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

Shares of Udemy, Inc. (NASDAQ:UDMY) have been given an average rating of “Moderate Buy” by the eleven brokerages that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $10.95.

A number of research analysts have commented on the company. Scotiabank initiated coverage on Udemy in a research note on Thursday, December 5th. They set a “sector outperform” rating and a $10.00 price objective on the stock. Morgan Stanley boosted their price target on Udemy from $7.50 to $9.00 and gave the stock an “underweight” rating in a research report on Thursday, February 20th. Canaccord Genuity Group upped their price target on Udemy from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $11.00 price objective on shares of Udemy in a research note on Friday, February 14th.

Udemy Stock Performance

NASDAQ UDMY opened at $9.36 on Friday. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of -16.42 and a beta of 1.85. Udemy has a one year low of $6.67 and a one year high of $11.65. The company’s 50 day moving average price is $8.50 and its 200 day moving average price is $8.20.

Udemy (NASDAQ:UDMY) last issued its earnings results on Thursday, February 13th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.10). The business had revenue of $199.94 million during the quarter, compared to analysts’ expectations of $194.70 million. Udemy had a negative net margin of 10.84% and a negative return on equity of 27.93%. Sell-side analysts forecast that Udemy will post -0.09 EPS for the current fiscal year.

Insider Transactions at Udemy

In related news, Director Heather Hiles sold 14,840 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $9.81, for a total transaction of $145,580.40. Following the sale, the director now directly owns 42,667 shares of the company’s stock, valued at approximately $418,563.27. This represents a 25.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Eren Bali sold 69,482 shares of Udemy stock in a transaction on Friday, February 14th. The stock was sold at an average price of $9.00, for a total transaction of $625,338.00. Following the completion of the transaction, the chief technology officer now directly owns 2,156,050 shares of the company’s stock, valued at approximately $19,404,450. This represents a 3.12 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,284,322 shares of company stock valued at $25,858,918. Insiders own 3.20% of the company’s stock.

Institutional Trading of Udemy

A number of institutional investors and hedge funds have recently modified their holdings of UDMY. Vega Investment Solutions acquired a new stake in Udemy during the fourth quarter worth about $46,000. PharVision Advisers LLC acquired a new stake in shares of Udemy during the 4th quarter worth approximately $144,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Udemy by 17.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 181,864 shares of the company’s stock worth $1,497,000 after purchasing an additional 27,673 shares during the period. Voloridge Investment Management LLC lifted its holdings in shares of Udemy by 11.5% in the 4th quarter. Voloridge Investment Management LLC now owns 254,072 shares of the company’s stock worth $2,091,000 after purchasing an additional 26,289 shares during the last quarter. Finally, Wexford Capital LP acquired a new position in Udemy during the 4th quarter valued at approximately $99,000. 79.48% of the stock is 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.