Analysts Set Udemy, Inc. (NASDAQ:UDMY) Target Price at $12.38

Shares of Udemy, Inc. (NASDAQ:UDMY) have been assigned a consensus recommendation of “Moderate Buy” from the twelve analysts that are currently covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $12.38.

A number of research firms recently commented on UDMY. Robert W. Baird lowered their price target on shares of Udemy from $13.00 to $11.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. Canaccord Genuity Group assumed coverage on Udemy in a research report on Thursday, August 8th. They set a “buy” rating and a $12.00 price target on the stock. Canaccord Genuity Group initiated coverage on Udemy in a research note on Thursday, August 8th. They set a “buy” rating and a $12.00 price target for the company. Cantor Fitzgerald upgraded Udemy to a “strong-buy” rating in a research note on Tuesday, August 13th. Finally, Bank of America lowered shares of Udemy from a “buy” rating to a “neutral” rating and set a $8.50 target price for the company. in a research report on Thursday, August 1st.

Insider Activity at Udemy

In other Udemy news, CEO Gregory Scott Brown sold 10,000 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $8.50, for a total value of $85,000.00. Following the sale, the chief executive officer now directly owns 1,273,406 shares in the company, valued at approximately $10,823,951. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Sarah Blanchard sold 45,000 shares of Udemy stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $8.05, for a total transaction of $362,250.00. Following the completion of the sale, the chief financial officer now owns 1,001,761 shares in the company, valued at approximately $8,064,176.05. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Gregory Scott Brown sold 10,000 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $8.50, for a total value of $85,000.00. Following the transaction, the chief executive officer now directly owns 1,273,406 shares of the company’s stock, valued at approximately $10,823,951. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 72,000 shares of company stock valued at $599,430. Corporate insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Udemy

A number of institutional investors and hedge funds have recently bought and sold shares of UDMY. Ariadne Wealth Management LP purchased a new position in Udemy in the 2nd quarter worth approximately $67,000. Algert Global LLC lifted its holdings in shares of Udemy by 150.8% during the 2nd quarter. Algert Global LLC now owns 238,672 shares of the company’s stock worth $2,060,000 after acquiring an additional 143,498 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Udemy in the second quarter worth $562,000. Sea Cliff Partners Management LP grew its position in Udemy by 27.9% in the second quarter. Sea Cliff Partners Management LP now owns 3,725,865 shares of the company’s stock worth $32,154,000 after acquiring an additional 811,702 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Udemy by 6.9% in the second quarter. The Manufacturers Life Insurance Company now owns 51,780 shares of the company’s stock valued at $447,000 after acquiring an additional 3,336 shares during the last quarter. 79.48% of the stock is owned by hedge funds and other institutional investors.

Udemy Price Performance

Shares of NASDAQ:UDMY opened at $8.07 on Friday. The company has a market capitalization of $1.24 billion, a PE ratio of -15.23 and a beta of 1.99. Udemy has a 1 year low of $6.67 and a 1 year high of $16.01. The business has a fifty day moving average price of $8.06 and a two-hundred day moving average price of $9.18.

Udemy (NASDAQ:UDMY) last posted its quarterly earnings results on Wednesday, July 31st. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.07). The company had revenue of $194.36 million for the quarter, compared to the consensus estimate of $194.17 million. Udemy had a negative net margin of 11.39% and a negative return on equity of 26.62%. Sell-side analysts anticipate that Udemy will post -0.52 earnings per share for the current year.

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.