Udemy, Inc. (NASDAQ:UDMY) Given Average Rating of “Moderate Buy” by Analysts

Udemy, Inc. (NASDAQ:UDMY) has been given an average rating of “Moderate Buy” by the twelve ratings firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $9.86.

UDMY has been the subject of a number of research analyst reports. Canaccord Genuity Group reduced their target price on Udemy from $14.00 to $12.00 and set a “buy” rating for the company in a report on Thursday, May 1st. JPMorgan Chase & Co. lowered their price target on shares of Udemy from $11.00 to $8.00 and set a “neutral” rating on the stock in a report on Thursday, April 24th. William Blair cut Udemy from an “outperform” rating to a “market perform” rating in a research report on Wednesday, March 12th. Robert W. Baird cut their price target on Udemy from $13.00 to $11.00 and set an “outperform” rating for the company in a report on Thursday, May 1st. Finally, Morgan Stanley cut their target price on Udemy from $9.00 to $7.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 16th.

Insider Buying and Selling at Udemy

In related news, CTO Eren Bali sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $8.02, for a total value of $80,200.00. Following the sale, the chief technology officer now owns 2,146,050 shares in the company, valued at $17,211,321. This represents a 0.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Hugo Sarrazin acquired 5,432 shares of the stock in a transaction dated Thursday, May 15th. The shares were bought at an average cost of $6.99 per share, with a total value of $37,969.68. Following the completion of the purchase, the chief executive officer now directly owns 8,832 shares in the company, valued at approximately $61,735.68. This trade represents a 159.76% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 10,600 shares of company stock valued at $74,076 and sold 20,846 shares valued at $181,268. 2.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Udemy

Several large investors have recently modified their holdings of UDMY. Focus Partners Wealth grew its stake in Udemy by 1.9% during the 1st quarter. Focus Partners Wealth now owns 79,437 shares of the company’s stock worth $616,000 after buying an additional 1,468 shares during the last quarter. HighTower Advisors LLC boosted its stake in shares of Udemy by 7.8% during the 1st quarter. HighTower Advisors LLC now owns 22,551 shares of the company’s stock worth $175,000 after acquiring an additional 1,641 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Udemy by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,071 shares of the company’s stock valued at $420,000 after purchasing an additional 2,399 shares during the last quarter. MetLife Investment Management LLC raised its holdings in Udemy by 6.2% in the 4th quarter. MetLife Investment Management LLC now owns 59,465 shares of the company’s stock worth $489,000 after acquiring an additional 3,450 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new stake in Udemy in the 4th quarter valued at approximately $31,000. Institutional investors own 79.48% of the company’s stock.

Udemy Stock Performance

Shares of UDMY stock opened at $6.99 on Wednesday. The firm has a market cap of $1.04 billion, a P/E ratio of -12.26 and a beta of 1.82. The business’s 50 day moving average price is $7.06 and its 200-day moving average price is $7.92. Udemy has a fifty-two week low of $5.68 and a fifty-two week high of $10.61.

Udemy (NASDAQ:UDMY) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.10 by $0.02. The business had revenue of $200.30 million for the quarter, compared to analyst estimates of $197.19 million. Udemy had a negative net margin of 10.84% and a negative return on equity of 27.93%. Udemy’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.03 earnings per share. As a group, equities analysts predict that Udemy will post -0.09 EPS for the current year.

About Udemy

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.