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

Needham & Company LLC restated their buy rating on shares of Udemy (NASDAQ:UDMY) in a report issued on Thursday morning,Benzinga reports. The firm currently has a $11.00 price objective on the stock.

Other research analysts have also issued research reports about the company. Wall Street Zen upgraded Udemy from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 2nd. Zacks Research lowered Udemy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 2nd. Cantor Fitzgerald increased their price target on Udemy from $9.00 to $10.00 and gave the stock an “overweight” rating in a report on Thursday, July 31st. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Udemy in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Udemy presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.67.

Udemy Stock Performance

Shares of NASDAQ:UDMY opened at $5.70 on Thursday. The business’s 50 day simple moving average is $6.83 and its two-hundred day simple moving average is $6.92. The firm has a market cap of $856.94 million, a P/E ratio of -189.94 and a beta of 1.76. Udemy has a 52-week low of $5.59 and a 52-week high of $10.61.

Udemy (NASDAQ:UDMY) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.03. The business had revenue of $195.68 million for the quarter, compared to analyst estimates of $193.09 million. Udemy had a positive return on equity of 2.13% and a negative net margin of 0.47%.The company’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.07 earnings per share. Udemy has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, equities analysts forecast that Udemy will post -0.09 earnings per share for the current fiscal year.

Udemy declared that its board has authorized a share buyback plan on Wednesday, September 10th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Udemy

In other news, CFO Sarah Blanchard sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $7.08, for a total value of $177,000.00. Following the transaction, the chief financial officer owned 1,287,953 shares in the company, valued at $9,118,707.24. This trade represents a 1.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.10% of the stock is owned by corporate insiders.

Institutional Trading of Udemy

Institutional investors and hedge funds have recently modified their holdings of the business. Janney Montgomery Scott LLC purchased a new stake in shares of Udemy during the second quarter valued at approximately $340,000. Teacher Retirement System of Texas purchased a new stake in shares of Udemy during the first quarter valued at approximately $97,000. Nuveen LLC purchased a new stake in shares of Udemy during the first quarter valued at approximately $1,718,000. Vanguard Group Inc. increased its position in shares of Udemy by 12.2% during the first quarter. Vanguard Group Inc. now owns 10,663,298 shares of the company’s stock valued at $82,747,000 after acquiring an additional 1,156,006 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC purchased a new stake in shares of Udemy during the second quarter valued at approximately $406,000. 79.48% of the stock is owned by hedge funds and other institutional investors.

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.