 million. Udemy had a negative net margin of 10.84% and a negative return on equity of 27.93%. Equities research analysts expect that Udemy will post -0.09 earnings per share for the current 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.