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

Udemy, Inc. (NASDAQ:UDMY) has earned an average recommendation of “Moderate Buy” from the twelve brokerages that are covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $12.38.

Several research analysts have commented on the company. Canaccord Genuity Group started coverage on Udemy in a research report on Thursday, August 8th. They set a “buy” rating and a $12.00 price target on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $15.00 target price on shares of Udemy in a report on Thursday, August 1st. Bank of America cut shares of Udemy from a “buy” rating to a “neutral” rating and set a $8.50 price target for the company. in a research note on Thursday, August 1st. KeyCorp dropped their price objective on shares of Udemy from $14.00 to $13.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Finally, Canaccord Genuity Group assumed coverage on shares of Udemy in a research note on Thursday, August 8th. They set a “buy” rating and a $12.00 target price for the company.

Insiders Place Their Bets

In related news, Director Eren Bali sold 15,000 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $9.10, for a total transaction of $136,500.00. Following the transaction, the director now owns 1,639,477 shares of the company’s stock, valued at $14,919,240.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Eren Bali sold 15,000 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $9.10, for a total transaction of $136,500.00. Following the sale, the director now owns 1,639,477 shares of the company’s stock, valued at $14,919,240.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Gregory Scott Brown sold 10,000 shares of the stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $8.50, for a total transaction of $85,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,273,406 shares of the company’s stock, valued at $10,823,951. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 72,000 shares of company stock worth $599,430. Company insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Udemy

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Ariadne Wealth Management LP acquired a new stake in Udemy in the second quarter valued at $67,000. Quest Partners LLC grew its stake in Udemy by 6,957.5% in the 2nd 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 during the last quarter. XTX Topco Ltd acquired a new stake in Udemy in the 2nd quarter valued at about $93,000. Natixis increased its holdings in Udemy by 60.8% during the 1st quarter. Natixis now owns 8,967 shares of the company’s stock valued at $99,000 after acquiring an additional 3,391 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in Udemy by 18.8% during the first quarter. Principal Financial Group Inc. now owns 12,053 shares of the company’s stock worth $132,000 after acquiring an additional 1,904 shares during the last quarter. 79.48% of the stock is owned by institutional investors and hedge funds.

Udemy Price Performance

NASDAQ UDMY opened at $8.04 on Friday. The firm’s fifty day moving average price is $8.04 and its 200 day moving average price is $9.14. Udemy has a 12 month low of $6.67 and a 12 month high of $16.01. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of -15.17 and a beta of 1.99.

Udemy (NASDAQ:UDMY) last issued its quarterly earnings data on Wednesday, July 31st. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.07). Udemy had a negative return on equity of 26.62% and a negative net margin of 11.39%. The firm had revenue of $194.36 million for the quarter, compared to analysts’ expectations of $194.17 million. As a group, sell-side analysts forecast that Udemy will post -0.52 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.