Udemy, Inc. (NASDAQ:UDMY) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Udemy, Inc. (NASDAQ:UDMY) have been given a consensus rating of “Moderate Buy” by the twelve research firms that are presently covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $10.05.

Several research analysts have recently commented on the company. Canaccord Genuity Group cut their price objective on Udemy from $14.00 to $12.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Cantor Fitzgerald cut their price objective on Udemy from $11.00 to $9.00 and set an “overweight” rating for the company in a report on Thursday, May 1st. William Blair lowered Udemy from an “outperform” rating to a “market perform” rating in a research note on Wednesday, March 12th. Truist Financial restated a “hold” rating and issued a $7.00 price objective (down from $10.00) on shares of Udemy in a report on Monday, April 7th. Finally, Robert W. Baird cut their price objective on shares of Udemy from $13.00 to $11.00 and set an “outperform” rating for the company in a research note on Thursday, May 1st.

Insiders Place Their Bets

In other news, CFO Sarah Blanchard sold 25,000 shares of the firm’s stock in a transaction on Friday, June 13th. The stock was sold at an average price of $6.99, for a total transaction of $174,750.00. Following the completion of the transaction, the chief financial officer directly owned 1,077,097 shares in the company, valued at $7,528,908.03. This trade represents a 2.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Hugo Sarrazin purchased 22,695 shares of Udemy stock in a transaction dated Wednesday, May 21st. The shares were bought at an average price of $6.91 per share, with a total value of $156,822.45. Following the completion of the acquisition, the chief executive officer directly owned 47,580 shares of the company’s stock, valued at approximately $328,777.80. This represents a 91.20% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 47,580 shares of company stock valued at $330,894. 2.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Udemy

Several institutional investors and hedge funds have recently modified their holdings of the stock. Harbor Capital Advisors Inc. increased its holdings in shares of Udemy by 54.1% during the second quarter. Harbor Capital Advisors Inc. now owns 20,608 shares of the company’s stock valued at $145,000 after acquiring an additional 7,234 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Udemy by 45.2% during the first quarter. Goldman Sachs Group Inc. now owns 658,603 shares of the company’s stock valued at $5,111,000 after acquiring an additional 205,104 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Udemy by 1.2% during the first quarter. Rhumbline Advisers now owns 132,289 shares of the company’s stock valued at $1,027,000 after acquiring an additional 1,613 shares in the last quarter. Strs Ohio bought a new position in shares of Udemy during the first quarter valued at $178,000. Finally, Focus Partners Wealth increased its holdings in shares of Udemy by 1.9% during the first quarter. Focus Partners Wealth now owns 79,437 shares of the company’s stock valued at $616,000 after acquiring an additional 1,468 shares in the last quarter. 79.48% of the stock is currently owned by institutional investors.

Udemy Stock Up 1.6%

Shares of UDMY opened at $6.99 on Thursday. Udemy has a twelve month low of $5.68 and a twelve month high of $10.61. The stock has a market cap of $1.04 billion, a PE ratio of -15.20 and a beta of 1.77. The business’s 50-day moving average price is $7.03 and its 200-day moving average price is $7.66.

Udemy (NASDAQ:UDMY) last issued 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. Udemy had a negative return on equity of 22.68% and a negative net margin of 8.70%. The company had revenue of $200.30 million during the quarter, compared to analyst estimates of $197.19 million. During the same quarter in the previous year, the firm earned $0.03 earnings per share. Udemy’s revenue was up 1.8% on a year-over-year basis. Analysts expect that Udemy will post -0.09 earnings per share for the current fiscal 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.