Brokerages Set Udemy, Inc. (NASDAQ:UDMY) Target Price at $10.92

Shares of Udemy, Inc. (NASDAQ:UDMY) have received an average recommendation of “Moderate Buy” from the thirteen brokerages that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $10.92.

A number of analysts have commented on UDMY shares. Cantor Fitzgerald cut their price objective on shares of Udemy from $18.00 to $11.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Scotiabank started coverage on 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 Udemy from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $10.00 to $7.50 in a research note on Friday, September 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 target price on shares of Udemy in a research note on Friday.

Insiders Place Their Bets

In related news, CTO Eren Bali sold 35,518 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $9.00, for a total value of $319,662.00. Following the sale, the chief technology officer now owns 2,225,532 shares in the company, valued at approximately $20,029,788. The trade was a 1.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gregory Scott Brown sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $8.50, for a total value of $85,000.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,518 shares of company stock valued at $491,762 over the last 90 days. 3.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Rhumbline Advisers increased its stake in Udemy by 9.7% during the 2nd quarter. Rhumbline Advisers now owns 131,847 shares of the company’s stock worth $1,138,000 after buying an additional 11,699 shares during the period. Arizona State Retirement System grew its stake in shares of Udemy by 24.4% in the second quarter. Arizona State Retirement System now owns 23,597 shares of the company’s stock worth $204,000 after acquiring an additional 4,635 shares in the last quarter. Quest Partners LLC increased its position in shares of Udemy by 6,957.5% during the second quarter. Quest Partners LLC now owns 8,963 shares of the company’s stock worth $77,000 after acquiring an additional 8,836 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Udemy by 278.0% in the second quarter. Dimensional Fund Advisors LP now owns 86,005 shares of the company’s stock valued at $741,000 after acquiring an additional 63,251 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Udemy in the second quarter valued at $133,000. Hedge funds and other institutional investors own 79.48% of the company’s stock.

Udemy Stock Performance

Shares of UDMY opened at $8.45 on Thursday. The stock has a 50 day moving average price of $8.20 and a 200 day moving average price of $8.09. Udemy has a one year low of $6.67 and a one year high of $14.74. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of -13.41 and a beta of 1.87.

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