Udemy (NASDAQ:UDMY) Trading Up 6.2% After Analyst Upgrade

Udemy, Inc. (NASDAQ:UDMYGet Rating)’s share price was up 6.2% during mid-day trading on Friday after KeyCorp raised their price target on the stock from $16.00 to $19.00. KeyCorp currently has an overweight rating on the stock. Udemy traded as high as $15.45 and last traded at $15.25. Approximately 2,258 shares traded hands during mid-day trading, a decline of 100% from the average daily volume of 469,095 shares. The stock had previously closed at $14.36.

A number of other research firms also recently issued reports on UDMY. Piper Sandler increased their price objective on Udemy from $13.00 to $14.50 and gave the stock a “neutral” rating in a report on Friday, November 4th. JPMorgan Chase & Co. decreased their price objective on Udemy from $16.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, November 3rd. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.38.

Institutional Trading of Udemy

Hedge funds have recently made changes to their positions in the business. Landscape Capital Management L.L.C. acquired a new stake in shares of Udemy in the second quarter valued at approximately $121,000. Caledonia Private Investments Pty Ltd lifted its position in shares of Udemy by 38.2% in the first quarter. Caledonia Private Investments Pty Ltd now owns 3,810,596 shares of the company’s stock valued at $47,480,000 after buying an additional 1,053,021 shares during the last quarter. Keebeck Alpha LP acquired a new stake in shares of Udemy in the first quarter valued at approximately $127,000. Parkwood LLC acquired a new stake in shares of Udemy in the second quarter valued at approximately $524,000. Finally, Credit Suisse AG lifted its position in shares of Udemy by 1.8% in the second quarter. Credit Suisse AG now owns 734,345 shares of the company’s stock valued at $7,498,000 after buying an additional 12,752 shares during the last quarter. 73.46% of the stock is owned by institutional investors and hedge funds.

Udemy Price Performance

The company has a market capitalization of $2.16 billion and a price-to-earnings ratio of -14.15. The stock has a 50-day moving average price of $14.00 and a 200-day moving average price of $13.26.

About Udemy

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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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