Udemy, Inc. (NASDAQ:UDMY) Receives Average Rating of "Moderate Buy" from Analysts

Udemy, Inc. (NASDAQ:UDMY - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the twelve analysts that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $11.00.

UDMY has been the subject of several research analyst reports. KeyCorp cut their price objective on Udemy from $14.00 to $13.00 and set an "overweight" rating for the company in a research report on Monday, July 22nd. Canaccord Genuity Group initiated coverage on Udemy in a research report on Thursday, August 8th. They issued a "buy" rating and a $12.00 price objective for the company. Morgan Stanley downgraded Udemy from an "equal weight" rating to an "underweight" rating and cut their price objective for the company from $10.00 to $7.50 in a research report on Friday, September 27th. Cantor Fitzgerald cut their price objective on Udemy from $18.00 to $11.00 and set an "overweight" rating for the company in a research report on Wednesday. Finally, Robert W. Baird cut their price objective on Udemy from $13.00 to $11.00 and set an "outperform" rating for the company in a research report on Thursday, August 1st.

Udemy Price Performance

Shares of Udemy stock traded up $0.20 during midday trading on Friday, hitting $8.04. 988,594 shares of the company were exchanged, compared to its average volume of 726,715. The firm has a market cap of $1.21 billion, a P/E ratio of -12.76 and a beta of 1.95. Udemy has a 52 week low of $6.67 and a 52 week high of $16.01. The firm has a 50 day simple moving average of $7.95 and a 200-day simple moving average of $8.49.

Udemy (NASDAQ:UDMY - Get Free Report) last posted its earnings results on Tuesday, October 29th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.01 by $0.06. The business had revenue of $195.42 million during the quarter, compared to the consensus estimate of $192.69 million. Udemy had a negative return on equity of 26.79% and a negative net margin of 12.33%. Udemy's revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.10) EPS. Equities research analysts expect that Udemy will post -0.52 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Gregory Scott Brown sold 10,000 shares of Udemy stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $8.50, for a total transaction of $85,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,203,727 shares of the company's stock, valued at $10,231,679.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Gregory Scott Brown sold 10,000 shares of Udemy stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $8.50, for a total transaction of $85,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,203,727 shares of the company's stock, valued at $10,231,679.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Sarah Blanchard sold 45,000 shares of Udemy stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $8.05, for a total value of $362,250.00. Following the transaction, the chief financial officer now owns 1,001,761 shares in the company, valued at approximately $8,064,176.05. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ariadne Wealth Management LP bought a new position in Udemy during the second quarter worth about $67,000. Quest Partners LLC lifted its holdings in Udemy by 6,957.5% during the second quarter. Quest Partners LLC now owns 8,963 shares of the company's stock worth $77,000 after acquiring an additional 8,836 shares in the last quarter. XTX Topco Ltd bought a new position in Udemy during the second quarter worth about $93,000. Natixis lifted its holdings in Udemy by 60.8% during the first quarter. Natixis now owns 8,967 shares of the company's stock worth $99,000 after acquiring an additional 3,391 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Udemy by 18.8% in the first quarter. Principal Financial Group Inc. now owns 12,053 shares of the company's stock valued at $132,000 after purchasing an additional 1,904 shares in the last quarter. 79.48% of the stock is currently owned by institutional investors.

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.