Udemy, Inc. (NASDAQ:UDMY) Receives $11.00 Average Price Target from Analysts

Shares of Udemy, Inc. (NASDAQ:UDMY - Get Free Report) have earned an average recommendation of "Moderate Buy" from the twelve research firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $11.00.

A number of equities research analysts have commented on the stock. Bank of America downgraded shares of Udemy from a "buy" rating to a "neutral" rating and set a $8.50 target price for the company. in a research report on Thursday, August 1st. Canaccord Genuity Group assumed coverage on shares of Udemy in a research report on Thursday, August 8th. They issued a "buy" rating and a $12.00 target price for the company. Morgan Stanley downgraded shares of Udemy from an "equal weight" rating to an "underweight" rating and cut their target price for the stock from $10.00 to $7.50 in a research report on Friday, September 27th. Truist Financial cut their target price on shares of Udemy from $15.00 to $10.00 and set a "buy" rating for the company in a research report on Friday, August 2nd. Finally, Cantor Fitzgerald cut 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.

Udemy Price Performance

Shares of UDMY opened at $7.95 on Wednesday. The firm has a 50 day moving average of $7.99 and a 200 day moving average of $8.25. Udemy has a twelve month low of $6.67 and a twelve month high of $16.01.

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

Insider Transactions at Udemy

In related news, CEO Gregory Scott Brown sold 10,000 shares of the company'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 in the company, valued at approximately $10,231,679.50. This represents a 0.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Eren Bali sold 35,518 shares of the company's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $9.00, for a total transaction of $319,662.00. Following the transaction, the chief technology officer now owns 2,225,532 shares in the company, valued at $20,029,788. The trade was a 1.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.20% of the company's stock.

Hedge Funds Weigh In On Udemy

Several hedge funds have recently added to or reduced their stakes in the company. Barclays PLC grew its holdings in Udemy by 360.6% during the 3rd quarter. Barclays PLC now owns 155,719 shares of the company's stock valued at $1,158,000 after purchasing an additional 121,911 shares during the last quarter. Geode Capital Management LLC boosted its position in Udemy by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,216,868 shares of the company's stock valued at $16,497,000 after buying an additional 5,972 shares during the period. State Street Corp boosted its position in Udemy by 0.8% in the 3rd quarter. State Street Corp now owns 1,934,473 shares of the company's stock valued at $14,392,000 after buying an additional 15,339 shares during the period. Point72 DIFC Ltd purchased a new stake in Udemy in the 3rd quarter valued at about $30,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Udemy in the 3rd quarter valued at about $103,000. 79.48% of the stock is currently owned by institutional investors.

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.