Udemy, Inc. (NASDAQ:UDMY) Given Average Recommendation of "Moderate Buy" by Brokerages

Udemy, Inc. (NASDAQ:UDMY - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the thirteen analysts that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $10.92.

Several research firms have recently commented on UDMY. Morgan Stanley lowered Udemy from an "equal weight" rating to an "underweight" rating and lowered their target price for the company from $10.00 to $7.50 in a report on Friday, September 27th. Needham & Company LLC dropped their price objective on shares of Udemy from $15.00 to $11.00 and set a "buy" rating on the stock in a report on Wednesday, October 30th. Scotiabank assumed coverage on shares of Udemy in a research note on Thursday, December 5th. They set a "sector outperform" rating and a $10.00 target price for the company. Finally, Cantor Fitzgerald decreased their target price on shares of Udemy from $18.00 to $11.00 and set an "overweight" rating for the company in a research report on Wednesday, October 30th.

Insider Transactions at Udemy

In related news, CTO Eren Bali sold 35,518 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $9.00, for a total transaction of $319,662.00. Following the completion of the sale, the chief technology officer now directly owns 2,225,532 shares in the company, valued at approximately $20,029,788. This trade represents a 1.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at 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 stock was sold at an average price of $8.71, for a total transaction of $87,100.00. Following the completion of the transaction, the chief executive officer now owns 1,183,086 shares in the company, valued at approximately $10,304,679.06. This trade represents a 0.84 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,518 shares of company stock valued at $491,762. Corporate insiders own 3.20% of the company's stock.

Institutional Investors Weigh In On Udemy

Several hedge funds have recently modified their holdings of the stock. Point72 DIFC Ltd acquired a new stake in Udemy during the 3rd quarter worth about $30,000. Ariadne Wealth Management LP acquired a new stake in shares of Udemy during the second quarter valued at approximately $67,000. Victory Capital Management Inc. purchased a new stake in shares of Udemy in the 3rd quarter valued at approximately $75,000. Quest Partners LLC boosted its stake in Udemy by 6,957.5% in the 2nd quarter. Quest Partners LLC now owns 8,963 shares of the company's stock worth $77,000 after purchasing an additional 8,836 shares during the period. Finally, XTX Topco Ltd purchased a new position in Udemy during the 2nd quarter worth approximately $93,000. 79.48% of the stock is owned by hedge funds and other institutional investors.

Udemy Stock Performance

Shares of NASDAQ UDMY traded up $0.14 during trading on Friday, reaching $7.90. The stock had a trading volume of 1,617,248 shares, compared to its average volume of 883,210. The stock has a market cap of $1.15 billion, a PE ratio of -12.54 and a beta of 1.91. Udemy has a one year low of $6.67 and a one year high of $15.34. The firm's 50 day moving average price is $8.17 and its two-hundred day moving average price is $8.11.

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, topping analysts' consensus estimates of $0.01 by $0.06. Udemy had a negative net margin of 12.33% and a negative return on equity of 29.36%. The company had revenue of $195.42 million for the quarter, compared to analysts' expectations of $192.69 million. During the same period in the prior year, the company earned ($0.10) earnings per share. The firm's revenue was up 5.8% compared to the same quarter last year. On average, research analysts expect that Udemy will post -0.47 earnings per share for the current year.

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.