Udemy, Inc. (NASDAQ:UDMY) Receives $10.95 Average Price Target from Analysts

Udemy, Inc. (NASDAQ:UDMY - Get Free Report) has received a consensus rating of "Moderate Buy" from the twelve analysts that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $10.95.

A number of research analysts recently weighed in on the stock. William Blair cut shares of Udemy from an "outperform" rating to a "market perform" rating in a report on Wednesday, March 12th. Canaccord Genuity Group boosted their price target on shares of Udemy from $12.00 to $14.00 and gave the stock a "buy" rating in a research note on Friday, February 14th. Needham & Company LLC reiterated a "buy" rating and issued a $11.00 price objective on shares of Udemy in a research note on Wednesday, March 12th. Finally, Morgan Stanley boosted their target price on Udemy from $7.50 to $9.00 and gave the stock an "underweight" rating in a research note on Thursday, February 20th.

Udemy Trading Down 7.6 %

Udemy stock traded down $0.55 during trading on Tuesday, hitting $6.65. The company had a trading volume of 1,637,787 shares, compared to its average volume of 939,409. The stock has a market cap of $982.50 million, a price-to-earnings ratio of -11.67 and a beta of 1.81. Udemy has a 1-year low of $6.44 and a 1-year high of $11.60. The company's 50 day simple moving average is $8.54 and its 200-day simple moving average is $8.24.

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Udemy (NASDAQ:UDMY - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The company reported ($0.03) earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.10). Udemy had a negative net margin of 10.84% and a negative return on equity of 27.93%. The firm had revenue of $199.94 million during the quarter, compared to analyst estimates of $194.70 million. As a group, analysts forecast that Udemy will post -0.09 earnings per share for the current fiscal year.

Insider Transactions at Udemy

In other Udemy news, CEO Gregory Scott Brown sold 10,000 shares of the firm's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $9.43, for a total transaction of $94,300.00. Following the transaction, the chief executive officer now owns 1,141,896 shares of the company's stock, valued at approximately $10,768,079.28. This trade represents a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Ltd Naspers sold 3,200,000 shares of Udemy stock in a transaction dated 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 in the company, valued at $109,139,385.60. This trade represents a 18.69 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,305,168 shares of company stock valued at $26,040,186. Corporate insiders own 3.20% of the company's stock.

Institutional Trading of Udemy

A number of large investors have recently made changes to their positions in UDMY. Point72 DIFC Ltd purchased a new stake in Udemy in the third quarter valued at approximately $30,000. SBI Securities Co. Ltd. purchased a new stake in Udemy in the 4th quarter valued at $31,000. Quarry LP purchased a new stake in Udemy in the 4th quarter valued at $34,000. Vega Investment Solutions acquired a new stake in Udemy during the 4th quarter worth $46,000. Finally, Nisa Investment Advisors LLC grew its position in Udemy by 496.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 7,220 shares of the company's stock worth $59,000 after purchasing an additional 6,010 shares during the last quarter. 79.48% of the stock is owned by institutional investors and hedge funds.

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.