Udemy, Inc. (NASDAQ:UDMY) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Udemy, Inc. (NASDAQ:UDMY) has been given an average rating of “Moderate Buy” by the thirteen research firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $10.92.

Several research analysts have commented on UDMY shares. Morgan Stanley lowered Udemy from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $10.00 to $7.50 in a research report on Friday, September 27th. Cantor Fitzgerald reduced their price target 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. Needham & Company LLC decreased their price target on shares of Udemy from $15.00 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Finally, Scotiabank began coverage on shares of Udemy in a research note on Thursday, December 5th. They issued a “sector outperform” rating and a $10.00 price objective on the stock.

Insiders Place Their Bets

In other news, CTO Eren Bali sold 35,518 shares of the company’s stock in a transaction on 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 directly owns 2,225,532 shares of the company’s stock, valued at $20,029,788. This represents a 1.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Gregory Scott Brown sold 10,000 shares of the firm’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 completion of the sale, the chief executive officer now owns 1,203,727 shares of the company’s stock, valued at $10,231,679.50. This trade represents a 0.82 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,518 shares of company stock worth $491,762. Company insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Udemy

Several hedge funds have recently bought and sold shares of UDMY. JPMorgan Chase & Co. grew its holdings in Udemy by 26.2% in the third quarter. JPMorgan Chase & Co. now owns 198,387 shares of the company’s stock valued at $1,476,000 after purchasing an additional 41,145 shares during the last quarter. Barclays PLC boosted its position in shares of Udemy by 360.6% in the 3rd quarter. Barclays PLC now owns 155,719 shares of the company’s stock worth $1,158,000 after buying an additional 121,911 shares in the last quarter. Geode Capital Management LLC grew its stake 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 acquiring an additional 5,972 shares during the last quarter. State Street Corp increased its holdings in Udemy by 0.8% during the 3rd quarter. State Street Corp now owns 1,934,473 shares of the company’s stock valued at $14,392,000 after acquiring an additional 15,339 shares in the last quarter. Finally, Point72 DIFC Ltd acquired a new position in Udemy during the third quarter worth about $30,000. 79.48% of the stock is owned by hedge funds and other institutional investors.

Udemy Trading Down 0.9 %

Shares of Udemy stock opened at $8.06 on Friday. The company has a fifty day simple moving average of $8.16 and a 200-day simple moving average of $8.09. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of -12.79 and a beta of 1.91. Udemy has a 12-month low of $6.67 and a 12-month high of $15.10.

Udemy (NASDAQ:UDMY) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.06. Udemy had a negative net margin of 12.33% and a negative return on equity of 29.36%. The company had revenue of $195.42 million during the quarter, compared to the consensus estimate of $192.69 million. During the same quarter in the prior year, the firm posted ($0.10) earnings per share. Udemy’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, analysts forecast that Udemy will post -0.47 earnings per share for the current fiscal year.

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.