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

Udemy, Inc. (NASDAQ:UDMY) has been assigned an average recommendation of “Hold” from the eleven brokerages that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $8.75.

A number of equities research analysts have recently issued reports on UDMY shares. Wall Street Zen raised shares of Udemy from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 7th. Needham & Company LLC reiterated a “buy” rating and issued a $11.00 target price on shares of Udemy in a report on Thursday, October 30th. Zacks Research cut Udemy from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 28th. KeyCorp lowered Udemy from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, January 13th. Finally, Canaccord Genuity Group set a $5.00 price objective on Udemy in a research note on Monday, February 9th.

Insider Transactions at Udemy

In other news, CFO Sarah Blanchard sold 25,000 shares of the stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $5.25, for a total transaction of $131,250.00. Following the sale, the chief financial officer owned 1,208,046 shares of the company’s stock, valued at approximately $6,342,241.50. This represents a 2.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Udemy

A number of hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC increased its position in shares of Udemy by 217.6% during the first quarter. AQR Capital Management LLC now owns 205,212 shares of the company’s stock worth $1,592,000 after acquiring an additional 140,597 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Udemy by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,071 shares of the company’s stock worth $420,000 after purchasing an additional 2,399 shares in the last quarter. Millennium Management LLC increased its holdings in Udemy by 5.0% during the 1st quarter. Millennium Management LLC now owns 753,782 shares of the company’s stock worth $5,849,000 after purchasing an additional 35,577 shares during the period. Goldman Sachs Group Inc. increased its holdings in Udemy by 45.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 658,603 shares of the company’s stock worth $5,111,000 after purchasing an additional 205,104 shares during the period. Finally, Jane Street Group LLC raised its position in Udemy by 116.6% in the 1st quarter. Jane Street Group LLC now owns 143,497 shares of the company’s stock valued at $1,114,000 after purchasing an additional 77,260 shares in the last quarter. 79.48% of the stock is currently owned by institutional investors and hedge funds.

Udemy Stock Up 1.5%

UDMY stock opened at $4.85 on Friday. Udemy has a 52-week low of $4.35 and a 52-week high of $10.26. The stock has a market cap of $709.94 million, a price-to-earnings ratio of 242.62 and a beta of 1.72. The business has a fifty day moving average of $5.27 and a two-hundred day moving average of $5.97.

Udemy (NASDAQ:UDMY) last released its quarterly earnings results on Thursday, February 5th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. The business had revenue of $193.99 million during the quarter, compared to analysts’ expectations of $193.40 million. Udemy had a return on equity of 4.78% and a net margin of 0.48%.The company’s revenue was down 3.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.10 EPS. As a group, sell-side analysts anticipate that Udemy will post -0.09 EPS 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.