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

Shares of Udemy, Inc. (NASDAQ:UDMY) have been given a consensus rating of “Moderate Buy” by the twelve brokerages that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $10.95.

A number of analysts have recently commented on UDMY shares. William Blair lowered shares of Udemy from an “outperform” rating to a “market perform” rating in a research report on Wednesday, March 12th. Needham & Company LLC reissued a “buy” rating and set a $11.00 price target on shares of Udemy in a research report on Wednesday, March 12th. Morgan Stanley raised their price objective on Udemy from $7.50 to $9.00 and gave the company an “underweight” rating in a report on Thursday, February 20th. Canaccord Genuity Group upped their target price on Udemy from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Finally, Scotiabank assumed coverage on Udemy in a research report on Thursday, December 5th. They set a “sector outperform” rating and a $10.00 price target for the company.

Insiders Place Their Bets

In other Udemy news, Director Heather Hiles sold 14,840 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $9.81, for a total value of $145,580.40. Following the transaction, the director now directly owns 42,667 shares of the company’s stock, valued at $418,563.27. This represents a 25.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Ltd Naspers sold 3,200,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $7.84, for a total value of $25,088,000.00. Following the sale, the insider now owns 13,920,840 shares of the company’s stock, valued at approximately $109,139,385.60. This represents a 18.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,304,322 shares of company stock valued at $26,033,418 over the last 90 days. 3.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Udemy

A number of large investors have recently made changes to their positions in the company. Point72 DIFC Ltd acquired a new position in Udemy in the 3rd quarter valued at $30,000. SBI Securities Co. Ltd. bought a new stake in shares of Udemy in the fourth quarter valued at about $31,000. Quarry LP acquired a new position in shares of Udemy in the fourth quarter valued at about $34,000. Vega Investment Solutions bought a new position in Udemy during the fourth quarter worth about $46,000. Finally, Nisa Investment Advisors LLC increased its position in Udemy by 496.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 7,220 shares of the company’s stock worth $59,000 after acquiring an additional 6,010 shares during the period. Institutional investors own 79.48% of the company’s stock.

Udemy Trading Down 3.2 %

Shares of NASDAQ UDMY opened at $7.76 on Tuesday. The company has a fifty day moving average price of $8.55 and a 200 day moving average price of $8.26. The firm has a market cap of $1.15 billion, a PE ratio of -13.61 and a beta of 1.76. Udemy has a 1-year low of $6.67 and a 1-year high of $11.60.

Udemy (NASDAQ:UDMY) last announced its earnings results on Thursday, February 13th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.10). The firm had revenue of $199.94 million during the quarter, compared to analyst estimates of $194.70 million. Udemy had a negative net margin of 10.84% and a negative return on equity of 27.93%. Equities research analysts forecast that Udemy will post -0.09 EPS 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.