Udemy, Inc. (NASDAQ:UDMY) Given Average Recommendation of “Moderate Buy” by Brokerages

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

Several brokerages have issued reports on UDMY. Needham & Company LLC dropped their target price on shares of Udemy from $15.00 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Scotiabank assumed coverage on shares of Udemy in a research report on Thursday, December 5th. They set a “sector outperform” rating and a $10.00 price objective on the stock. Morgan Stanley lowered 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. Finally, Cantor Fitzgerald lowered their price target on Udemy from $18.00 to $11.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th.

Insiders Place Their Bets

In other Udemy news, CEO Gregory Scott Brown sold 10,000 shares of the firm’s stock in a transaction 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 directly owns 2,225,532 shares of the company’s stock, valued at approximately $20,029,788. This trade represents a 1.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,518 shares of company stock valued at $491,762 in the last ninety days. Company insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Udemy

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

Udemy Price Performance

UDMY opened at $7.90 on Friday. The company has a fifty day moving average price of $8.17 and a 200-day moving average price of $8.11. The firm has a market capitalization of $1.15 billion, a P/E ratio of -12.54 and a beta of 1.91. Udemy has a one year low of $6.67 and a one year high of $15.34.

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

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.