Udemy, Inc. (NASDAQ:UDMY) Receives Average Rating of “Hold” from Analysts

Udemy, Inc. (NASDAQ:UDMY) has been given a consensus rating of “Hold” by the eleven analysts that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $9.00.

A number of brokerages recently commented on UDMY. KeyCorp cut Udemy from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, January 13th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Udemy in a research note on Wednesday. Needham & Company LLC reiterated a “buy” rating and issued a $11.00 price target on shares of Udemy in a research report on Thursday, October 30th. Canaccord Genuity Group cut shares of Udemy from a “buy” rating to a “hold” rating and decreased their price objective for the company from $12.00 to $7.00 in a report on Wednesday, December 17th. Finally, Wall Street Zen raised shares of Udemy from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 7th.

Insiders Place Their Bets

In other Udemy news, CFO Sarah Blanchard sold 25,000 shares of the business’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $5.25, for a total value of $131,250.00. Following the completion of the transaction, the chief financial officer directly owned 1,208,046 shares of the company’s stock, valued at approximately $6,342,241.50. The trade was a 2.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Udemy

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in Udemy by 3.8% during the 3rd quarter. Vanguard Group Inc. now owns 11,895,585 shares of the company’s stock worth $83,388,000 after buying an additional 436,984 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Udemy by 70.8% during the third quarter. Assenagon Asset Management S.A. now owns 4,474,417 shares of the company’s stock worth $31,366,000 after acquiring an additional 1,854,550 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Udemy by 3.7% during the second quarter. Geode Capital Management LLC now owns 2,313,651 shares of the company’s stock worth $16,267,000 after acquiring an additional 81,599 shares during the period. Westerly Capital Management LLC bought a new stake in Udemy in the 3rd quarter valued at $15,878,000. Finally, UBS Group AG boosted its stake in Udemy by 56.8% in the 3rd quarter. UBS Group AG now owns 1,786,371 shares of the company’s stock worth $12,522,000 after purchasing an additional 646,755 shares during the period. 79.48% of the stock is currently owned by institutional investors and hedge funds.

Udemy Price Performance

Shares of NASDAQ:UDMY opened at $5.10 on Monday. The stock has a market cap of $746.54 million, a price-to-earnings ratio of -169.94 and a beta of 1.73. The company has a 50 day moving average of $5.40 and a 200-day moving average of $6.26. Udemy has a one year low of $4.86 and a one year high of $10.61.

Udemy (NASDAQ:UDMY) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. The firm had revenue of $195.68 million for the quarter, compared to analysts’ expectations of $193.09 million. Udemy had a negative net margin of 0.47% and a positive return on equity of 2.11%. The business’s revenue for the quarter was up .1% on a year-over-year basis. During the same period last year, the firm earned $0.07 earnings per share. Equities research analysts anticipate that Udemy will post -0.09 earnings per share for the current year.

About Udemy

Udemy, Inc (NASDAQ: UDMY) operates a leading online learning marketplace that connects learners and instructors across a wide range of subject areas. The company’s platform hosts thousands of self-paced video courses covering technology, business, personal development, creative arts and more. Individual learners can purchase courses on demand, while instructors receive revenue share for teaching content to a global audience.

In addition to its consumer-facing marketplace, Udemy provides enterprise learning solutions under the Udemy for Business brand.