Brokerages Set Udemy, Inc. (NASDAQ:UDMY) Target Price at $10.29

Udemy, Inc. (NASDAQ:UDMY - Get Free Report) has received a consensus recommendation of "Hold" from the thirteen research firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $10.29.

Several analysts recently weighed in on UDMY shares. William Blair lowered Udemy from an "outperform" rating to a "market perform" rating in a report on Wednesday, March 12th. Canaccord Genuity Group upped their price objective on Udemy from $12.00 to $14.00 and gave the company a "buy" rating in a research report on Friday, February 14th. Morgan Stanley cut their price objective on Udemy from $9.00 to $7.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 16th. Truist Financial reaffirmed a "hold" rating and issued a $7.00 price objective (down previously from $10.00) on shares of Udemy in a research report on Monday, April 7th. Finally, JPMorgan Chase & Co. cut their price objective on Udemy from $11.00 to $8.00 and set a "neutral" rating on the stock in a research report on Thursday.

Insiders Place Their Bets

In other Udemy news, Director Heather Hiles sold 14,840 shares of the company's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $9.81, for a total transaction of $145,580.40. Following the completion of the transaction, the director now directly owns 42,667 shares in the company, valued at approximately $418,563.27. This represents a 25.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Eren Bali sold 69,482 shares of the company's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $9.00, for a total transaction of $625,338.00. Following the transaction, the chief technology officer now owns 2,156,050 shares of the company's stock, valued at $19,404,450. This represents a 3.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 105,168 shares of company stock worth $952,186. Company insiders own 3.20% of the company's stock.

Institutional Investors Weigh In On Udemy

Hedge funds have recently modified their holdings of the business. SBI Securities Co. Ltd. acquired a new stake in shares of Udemy in the fourth quarter valued at about $31,000. Quarry LP acquired a new stake in shares of Udemy in the fourth quarter valued at about $34,000. Vega Investment Solutions acquired a new stake in shares of Udemy in the fourth quarter valued at about $46,000. GAMMA Investing LLC raised its position in shares of Udemy by 558.3% in the first quarter. GAMMA Investing LLC now owns 6,945 shares of the company's stock valued at $54,000 after buying an additional 5,890 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its position in Udemy by 496.7% during the fourth 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 currently owned by institutional investors and hedge funds.

Udemy Stock Performance

Shares of UDMY traded down $0.01 during mid-day trading on Friday, hitting $6.95. 816,959 shares of the stock were exchanged, compared to its average volume of 980,928. The company has a market cap of $1.03 billion, a PE ratio of -12.19 and a beta of 1.81. Udemy has a 52-week low of $5.68 and a 52-week high of $11.60. The firm has a 50-day moving average of $7.94 and a two-hundred day moving average of $8.08.

Udemy (NASDAQ:UDMY - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $199.94 million for the quarter, compared to analysts' expectations of $194.70 million. On average, sell-side analysts predict that Udemy will post -0.09 EPS 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.