Udemy's (UDMY) "Buy" Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Udemy (NASDAQ:UDMY - Free Report) in a report issued on Friday,Benzinga reports. Needham & Company LLC currently has a $11.00 price target on the stock.

A number of other analysts have also recently commented on the company. Cantor Fitzgerald cut their target price on Udemy from $18.00 to $11.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 30th. Scotiabank started coverage on Udemy in a research report on Thursday, December 5th. They set a "sector outperform" rating and a $10.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $10.82.

Udemy Stock Down 0.6 %

Udemy stock traded down $0.06 during midday trading on Friday, reaching $9.95. The company's stock had a trading volume of 2,711,762 shares, compared to its average volume of 986,587. Udemy has a fifty-two week low of $6.67 and a fifty-two week high of $11.65. The company has a market cap of $1.45 billion, a P/E ratio of -15.79 and a beta of 1.85. The business has a 50-day simple moving average of $8.10 and a 200-day simple moving average of $8.00.

Udemy (NASDAQ:UDMY - Get Free Report) last posted its earnings results on Thursday, February 13th. The company reported ($0.03) EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.10). Udemy had a negative return on equity of 29.36% and a negative net margin of 12.33%. The firm had revenue of $199.94 million for the quarter, compared to analyst estimates of $194.70 million. As a group, equities analysts forecast that Udemy will post -0.47 earnings per share for the current year.

Insider Activity at Udemy

In other Udemy news, major shareholder Ltd Naspers sold 3,200,000 shares of Udemy 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. The trade was a 18.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gregory Scott Brown sold 10,000 shares of Udemy stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $8.71, for a total value of $87,100.00. Following the completion of the sale, the chief executive officer now directly owns 1,183,086 shares in the company, valued at $10,304,679.06. This represents a 0.84 % decrease in their position. The disclosure for this sale can be found here. 3.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Udemy

A number of institutional investors have recently added to or reduced their stakes in UDMY. SG Americas Securities LLC purchased a new stake in Udemy in the 3rd quarter valued at approximately $181,000. Assenagon Asset Management S.A. boosted its stake in shares of Udemy by 106.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 242,791 shares of the company's stock worth $1,806,000 after acquiring an additional 125,235 shares in the last quarter. Harbor Capital Advisors Inc. boosted its stake in shares of Udemy by 28.9% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 20,433 shares of the company's stock worth $152,000 after acquiring an additional 4,581 shares in the last quarter. Entropy Technologies LP purchased a new stake in shares of Udemy during the 3rd quarter worth approximately $178,000. Finally, Victory Capital Management Inc. purchased a new stake in shares of Udemy during the 3rd quarter worth approximately $75,000. Hedge funds and other institutional investors own 79.48% of the company's stock.

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.