Zacks Investment Research Lowers Udemy (NASDAQ:UDMY) to Hold

Udemy (NASDAQ:UDMYGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, Zacks.com reports.

According to Zacks, “Udemy Inc. develops educational software solutions. The Company offers an online course in various subjects including technology, Internet, business, creative and performing arts, health and fitness, language and music. Udemy Inc. is based in San Francisco, United States. “

Several other equities research analysts have also recently issued reports on UDMY. Robert W. Baird decreased their price objective on Udemy from $25.00 to $18.00 in a report on Thursday, May 5th. KeyCorp lowered their price target on Udemy from $20.00 to $15.00 in a report on Thursday, May 5th. Needham & Company LLC cut their price objective on shares of Udemy from $25.00 to $17.00 in a report on Thursday, May 5th. Berenberg Bank assumed coverage on shares of Udemy in a research report on Thursday, March 17th. They issued a “buy” rating and a $30.00 target price on the stock. Finally, Piper Sandler dropped their price target on shares of Udemy from $24.00 to $22.00 and set an “overweight” rating for the company in a research report on Thursday, February 10th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $26.85.

UDMY stock traded up $0.86 on Friday, reaching $12.21. The company had a trading volume of 8,084 shares, compared to its average volume of 596,765. Udemy has a 1 year low of $9.66 and a 1 year high of $32.62. The firm’s fifty day moving average price is $11.82.

Udemy (NASDAQ:UDMYGet Rating) last posted its quarterly earnings data on Wednesday, May 4th. The company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.06. The firm had revenue of $152.20 million during the quarter, compared to analyst estimates of $146.63 million. The business’s quarterly revenue was up 22.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.21) EPS. On average, analysts anticipate that Udemy will post -0.94 EPS for the current year.

Several hedge funds have recently bought and sold shares of UDMY. New York State Common Retirement Fund acquired a new stake in shares of Udemy during the fourth quarter valued at about $49,000. Emerald Mutual Fund Advisers Trust purchased a new stake in Udemy during the 4th quarter worth approximately $2,937,000. Ion Asset Management Ltd. purchased a new stake in Udemy during the 4th quarter worth approximately $434,000. Daiwa Securities Group Inc. bought a new stake in shares of Udemy in the fourth quarter worth $25,000. Finally, Emerald Advisers LLC acquired a new stake in Udemy in the fourth quarter valued at $4,355,000. Institutional investors and hedge funds own 66.69% of the company’s stock.

Udemy Company Profile (Get Rating)

Udemy, Inc operates a marketplace platform for teaching and learning skills in the United States and internationally. The company offers technical and business skills, and personal development courses for individual learners and enterprise customers. Its platform provides 49 million learners with access to approximately 180,000 courses through direct-to-consumer or Udemy Business offerings in approximately 75 languages.

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