Udemy (NASDAQ:UDMY) Earns Buy Rating from Needham & Company LLC

Udemy (NASDAQ:UDMY)‘s stock had its “buy” rating reaffirmed by investment analysts at Needham & Company LLC in a research report issued on Thursday,Benzinga reports. They presently have a $11.00 target price on the stock. Needham & Company LLC’s target price would suggest a potential upside of 51.31% from the stock’s current price.

Several other research firms have also commented on UDMY. JPMorgan Chase & Co. dropped their target price on Udemy from $11.00 to $8.00 and set a “neutral” rating on the stock in a report on Thursday, April 24th. Robert W. Baird lowered their price objective on Udemy from $13.00 to $11.00 and set an “outperform” rating on the stock in a research report on Thursday, May 1st. Cantor Fitzgerald dropped their price objective on shares of Udemy from $11.00 to $9.00 and set an “overweight” rating on the stock in a research note on Thursday, May 1st. Truist Financial reaffirmed a “hold” rating and set a $7.00 target price (down from $10.00) on shares of Udemy in a report on Monday, April 7th. Finally, Morgan Stanley raised shares of Udemy from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $7.00 to $9.00 in a report on Thursday, June 5th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $10.00.

Udemy Price Performance

Shares of Udemy stock opened at $7.27 on Thursday. The stock has a market cap of $1.08 billion, a PE ratio of -34.62 and a beta of 1.78. The firm has a fifty day moving average price of $7.12 and a 200 day moving average price of $7.52. Udemy has a 1 year low of $5.68 and a 1 year high of $10.61.

Udemy (NASDAQ:UDMY) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.04. The company had revenue of $199.88 million for the quarter, compared to the consensus estimate of $196.74 million. Udemy had a negative return on equity of 5.40% and a negative net margin of 3.85%. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period last year, the firm earned ($0.04) EPS. As a group, equities analysts expect that Udemy will post -0.09 EPS for the current year.

Insider Buying and Selling at Udemy

In other Udemy news, CFO Sarah Blanchard sold 25,000 shares of the company’s stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $6.99, for a total value of $174,750.00. Following the transaction, the chief financial officer owned 1,077,097 shares of the company’s stock, valued at $7,528,908.03. This represents a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Hugo Sarrazin purchased 22,695 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer owned 47,580 shares of the company’s stock, valued at approximately $328,777.80. The trade was a 91.20% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 47,580 shares of company stock valued at $330,894. 2.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Udemy

A number of hedge funds have recently made changes to their positions in UDMY. Quarry LP acquired a new position in Udemy during the fourth quarter worth $34,000. Vega Investment Solutions purchased a new stake in shares of Udemy in the 4th quarter valued at $46,000. GAMMA Investing LLC lifted its stake in Udemy by 558.3% during the 1st quarter. GAMMA Investing LLC now owns 6,945 shares of the company’s stock worth $54,000 after acquiring an additional 5,890 shares in the last quarter. New York State Teachers Retirement System purchased a new position in Udemy during the 2nd quarter valued at about $58,000. Finally, State of Wyoming acquired a new position in Udemy in the 4th quarter valued at about $59,000. Hedge funds and other institutional investors 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.