Shares of Udemy, Inc. (NASDAQ:UDMY - Get Free Report) have been given a consensus rating of "Moderate Buy" by the eleven ratings firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given 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 $10.95.
A number of equities analysts have weighed in on the company. Canaccord Genuity Group boosted their price objective on Udemy from $12.00 to $14.00 and gave the stock a "buy" rating in a research note on Friday, February 14th. Morgan Stanley raised 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. Needham & Company LLC reaffirmed a "buy" rating and issued a $11.00 price target on shares of Udemy in a research note on Friday, February 14th. Finally, Scotiabank initiated coverage on shares of Udemy in a report on Thursday, December 5th. They issued a "sector outperform" rating and a $10.00 price objective on the stock.
Read Our Latest Stock Analysis on UDMY
Udemy Stock Down 1.0 %
Shares of Udemy stock traded down $0.09 during trading hours on Friday, reaching $9.08. 1,821,202 shares of the company's stock were exchanged, compared to its average volume of 883,988. The business has a fifty day moving average of $8.54 and a two-hundred day moving average of $8.22. The company has a market capitalization of $1.34 billion, a P/E ratio of -15.93 and a beta of 1.76. Udemy has a 1 year low of $6.67 and a 1 year high of $11.65.
Udemy (NASDAQ:UDMY - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The company reported ($0.03) EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.10). The business had revenue of $199.94 million during the quarter, compared to analyst estimates of $194.70 million. Udemy had a negative net margin of 10.84% and a negative return on equity of 27.93%. As a group, research analysts predict that Udemy will post -0.09 EPS for the current year.
Insider Activity at Udemy
In related news, major shareholder Ltd Naspers sold 3,200,000 shares of the company's stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $7.84, for a total transaction of $25,088,000.00. Following the sale, the insider now directly owns 13,920,840 shares in the company, valued at approximately $109,139,385.60. This represents a 18.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gregory Scott Brown sold 10,000 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $9.43, for a total transaction of $94,300.00. Following the completion of the sale, the chief executive officer now directly owns 1,141,896 shares in the company, valued at approximately $10,768,079.28. This represents a 0.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,294,322 shares of company stock worth $25,953,218. Corporate insiders own 3.20% of the company's stock.
Institutional Investors Weigh In On Udemy
Institutional investors have recently modified their holdings of the company. Harbor Capital Advisors Inc. raised its stake in Udemy by 28.9% in the third quarter. Harbor Capital Advisors Inc. now owns 20,433 shares of the company's stock valued at $152,000 after buying an additional 4,581 shares in the last quarter. Entropy Technologies LP acquired a new stake in shares of Udemy during the 3rd quarter worth about $178,000. Victory Capital Management Inc. purchased a new stake in Udemy during the third quarter worth approximately $75,000. Royce & Associates LP lifted its stake in Udemy by 1.1% during the third quarter. Royce & Associates LP now owns 944,059 shares of the company's stock worth $7,024,000 after purchasing an additional 10,650 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new position in Udemy in the third quarter valued at approximately $161,000. 79.48% of the stock is owned by hedge funds and other institutional investors.
Udemy Company Profile
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Get Free ReportUdemy, 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.
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