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

Udemy, Inc. (NASDAQ:UDMY) has been given an average rating of “Moderate Buy” by the twelve analysts that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $10.95.

A number of research firms have recently weighed in on UDMY. Scotiabank began coverage on Udemy in a research report on Thursday, December 5th. They issued a “sector outperform” rating and a $10.00 price objective for the company. Morgan Stanley raised their price objective on Udemy from $7.50 to $9.00 and gave the stock an “underweight” rating in a research report on Thursday, February 20th. Canaccord Genuity Group raised their price objective on Udemy from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Needham & Company LLC reissued a “buy” rating and issued a $11.00 price objective on shares of Udemy in a research report on Wednesday. Finally, William Blair cut Udemy from an “outperform” rating to a “market perform” rating in a research report on Wednesday.

Insider Buying and Selling at Udemy

In other Udemy news, CTO Eren Bali sold 69,482 shares of Udemy stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $9.00, for a total transaction of $625,338.00. Following the completion of the transaction, the chief technology officer now owns 2,156,050 shares in the company, valued at approximately $19,404,450. This trade represents a 3.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Ltd Naspers sold 3,200,000 shares of Udemy stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $7.84, for a total value of $25,088,000.00. Following the transaction, the insider now owns 13,920,840 shares of the company’s stock, valued at $109,139,385.60. The trade was a 18.69 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,294,322 shares of company stock worth $25,953,218. Insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Udemy

A number of institutional investors have recently modified their holdings of UDMY. Geode Capital Management LLC increased its stake in shares of Udemy by 0.3% in the 3rd 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 in the last quarter. State Street Corp increased its stake in shares of Udemy by 0.8% in the 3rd quarter. State Street Corp now owns 1,934,473 shares of the company’s stock valued at $14,392,000 after purchasing an additional 15,339 shares in the last quarter. Federated Hermes Inc. increased its stake in shares of Udemy by 1,985.5% in the 4th quarter. Federated Hermes Inc. now owns 1,372,593 shares of the company’s stock valued at $11,296,000 after purchasing an additional 1,306,778 shares in the last quarter. FMR LLC increased its stake in shares of Udemy by 2.8% in the 3rd quarter. FMR LLC now owns 1,330,073 shares of the company’s stock valued at $9,896,000 after purchasing an additional 36,380 shares in the last quarter. Finally, Royce & Associates LP increased its stake 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 valued at $9,212,000 after purchasing an additional 175,300 shares in the last quarter. Hedge funds and other institutional investors own 79.48% of the company’s stock.

Udemy Trading Down 1.5 %

Shares of NASDAQ UDMY opened at $7.91 on Friday. The stock has a market capitalization of $1.17 billion, a PE ratio of -13.88 and a beta of 1.76. The stock’s fifty day simple moving average is $8.57 and its two-hundred day simple moving average is $8.23. Udemy has a 12-month low of $6.67 and a 12-month high of $11.60.

Udemy (NASDAQ:UDMY) last posted its quarterly earnings data on Thursday, February 13th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.10). The business had revenue of $199.94 million during the quarter, compared to analyst estimates 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 analysts predict that Udemy will post -0.09 earnings per share 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.