Udemy (NASDAQ:UDMY - Get Free Report) was downgraded by equities research analysts at William Blair from an "outperform" rating to a "market perform" rating in a research report issued on Wednesday, MarketBeat Ratings reports.
Other equities research analysts have also recently issued research reports about the stock. Needham & Company LLC reissued a "buy" rating and set a $11.00 target price on shares of Udemy in a report on Wednesday. Canaccord Genuity Group boosted their target price on shares of Udemy from $12.00 to $14.00 and gave the company a "buy" rating in a report on Friday, February 14th. Scotiabank started coverage on shares of Udemy in a report on Thursday, December 5th. They set a "sector outperform" rating and a $10.00 target price on the stock. Finally, Morgan Stanley boosted their price target on shares of Udemy from $7.50 to $9.00 and gave the company an "underweight" rating in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $10.95.
Get Our Latest Research Report on Udemy
Udemy Trading Up 3.7 %
Shares of NASDAQ:UDMY traded up $0.29 during mid-day trading on Wednesday, reaching $8.20. The company had a trading volume of 1,452,339 shares, compared to its average volume of 900,089. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of -14.39 and a beta of 1.76. The company's 50-day moving average price is $8.57 and its 200-day moving average price is $8.23. Udemy has a one year low of $6.67 and a one year high of $11.60.
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 net margin of 10.84% and a negative return on equity of 27.93%. The business had revenue of $199.94 million for the quarter, compared to the consensus estimate of $194.70 million. On average, research analysts anticipate that Udemy will post -0.09 EPS for the current fiscal year.
Insider Buying and Selling
In related news, CTO Eren Bali sold 69,482 shares of the company's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $9.00, for a total value of $625,338.00. Following the completion of the transaction, the chief technology officer now directly owns 2,156,050 shares in the company, valued at approximately $19,404,450. The trade was a 3.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $25,088,000.00. Following the completion of the transaction, the insider now owns 13,920,840 shares of the company's stock, valued at $109,139,385.60. This trade represents a 18.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,294,322 shares of company stock worth $25,953,218. Corporate insiders own 3.20% of the company's stock.
Institutional Trading of Udemy
Several hedge funds have recently added to or reduced their stakes in UDMY. Entropy Technologies LP bought a new stake in Udemy in the third quarter worth $178,000. Victory Capital Management Inc. bought a new position in shares of Udemy during the third quarter valued at about $75,000. Royce & Associates LP raised its stake in shares of Udemy by 1.1% during the third quarter. Royce & Associates LP now owns 944,059 shares of the company's stock valued at $7,024,000 after acquiring an additional 10,650 shares during the last quarter. Intech Investment Management LLC bought a new position in shares of Udemy during the third quarter valued at about $161,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Udemy by 3.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 761,920 shares of the company's stock valued at $5,669,000 after acquiring an additional 27,959 shares during the last quarter. 79.48% of the stock is owned by institutional investors.
About Udemy
(
Get Free Report)
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.
Further Reading
Before you consider Udemy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Udemy wasn't on the list.
While Udemy currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven best retirement stocks and why they should be in your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
