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

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

Several brokerages have recently issued reports on UDMY. Scotiabank started coverage on shares of Udemy in a report on Thursday, December 5th. They issued a “sector outperform” rating and a $10.00 price target for the company. Cantor Fitzgerald decreased their target price on Udemy from $18.00 to $11.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Needham & Company LLC dropped their price target on Udemy from $15.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Finally, Morgan Stanley cut Udemy from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $10.00 to $7.50 in a report on Friday, September 27th.

Insider Buying and Selling at Udemy

In other Udemy news, CEO Gregory Scott Brown sold 10,000 shares of Udemy stock in a transaction on Friday, December 6th. The shares were sold at an average price of $8.71, for a total value of $87,100.00. Following the sale, the chief executive officer now directly owns 1,183,086 shares in the company, valued at approximately $10,304,679.06. The trade was a 0.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Eren Bali sold 35,518 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $9.00, for a total transaction of $319,662.00. Following the sale, the chief technology officer now directly owns 2,225,532 shares in the company, valued at $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. In the last quarter, insiders have sold 55,518 shares of company stock worth $491,762. Corporate insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Sea Cliff Partners Management LP increased its position in shares of Udemy by 27.9% during the 2nd quarter. Sea Cliff Partners Management LP now owns 3,725,865 shares of the company’s stock worth $32,154,000 after purchasing an additional 811,702 shares during the last quarter. Summit Trail Advisors LLC grew its stake in shares of Udemy by 939.8% in the third quarter. Summit Trail Advisors LLC now owns 366,795 shares of the company’s stock valued at $2,729,000 after buying an additional 331,521 shares in the last quarter. Verition Fund Management LLC acquired a new position in Udemy during the third quarter worth $1,630,000. Algert Global LLC raised its position in Udemy by 150.8% during the second quarter. Algert Global LLC now owns 238,672 shares of the company’s stock worth $2,060,000 after acquiring an additional 143,498 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in Udemy by 106.5% in the third quarter. Assenagon Asset Management S.A. now owns 242,791 shares of the company’s stock valued at $1,806,000 after acquiring an additional 125,235 shares during the last quarter. 79.48% of the stock is owned by institutional investors and hedge funds.

Udemy Trading Up 2.6 %

Udemy stock opened at $8.55 on Thursday. The firm has a market capitalization of $1.25 billion, a P/E ratio of -13.57 and a beta of 1.87. The business has a 50-day moving average of $8.21 and a 200-day moving average of $8.10. Udemy has a 1 year low of $6.67 and a 1 year high of $14.74.

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, beating analysts’ consensus estimates 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 firm had revenue of $195.42 million during the quarter, compared to analysts’ expectations of $192.69 million. During the same quarter in the previous year, the company earned ($0.10) earnings per share. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. Research analysts anticipate that Udemy will post -0.47 EPS 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.