Udemy’s (UDMY) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Udemy (NASDAQ:UDMY) in a report released on Friday morning, Benzinga reports. They currently have a $15.00 target price on the stock.

A number of other equities research analysts also recently weighed in on UDMY. Piper Sandler reissued a neutral rating and set a $13.00 target price on shares of Udemy in a report on Thursday, February 15th. Cantor Fitzgerald restated an overweight rating and set a $20.00 target price on shares of Udemy in a research report on Thursday, February 15th. TheStreet cut shares of Udemy from a c- rating to a d+ rating in a report on Wednesday, March 6th. Truist Financial boosted their price target on Udemy from $13.00 to $15.00 and gave the company a buy rating in a research note on Monday, January 22nd. Finally, Jefferies Financial Group lowered their price objective on Udemy from $14.00 to $11.00 and set a hold rating on the stock in a research note on Monday, April 29th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Udemy currently has a consensus rating of Moderate Buy and a consensus price target of $13.90.

Udemy Trading Up 0.6 %

Shares of UDMY opened at $10.19 on Friday. Udemy has a 52 week low of $8.46 and a 52 week high of $16.01. The firm’s 50-day simple moving average is $10.63 and its 200 day simple moving average is $12.34.

Udemy (NASDAQ:UDMY) last posted its earnings results on Wednesday, February 14th. The company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.04. The company had revenue of $189.55 million for the quarter, compared to the consensus estimate of $185.71 million. Udemy had a negative return on equity of 22.29% and a negative net margin of 10.82%. On average, equities analysts forecast that Udemy will post -0.47 earnings per share for the current fiscal year.

Insider Transactions at Udemy

In related news, Director Eren Bali sold 15,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $10.96, for a total value of $164,400.00. Following the sale, the director now directly owns 1,661,050 shares of the company’s stock, valued at $18,205,108. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Eren Bali sold 15,000 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $10.96, for a total value of $164,400.00. Following the completion of the transaction, the director now owns 1,661,050 shares of the company’s stock, valued at approximately $18,205,108. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Gregory Scott Brown sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $11.04, for a total transaction of $110,400.00. Following the completion of the sale, the chief executive officer now owns 1,163,328 shares in the company, valued at approximately $12,843,141.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,981 shares of company stock valued at $514,884. Corporate insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Udemy

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Udemy by 5.6% during the fourth quarter. Vanguard Group Inc. now owns 9,355,870 shares of the company’s stock worth $137,812,000 after purchasing an additional 495,380 shares during the last quarter. Greenvale Capital LLP raised its stake in shares of Udemy by 2.3% during the fourth quarter. Greenvale Capital LLP now owns 6,600,000 shares of the company’s stock valued at $97,218,000 after acquiring an additional 150,000 shares during the last quarter. Invenomic Capital Management LP lifted its holdings in shares of Udemy by 5.5% during the fourth quarter. Invenomic Capital Management LP now owns 2,234,835 shares of the company’s stock worth $32,919,000 after purchasing an additional 116,432 shares during the period. Sea Cliff Partners Management LP bought a new stake in shares of Udemy in the fourth quarter worth $25,661,000. Finally, Inflection Point Investments LLP acquired a new stake in Udemy in the fourth quarter valued at $21,390,000. Institutional investors and hedge funds own 79.48% of the company’s stock.

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.