Udemy, Inc. (NASDAQ:UDMY) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Udemy, Inc. (NASDAQ:UDMY - Get Free Report) has received a consensus rating of "Moderate Buy" from the ten analysts that are currently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $13.90.

Several research firms have issued reports on UDMY. TheStreet downgraded Udemy from a "c-" rating to a "d+" rating in a report on Wednesday, March 6th. Robert W. Baird dropped their price objective on Udemy from $15.00 to $13.00 and set an "outperform" rating for the company in a report on Friday, May 3rd. Morgan Stanley reduced their target price on shares of Udemy from $15.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Friday, April 19th. Needham & Company LLC reissued a "buy" rating and set a $15.00 price target on shares of Udemy in a research note on Friday, May 3rd. Finally, Jefferies Financial Group reduced their price objective on shares of Udemy from $14.00 to $11.00 and set a "hold" rating on the stock in a research note on Monday, April 29th.

Insider Activity at Udemy

In other news, CFO Sarah Blanchard sold 45,000 shares of the firm's stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $9.53, for a total transaction of $428,850.00. Following the sale, the chief financial officer now owns 1,096,663 shares of the company's stock, valued at $10,451,198.39. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CFO Sarah Blanchard sold 45,000 shares of the stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $9.53, for a total transaction of $428,850.00. Following the completion of the sale, the chief financial officer now owns 1,096,663 shares of the company's stock, valued at $10,451,198.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Venu Venugopal sold 7,086 shares of the firm's stock in a transaction on Friday, May 17th. The stock was sold at an average price of $9.89, for a total transaction of $70,080.54. Following the sale, the chief technology officer now owns 429,927 shares in the company, valued at $4,251,978.03. The disclosure for this sale can be found here. Insiders sold a total of 68,486 shares of company stock worth $675,241 in the last quarter. Corporate insiders own 3.20% of the company's stock.

Institutional Trading of Udemy

A number of institutional investors have recently modified their holdings of UDMY. Invenomic Capital Management LP raised its position in Udemy by 22.9% in the 1st quarter. Invenomic Capital Management LP now owns 2,747,453 shares of the company's stock valued at $30,167,000 after buying an additional 512,618 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of Udemy by 645.2% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 437,531 shares of the company's stock worth $4,804,000 after acquiring an additional 378,819 shares in the last quarter. Silvercrest Asset Management Group LLC acquired a new stake in shares of Udemy in the first quarter valued at approximately $8,109,000. Natixis lifted its position in shares of Udemy by 60.8% in the first quarter. Natixis now owns 8,967 shares of the company's stock worth $99,000 after purchasing an additional 3,391 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Udemy by 1.2% in the first quarter. Vanguard Group Inc. now owns 9,472,216 shares of the company's stock worth $104,005,000 after purchasing an additional 116,346 shares in the last quarter. 79.48% of the stock is currently owned by institutional investors.

Udemy Price Performance

Shares of UDMY stock traded up $0.18 during trading hours on Friday, hitting $8.63. 2,010,856 shares of the company's stock were exchanged, compared to its average volume of 930,611. Udemy has a 52 week low of $7.91 and a 52 week high of $16.01. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of -16.28 and a beta of 2.02. The stock's 50-day moving average is $9.21 and its 200-day moving average is $11.29.

Udemy (NASDAQ:UDMY - Get Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.02. Udemy had a negative net margin of 10.82% and a negative return on equity of 23.10%. The firm had revenue of $196.85 million during the quarter, compared to analysts' expectations of $194.83 million. Equities research analysts forecast that Udemy will post -0.45 earnings per share for the current fiscal 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.