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

Udemy, Inc. (NASDAQ:UDMY - Get Free Report) has been given an average rating of "Moderate Buy" by the thirteen research firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $10.92.

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

Udemy Stock Performance

NASDAQ:UDMY remained flat at $8.55 on Thursday. 468,403 shares of the company's stock were exchanged, compared to its average volume of 561,420. The stock's 50-day moving average price is $8.20 and its 200-day moving average price is $8.10. The company has a market cap of $1.25 billion, a PE ratio of -13.57 and a beta of 1.87. Udemy has a one year low of $6.67 and a one year high of $14.74.

Udemy (NASDAQ:UDMY - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.07 EPS for the quarter, beating analysts' consensus estimates of $0.01 by $0.06. Udemy had a negative return on equity of 29.36% and a negative net margin of 12.33%. The firm had revenue of $195.42 million during the quarter, compared to the consensus estimate of $192.69 million. During the same quarter in the prior year, the business posted ($0.10) earnings per share. Udemy's revenue for the quarter was up 5.8% on a year-over-year basis. As a group, equities analysts predict that Udemy will post -0.47 EPS for the current fiscal year.

Insider Buying and Selling at Udemy

In related news, CTO Eren Bali sold 35,518 shares of Udemy stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $9.00, for a total value of $319,662.00. Following the sale, the chief technology officer now directly owns 2,225,532 shares in the company, valued at $20,029,788. This trade represents a 1.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Gregory Scott Brown sold 10,000 shares of the business's stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $8.50, for a total transaction of $85,000.00. Following the transaction, 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 0.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,518 shares of company stock worth $491,762 over the last ninety days. Company insiders own 3.20% of the company's stock.

Institutional Investors Weigh In On Udemy

Several large investors have recently made changes to their positions in the company. Sea Cliff Partners Management LP grew its holdings in Udemy by 27.9% in the 2nd quarter. Sea Cliff Partners Management LP now owns 3,725,865 shares of the company's stock worth $32,154,000 after buying an additional 811,702 shares in the last quarter. Summit Trail Advisors LLC boosted its position in Udemy by 939.8% during the 3rd quarter. Summit Trail Advisors LLC now owns 366,795 shares of the company's stock worth $2,729,000 after acquiring an additional 331,521 shares during the period. Verition Fund Management LLC bought a new position in shares of Udemy in the third quarter worth $1,630,000. Algert Global LLC increased its holdings in shares of Udemy by 150.8% during the second quarter. Algert Global LLC now owns 238,672 shares of the company's stock valued at $2,060,000 after purchasing an additional 143,498 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in shares of Udemy by 106.5% during the third quarter. Assenagon Asset Management S.A. now owns 242,791 shares of the company's stock valued at $1,806,000 after purchasing an additional 125,235 shares in the last quarter. Institutional investors and hedge funds 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.