Udemy, Inc. (NASDAQ:UDMY) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Udemy, Inc. (NASDAQ:UDMY) have earned an average recommendation of “Moderate Buy” from the twelve research firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $11.00.

Several equities research analysts have issued reports on UDMY shares. Bank of America lowered shares of Udemy from a “buy” rating to a “neutral” rating and set a $8.50 price target on the stock. in a research note on Thursday, August 1st. Morgan Stanley downgraded Udemy from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $10.00 to $7.50 in a research report on Friday, September 27th. Canaccord Genuity Group initiated coverage on Udemy in a research report on Thursday, August 8th. They set a “buy” rating and a $12.00 price target for the company. Cantor Fitzgerald lowered their price target on Udemy from $18.00 to $11.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Finally, Needham & Company LLC dropped their price objective on Udemy from $15.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th.

Insider Buying and Selling at Udemy

In other news, CFO Sarah Blanchard sold 45,000 shares of the firm’s 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 transaction, the chief financial officer now directly owns 1,001,761 shares in the company, valued at $8,064,176.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Gregory Scott Brown sold 10,000 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $8.50, for a total transaction of $85,000.00. Following the transaction, the chief executive officer now owns 1,203,727 shares of the company’s stock, valued at $10,231,679.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Sarah Blanchard sold 45,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $8.05, for a total value of $362,250.00. Following the transaction, the chief financial officer now directly owns 1,001,761 shares in the company, valued at approximately $8,064,176.05. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Udemy

Several hedge funds and other institutional investors have recently modified their holdings of UDMY. Royce & Associates LP grew its position in Udemy by 1.1% in the 3rd quarter. Royce & Associates LP now owns 944,059 shares of the company’s stock valued at $7,024,000 after purchasing an additional 10,650 shares during the period. Victory Capital Management Inc. bought a new position in shares of Udemy in the third quarter valued at $75,000. Entropy Technologies LP acquired a new position in shares of Udemy during the third quarter valued at about $178,000. Harbor Capital Advisors Inc. increased its position in shares of Udemy by 28.9% during the third quarter. Harbor Capital Advisors Inc. now owns 20,433 shares of the company’s stock worth $152,000 after acquiring an additional 4,581 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Udemy by 106.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 242,791 shares of the company’s stock worth $1,806,000 after acquiring an additional 125,235 shares during the last quarter. Institutional investors own 79.48% of the company’s stock.

Udemy Stock Performance

NASDAQ:UDMY opened at $8.73 on Friday. The stock has a 50-day simple moving average of $7.97 and a 200 day simple moving average of $8.45. Udemy has a 52-week low of $6.67 and a 52-week high of $16.01. The company has a market cap of $1.27 billion, a PE ratio of -13.86 and a beta of 1.95.

Udemy (NASDAQ:UDMY) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.06. Udemy had a negative net margin of 12.33% and a negative return on equity of 29.36%. The company had revenue of $195.42 million during the quarter, compared to analysts’ expectations of $192.69 million. During the same period last year, the business earned ($0.10) EPS. The business’s quarterly revenue was up 5.8% on a year-over-year basis. On average, research analysts predict that Udemy will post -0.47 earnings per share for the current fiscal year.

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.