Udemy, Inc. (NASDAQ:UDMY – Get Free Report) was the target of a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 6,380,000 shares, an increase of 31.8% from the May 31st total of 4,840,000 shares. Currently, 8.6% of the shares of the stock are sold short. Based on an average trading volume of 833,400 shares, the short-interest ratio is currently 7.7 days.
Analyst Upgrades and Downgrades
A number of research analysts have commented on the company. TheStreet lowered Udemy from a “c-” rating to a “d+” rating in a research report on Wednesday, March 6th. Robert W. Baird decreased their price objective on Udemy from $15.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $20.00 price objective on shares of Udemy in a research report on Friday, May 3rd. Jefferies Financial Group decreased their price objective on Udemy from $14.00 to $11.00 and set a “hold” rating on the stock in a research report on Monday, April 29th. Finally, KeyCorp reduced their price target on Udemy from $15.00 to $14.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Udemy has a consensus rating of “Moderate Buy” and a consensus target price of $13.90.
Read Our Latest Stock Analysis on Udemy
Insider Buying and Selling
Institutional Trading of Udemy
Hedge funds have recently added to or reduced their stakes in the business. Pathway Capital Management LP acquired a new stake in Udemy during the 4th quarter worth $3,983,000. Partners Group Holding AG acquired a new stake in shares of Udemy in the 4th quarter valued at about $1,928,000. Invenomic Capital Management LP raised its stake in shares of Udemy by 5.5% in the 4th quarter. Invenomic Capital Management LP now owns 2,234,835 shares of the company’s stock valued at $32,919,000 after purchasing an additional 116,432 shares during the period. Greenvale Capital LLP raised its stake in shares of Udemy by 2.3% in the 4th quarter. Greenvale Capital LLP now owns 6,600,000 shares of the company’s stock valued at $97,218,000 after purchasing an additional 150,000 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Udemy by 19.3% in the 3rd quarter. Vanguard Group Inc. now owns 8,860,490 shares of the company’s stock valued at $84,175,000 after purchasing an additional 1,433,980 shares during the period. Institutional investors and hedge funds own 79.48% of the company’s stock.
Udemy Stock Up 2.1 %
Shares of Udemy stock opened at $8.63 on Monday. Udemy has a 12 month low of $7.91 and a 12 month high of $16.01. The stock’s fifty day simple moving average is $9.21 and its 200 day simple moving average is $11.29.
Udemy (NASDAQ:UDMY – Get Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.02. The business had revenue of $196.85 million for the quarter, compared to the consensus estimate of $194.83 million. Udemy had a negative return on equity of 23.10% and a negative net margin of 10.82%. As a group, research analysts anticipate that Udemy will post -0.45 earnings per share for the current 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.
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