Udemy, Inc. (NASDAQ:UDMY) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Udemy, Inc. (NASDAQ:UDMY) have received an average rating of “Moderate Buy” from the thirteen research firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $10.92.

Several equities analysts have recently issued reports on the stock. Cantor Fitzgerald lowered their target price on shares of Udemy from $18.00 to $11.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Morgan Stanley cut Udemy from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $10.00 to $7.50 in a research note on Friday, September 27th. Needham & Company LLC reduced their price target on Udemy from $15.00 to $11.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Finally, Scotiabank started coverage on shares of Udemy in a research note on Thursday, December 5th. They issued a “sector outperform” rating and a $10.00 price target on the stock.

Udemy Stock Up 1.8 %

Shares of UDMY stock opened at $7.90 on Friday. The business’s fifty day moving average is $8.17 and its 200 day moving average is $8.11. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of -12.54 and a beta of 1.91. Udemy has a twelve month low of $6.67 and a twelve month high of $15.34.

Udemy (NASDAQ:UDMY) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.07 earnings per share (EPS) 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 analyst estimates of $192.69 million. During the same period last year, the business earned ($0.10) EPS. Udemy’s quarterly revenue was up 5.8% compared to the same quarter last year. Equities research analysts expect that Udemy will post -0.47 earnings per share for the current fiscal year.

Insider Transactions at Udemy

In other news, CTO Eren Bali sold 35,518 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $9.00, for a total value of $319,662.00. Following the transaction, the chief technology officer now directly owns 2,225,532 shares in the company, valued at $20,029,788. This trade represents a 1.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Gregory Scott Brown sold 10,000 shares of Udemy stock in a transaction on Friday, December 6th. The stock was sold at an average price of $8.71, for a total value of $87,100.00. Following the completion of the sale, the chief executive officer now directly owns 1,183,086 shares of the company’s stock, valued at $10,304,679.06. The trade was a 0.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,518 shares of company stock worth $491,762 over the last three months. 3.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Udemy

Institutional investors have recently made changes to their positions in the business. Barclays PLC grew its position in Udemy by 360.6% during the third quarter. Barclays PLC now owns 155,719 shares of the company’s stock valued at $1,158,000 after buying an additional 121,911 shares during the period. Geode Capital Management LLC boosted its stake in shares of Udemy by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,216,868 shares of the company’s stock worth $16,497,000 after acquiring an additional 5,972 shares during the last quarter. State Street Corp grew its position in shares of Udemy by 0.8% during the 3rd quarter. State Street Corp now owns 1,934,473 shares of the company’s stock valued at $14,392,000 after acquiring an additional 15,339 shares during the period. Point72 DIFC Ltd purchased a new stake in shares of Udemy in the 3rd quarter worth $30,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Udemy in the 3rd quarter worth $103,000. Institutional investors own 79.48% of the company’s stock.

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.