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

Udemy, Inc. (NASDAQ:UDMY) has received an average rating of “Moderate Buy” from the ten analysts that are presently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $10.00.

Several equities research analysts have recently weighed in on the company. Canaccord Genuity Group decreased 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. Needham & Company LLC reiterated a “buy” rating and set a $11.00 price target on shares of Udemy in a research note on Thursday. Wall Street Zen upgraded shares of Udemy from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Truist Financial reiterated a “hold” rating and set a $7.00 target price (down previously from $10.00) on shares of Udemy in a research note on Monday, April 7th. Finally, Morgan Stanley upgraded shares of Udemy from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $7.00 to $9.00 in a research note on Thursday, June 5th.

Udemy Trading Down 4.5%

Shares of Udemy stock opened at $7.27 on Monday. Udemy has a 12-month low of $5.68 and a 12-month high of $10.61. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of -34.62 and a beta of 1.78. The company has a fifty day simple moving average of $7.12 and a 200-day simple moving average of $7.51.

Udemy (NASDAQ:UDMY) last announced its earnings results on Wednesday, July 30th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.04. The firm had revenue of $199.88 million during the quarter, compared to analysts’ expectations of $196.74 million. Udemy had a negative return on equity of 5.19% and a negative net margin of 3.85%. The business’s revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.04) EPS. On average, analysts forecast that Udemy will post -0.09 earnings per share for the current fiscal year.

Insider Activity

In other Udemy news, CEO Hugo Sarrazin purchased 22,695 shares of the business’s stock in a transaction on Wednesday, May 21st. The stock was bought at an average cost of $6.91 per share, for a total transaction of $156,822.45. Following the acquisition, 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 position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Sarah Blanchard sold 25,000 shares of the business’s stock in a transaction on Friday, June 13th. The shares were sold at an average price of $6.99, for a total value of $174,750.00. Following the completion of the transaction, the chief financial officer owned 1,077,097 shares of the company’s stock, valued at $7,528,908.03. This trade represents a 2.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders purchased a total of 47,580 shares of company stock valued at $330,894 in the last three months. 3.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Udemy

Institutional investors and hedge funds have recently made changes to their positions in the company. Quarry LP acquired a new stake in shares of Udemy during the 4th quarter worth $34,000. Vega Investment Solutions acquired a new stake in Udemy during the fourth quarter worth about $46,000. GAMMA Investing LLC increased its stake in Udemy by 558.3% during the first quarter. GAMMA Investing LLC now owns 6,945 shares of the company’s stock worth $54,000 after acquiring an additional 5,890 shares during the last quarter. State of Wyoming acquired a new stake in Udemy during the 4th quarter worth approximately $59,000. Finally, New York State Teachers Retirement System acquired a new stake in Udemy during the 2nd quarter worth approximately $58,000. 79.48% of the stock is currently owned by institutional investors and hedge funds.

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.