Brokerages Set Udemy, Inc. (NASDAQ:UDMY) Price Target at $10.92

Shares of Udemy, Inc. (NASDAQ:UDMY - Get Free Report) have received an average rating of "Moderate Buy" from the thirteen analysts that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $10.92.

Several analysts have recently issued reports on the company. Cantor Fitzgerald decreased their price objective on Udemy from $18.00 to $11.00 and set an "overweight" rating on the stock in a report on Wednesday, October 30th. Scotiabank assumed coverage on Udemy in a report on Thursday, December 5th. They set a "sector outperform" rating and a $10.00 price objective on the stock. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $11.00 price objective on shares of Udemy in a report on Friday, January 17th.

Insider Buying and Selling at Udemy

In other Udemy news, major shareholder Ltd Naspers sold 3,200,000 shares of the company's stock in a transaction 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 transaction, the insider now owns 13,920,840 shares of the company's stock, valued at $109,139,385.60. This represents a 18.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Gregory Scott Brown sold 10,000 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $8.71, for a total value of $87,100.00. Following the transaction, the chief executive officer now directly owns 1,183,086 shares in the company, valued at $10,304,679.06. The trade was 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 corporate insiders.

Hedge Funds Weigh In On Udemy

A number of hedge funds and other institutional investors have recently made changes to their positions in UDMY. Point72 DIFC Ltd bought a new position in shares of Udemy during the 3rd quarter worth $30,000. SBI Securities Co. Ltd. bought a new position in shares of Udemy during the 4th quarter worth $31,000. Nisa Investment Advisors LLC grew its position in shares of 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 buying an additional 6,010 shares in the last quarter. Victory Capital Management Inc. bought a new position in shares of Udemy during the 3rd quarter worth $75,000. Finally, Falcon Wealth Planning bought a new position in shares of Udemy during the 4th quarter worth $85,000. Institutional investors own 79.48% of the company's stock.

Udemy Stock Up 1.3 %

NASDAQ UDMY traded up $0.10 during trading hours on Monday, reaching $7.82. The company's stock had a trading volume of 1,056,982 shares, compared to its average volume of 718,951. The firm's 50-day moving average price is $8.05 and its 200-day moving average price is $7.99. Udemy has a 1 year low of $6.67 and a 1 year high of $14.24. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of -12.41 and a beta of 1.85.

Udemy (NASDAQ:UDMY - Get Free Report) last posted its quarterly 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%. Equities research analysts anticipate that Udemy will post -0.47 EPS for the current fiscal 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.