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

Udemy, Inc. (NASDAQ:UDMY) has earned a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $10.95.

Several brokerages have recently commented on UDMY. Canaccord Genuity Group boosted their price target on Udemy from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Scotiabank assumed coverage on Udemy in a research report on Thursday, December 5th. They set a “sector outperform” rating and a $10.00 target price on the stock. Needham & Company LLC reissued a “buy” rating and issued a $11.00 target price on shares of Udemy in a report on Friday, February 14th. Finally, Morgan Stanley lifted their price target on Udemy from $7.50 to $9.00 and gave the stock an “underweight” rating in a research note on Thursday, February 20th.

Insider Buying and Selling at Udemy

In other news, CTO Eren Bali sold 69,482 shares of Udemy stock in a transaction on Friday, February 14th. The stock was sold at an average price of $9.00, for a total value of $625,338.00. Following the completion of the sale, the chief technology officer now owns 2,156,050 shares of the company’s stock, valued at $19,404,450. The trade was a 3.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Heather Hiles sold 14,840 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $9.81, for a total value of $145,580.40. Following the transaction, the director now owns 42,667 shares in the company, valued at $418,563.27. This trade represents a 25.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,284,322 shares of company stock worth $25,858,918. Corporate insiders own 3.20% of the company’s stock.

Institutional Trading of Udemy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UDMY. Geode Capital Management LLC grew its holdings in Udemy by 0.3% in the third quarter. Geode Capital Management LLC now owns 2,216,868 shares of the company’s stock valued at $16,497,000 after purchasing an additional 5,972 shares during the period. State Street Corp grew its stake in shares of 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 buying an additional 15,339 shares during the period. Federated Hermes Inc. grew its stake in shares of Udemy by 1,985.5% during the 4th quarter. Federated Hermes Inc. now owns 1,372,593 shares of the company’s stock valued at $11,296,000 after buying an additional 1,306,778 shares during the period. FMR LLC increased its holdings in shares of Udemy by 2.8% during the 3rd quarter. FMR LLC now owns 1,330,073 shares of the company’s stock worth $9,896,000 after buying an additional 36,380 shares during the last quarter. Finally, Royce & Associates LP raised its position in shares of Udemy by 18.6% in the 4th quarter. Royce & Associates LP now owns 1,119,359 shares of the company’s stock worth $9,212,000 after buying an additional 175,300 shares during the period. Hedge funds and other institutional investors own 79.48% of the company’s stock.

Udemy Price Performance

Udemy stock opened at $9.36 on Friday. The stock’s 50 day moving average price is $8.50 and its 200 day moving average price is $8.20. Udemy has a 1-year low of $6.67 and a 1-year high of $11.65. The company has a market cap of $1.38 billion, a PE ratio of -16.42 and a beta of 1.85.

Udemy (NASDAQ:UDMY) last issued its earnings results on Thursday, February 13th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.10). The company had revenue of $199.94 million for the quarter, compared to analysts’ expectations of $194.70 million. Udemy had a negative return on equity of 27.93% and a negative net margin of 10.84%. On average, equities research analysts anticipate that Udemy will post -0.09 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.