Udemy's (UDMY) "Hold" Rating Reaffirmed at Truist Financial

Udemy (NASDAQ:UDMY - Get Free Report)'s stock had its "hold" rating reissued by research analysts at Truist Financial in a report issued on Monday, Marketbeat Ratings reports. They presently have a $7.00 price objective on the stock, down from their prior price objective of $10.00. Truist Financial's price target would indicate a potential upside of 14.75% from the stock's current price.

A number of other analysts have also issued reports on the company. William Blair lowered Udemy from an "outperform" rating to a "market perform" rating in a report on Wednesday, March 12th. Morgan Stanley lifted their target price on Udemy from $7.50 to $9.00 and gave the company an "underweight" rating in a research note on Thursday, February 20th. Needham & Company LLC reissued a "buy" rating and issued a $11.00 price target on shares of Udemy in a research report on Wednesday, March 12th. Finally, Canaccord Genuity Group raised their price target on shares of Udemy from $12.00 to $14.00 and gave the stock a "buy" rating in a report on Friday, February 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, Udemy presently has a consensus rating of "Moderate Buy" and a consensus price target of $10.68.

Udemy Stock Down 3.2 %

NASDAQ:UDMY traded down $0.20 during trading hours on Monday, reaching $6.10. 812,078 shares of the company's stock were exchanged, compared to its average volume of 958,910. The company has a market capitalization of $905.76 million, a P/E ratio of -10.70 and a beta of 1.81. Udemy has a 12 month low of $5.68 and a 12 month high of $11.60. The business's 50-day simple moving average is $8.35 and its two-hundred day simple moving average is $8.15.

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Udemy (NASDAQ:UDMY - Get Free Report) last issued its earnings results on Thursday, February 13th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.10). Udemy had a negative return on equity of 27.93% and a negative net margin of 10.84%. The company had revenue of $199.94 million during the quarter, compared to analyst estimates of $194.70 million. As a group, sell-side analysts anticipate that Udemy will post -0.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Gregory Scott Brown sold 10,000 shares of the business's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $9.43, for a total value 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. The trade was a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Heather Hiles sold 14,840 shares of the firm'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 owns 42,667 shares in the company, valued at $418,563.27. The trade was a 25.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,305,168 shares of company stock worth $26,040,186. Corporate insiders own 3.20% of the company's stock.

Institutional Trading of Udemy

Hedge funds have recently added to or reduced their stakes in the business. Point72 DIFC Ltd bought a new stake in shares of Udemy in the third quarter valued at approximately $30,000. SBI Securities Co. Ltd. bought a new stake in Udemy in the 4th quarter valued at $31,000. Quarry LP bought a new position in shares of Udemy during the 4th quarter worth about $34,000. Vega Investment Solutions acquired a new position in shares of Udemy during the fourth quarter valued at about $46,000. Finally, GAMMA Investing LLC lifted its stake 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 period. Institutional investors own 79.48% of the company's stock.

About Udemy

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.