Cantor Fitzgerald Predicts Udemy FY2024 Earnings

Udemy, Inc. (NASDAQ:UDMY - Free Report) - Cantor Fitzgerald issued their FY2024 EPS estimates for Udemy in a report issued on Tuesday, January 21st. Cantor Fitzgerald analyst Y. Lee anticipates that the company will post earnings per share of ($0.45) for the year. Cantor Fitzgerald has a "Overweight" rating and a $11.00 price objective on the stock. The consensus estimate for Udemy's current full-year earnings is ($0.47) per share. Cantor Fitzgerald also issued estimates for Udemy's FY2025 earnings at ($0.32) EPS.

Several other equities research analysts also recently issued reports on UDMY. Morgan Stanley downgraded shares of Udemy from an "equal weight" rating to an "underweight" rating and decreased their price objective for the stock from $10.00 to $7.50 in a research note on Friday, September 27th. Scotiabank initiated coverage on shares of Udemy in a research report on Thursday, December 5th. They set a "sector outperform" rating and a $10.00 price target for the company. Finally, Needham & Company LLC reissued a "buy" rating and issued a $11.00 price objective on shares of Udemy in a research report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $10.92.

Udemy Stock Performance

Shares of NASDAQ:UDMY traded up $0.05 during trading on Friday, reaching $7.54. 959,402 shares of the stock were exchanged, compared to its average volume of 762,507. The firm's 50-day moving average price is $8.14 and its 200 day moving average price is $8.07. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of -11.97 and a beta of 1.87. Udemy has a 12-month low of $6.67 and a 12-month high of $14.74.

Udemy (NASDAQ:UDMY - Get Free Report) last issued its earnings results on Tuesday, October 29th. The company reported $0.07 earnings per share for the quarter, beating analysts' consensus estimates of $0.01 by $0.06. The firm had revenue of $195.42 million for the quarter, compared to analysts' expectations of $192.69 million. Udemy had a negative return on equity of 29.36% and a negative net margin of 12.33%. The firm's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.10) earnings per share.

Institutional Investors Weigh In On Udemy

A number of institutional investors have recently made changes to their positions in the company. Sea Cliff Partners Management LP boosted its stake in Udemy by 27.9% in the second quarter. Sea Cliff Partners Management LP now owns 3,725,865 shares of the company's stock valued at $32,154,000 after acquiring an additional 811,702 shares during the period. Summit Trail Advisors LLC grew its stake in Udemy by 939.8% during the 3rd quarter. Summit Trail Advisors LLC now owns 366,795 shares of the company's stock worth $2,729,000 after buying an additional 331,521 shares during the last quarter. Verition Fund Management LLC acquired a new stake in Udemy in the third quarter worth $1,630,000. Algert Global LLC lifted its stake in Udemy by 150.8% in the second quarter. Algert Global LLC now owns 238,672 shares of the company's stock valued at $2,060,000 after buying an additional 143,498 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Udemy by 106.5% during the third quarter. Assenagon Asset Management S.A. now owns 242,791 shares of the company's stock valued at $1,806,000 after acquiring an additional 125,235 shares during the period. 79.48% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Udemy

In related news, CEO Gregory Scott Brown sold 10,000 shares of Udemy stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $8.50, for a total value of $85,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,203,727 shares in the company, valued at approximately $10,231,679.50. This trade represents a 0.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Ltd Naspers sold 3,200,000 shares of the business's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $7.84, for a total value of $25,088,000.00. Following the completion of the sale, the insider now directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,255,518 shares of company stock valued at $25,579,762 in the last three months. Corporate insiders own 3.20% of the company's stock.

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.