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

Udemy, Inc. (NASDAQ:UDMY) has earned a consensus rating of “Moderate Buy” from the twelve ratings firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $11.00.

A number of research analysts recently weighed in on UDMY shares. Morgan Stanley downgraded Udemy from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $10.00 to $7.50 in a research report on Friday, September 27th. Robert W. Baird decreased their target price on Udemy from $13.00 to $11.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st. Canaccord Genuity Group began coverage on shares of Udemy in a research report on Thursday, August 8th. They set a “buy” rating and a $12.00 price objective for the company. Truist Financial lowered their price objective on Udemy from $15.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Finally, Bank of America lowered shares of Udemy from a “buy” rating to a “neutral” rating and set a $8.50 price target on the stock. in a research note on Thursday, August 1st.

Udemy Price Performance

UDMY opened at $7.95 on Wednesday. The stock has a market capitalization of $1.16 billion, a P/E ratio of -12.62 and a beta of 1.95. Udemy has a 12 month low of $6.67 and a 12 month high of $16.01. The business has a 50 day simple moving average of $7.99 and a 200-day simple moving average of $8.25.

Udemy (NASDAQ:UDMY) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.07 EPS for the quarter, topping 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 business had revenue of $195.42 million for the quarter, compared to analyst estimates of $192.69 million. During the same period in the previous year, the firm earned ($0.10) EPS. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. Research analysts anticipate that Udemy will post -0.47 EPS for the current year.

Insider Activity

In other Udemy news, CEO Gregory Scott Brown sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $8.50, for a total value of $85,000.00. Following the transaction, the chief executive officer now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Eren Bali sold 35,518 shares of the business’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 owns 2,225,532 shares in the company, valued at approximately $20,029,788. This represents a 1.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.20% of the company’s stock.

Institutional Trading of Udemy

A number of institutional investors have recently bought and sold shares of UDMY. Point72 DIFC Ltd acquired a new position in Udemy in the 3rd quarter worth about $30,000. Ariadne Wealth Management LP bought a new stake in shares of Udemy in the 2nd quarter valued at approximately $67,000. Victory Capital Management Inc. acquired a new position in Udemy in the third quarter worth approximately $75,000. Quest Partners LLC raised its position in Udemy by 6,957.5% during the second quarter. Quest Partners LLC now owns 8,963 shares of the company’s stock valued at $77,000 after acquiring an additional 8,836 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in Udemy in the second quarter valued at approximately $93,000. Institutional investors and hedge funds own 79.48% of the company’s stock.

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.