Udemy, Inc. (NASDAQ:UDMY) Receives $13.90 Consensus Price Target from Brokerages

Shares of Udemy, Inc. (NASDAQ:UDMY) have received an average recommendation of “Moderate Buy” from the ten brokerages that are presently covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $13.90.

Several research firms recently commented on UDMY. KeyCorp cut their target price on shares of Udemy from $15.00 to $14.00 and set an “overweight” rating for the company in a research note on Friday, May 3rd. Needham & Company LLC restated a “buy” rating and set a $15.00 price target on shares of Udemy in a research note on Friday, May 3rd. Morgan Stanley reduced their price objective on Udemy from $15.00 to $13.00 and set an “equal weight” rating for the company in a research report on Friday, April 19th. Cantor Fitzgerald restated an “overweight” rating and set a $20.00 price objective on shares of Udemy in a research report on Friday, May 3rd. Finally, Robert W. Baird reduced their target price on Udemy from $15.00 to $13.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd.

Udemy Price Performance

UDMY stock opened at $8.58 on Friday. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of -16.19 and a beta of 2.00. The company has a 50-day moving average of $9.14 and a two-hundred day moving average of $11.20. Udemy has a 52-week low of $7.91 and a 52-week high of $16.01.

Udemy (NASDAQ:UDMY) last announced its earnings results on Thursday, May 2nd. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.02. The firm had revenue of $196.85 million during the quarter, compared to the consensus estimate of $194.83 million. Udemy had a negative return on equity of 23.10% and a negative net margin of 10.82%. Equities analysts expect that Udemy will post -0.45 EPS for the current fiscal year.

Insider Buying and Selling at Udemy

In other news, CEO Gregory Scott Brown sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $8.50, for a total transaction of $85,000.00. Following the completion of the sale, the chief executive officer now owns 1,273,406 shares of the company’s stock, valued at $10,823,951. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Gregory Scott Brown sold 10,000 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $8.50, for a total value of $85,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,273,406 shares in the company, valued at $10,823,951. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Venu Venugopal sold 7,086 shares of the company’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $9.89, for a total transaction of $70,080.54. Following the transaction, the chief technology officer now owns 429,927 shares in the company, valued at approximately $4,251,978.03. The disclosure for this sale can be found here. Insiders have sold a total of 64,486 shares of company stock worth $604,441 over the last ninety days. Corporate insiders own 3.20% of the company’s stock.

Institutional Trading of Udemy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sea Cliff Partners Management LP bought a new stake in shares of Udemy during the 4th quarter valued at $25,661,000. Inflection Point Investments LLP bought a new stake in Udemy in the fourth quarter valued at about $21,390,000. Vanguard Group Inc. lifted its stake in Udemy by 19.3% in the third quarter. Vanguard Group Inc. now owns 8,860,490 shares of the company’s stock valued at $84,175,000 after buying an additional 1,433,980 shares during the period. Silvercrest Asset Management Group LLC acquired a new position in Udemy in the first quarter valued at about $8,109,000. Finally, Invenomic Capital Management LP boosted its holdings in Udemy by 22.9% during the first quarter. Invenomic Capital Management LP now owns 2,747,453 shares of the company’s stock worth $30,167,000 after buying an additional 512,618 shares during the last quarter. 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.