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

Shares of Udemy, Inc. (NASDAQ:UDMY) have earned a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and seven have given a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $11.00.

Several analysts have recently issued reports on UDMY shares. Canaccord Genuity Group initiated coverage on Udemy in a research note on Thursday, August 8th. They issued a “buy” rating and a $12.00 price objective on the stock. KeyCorp reduced their price target on shares of Udemy from $14.00 to $13.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Cantor Fitzgerald cut their price target on Udemy from $18.00 to $11.00 and set an “overweight” rating for the company in a report on Wednesday. Robert W. Baird lowered their price objective on shares of Udemy from $13.00 to $11.00 and set an “outperform” rating for the company in a research note on Thursday, August 1st. Finally, Needham & Company LLC cut their price objective on shares of Udemy from $15.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday.

Insider Activity at Udemy

In other news, CEO Gregory Scott Brown sold 10,000 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $8.50, for a total value of $85,000.00. Following the sale, the chief executive officer now directly owns 1,203,727 shares in the company, valued at approximately $10,231,679.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Gregory Scott Brown sold 10,000 shares of Udemy stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $8.50, for a total value of $85,000.00. Following the completion of the transaction, the chief executive officer now owns 1,203,727 shares in the company, valued at $10,231,679.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Sarah Blanchard sold 45,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $8.05, for a total value of $362,250.00. Following the transaction, the chief financial officer now owns 1,001,761 shares in the company, valued at approximately $8,064,176.05. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Udemy by 1.2% in the first quarter. Vanguard Group Inc. now owns 9,472,216 shares of the company’s stock valued at $104,005,000 after purchasing an additional 116,346 shares during the period. Sea Cliff Partners Management LP raised its stake in shares of Udemy by 27.9% in the second quarter. Sea Cliff Partners Management LP now owns 3,725,865 shares of the company’s stock worth $32,154,000 after acquiring an additional 811,702 shares during the last quarter. Invenomic Capital Management LP grew its holdings in Udemy by 22.9% during the first quarter. Invenomic Capital Management LP now owns 2,747,453 shares of the company’s stock valued at $30,167,000 after purchasing an additional 512,618 shares during the period. Silvercrest Asset Management Group LLC acquired a new position in shares of Udemy in the first quarter valued at approximately $8,109,000. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of Udemy by 645.2% in the first quarter. Jacobs Levy Equity Management Inc. now owns 437,531 shares of the company’s stock worth $4,804,000 after purchasing an additional 378,819 shares in the last quarter. 79.48% of the stock is owned by hedge funds and other institutional investors.

Udemy Trading Up 2.6 %

NASDAQ:UDMY opened at $8.04 on Friday. The company’s 50 day moving average is $7.95 and its two-hundred day moving average is $8.51. The company has a market cap of $1.21 billion, a PE ratio of -12.76 and a beta of 1.97. Udemy has a twelve month low of $6.67 and a twelve month high of $16.01.

Udemy (NASDAQ:UDMY) last posted its quarterly earnings data on Wednesday, July 31st. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.07). The company had revenue of $194.36 million for the quarter, compared to analyst estimates of $194.17 million. Udemy had a negative return on equity of 26.79% and a negative net margin of 12.33%. As a group, analysts expect that Udemy will post -0.52 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.