Udemy (NASDAQ:UDMY) Reaches New 1-Year Low – What’s Next?

Udemy, Inc. (NASDAQ:UDMY)’s share price hit a new 52-week low on Friday . The company traded as low as $6.67 and last traded at $6.65, with a volume of 150614 shares. The stock had previously closed at $7.20.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Morgan Stanley raised their target price on shares of Udemy from $7.50 to $9.00 and gave the company an “underweight” rating in a research note on Thursday, February 20th. Canaccord Genuity Group raised their price target on Udemy from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Friday, February 14th. William Blair cut Udemy from an “outperform” rating to a “market perform” rating in a research report on Wednesday, March 12th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 target price on shares of Udemy in a report on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Udemy presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.95.

Udemy Price Performance

The firm has a market capitalization of $982.50 million, a price-to-earnings ratio of -11.67 and a beta of 1.81. The business has a 50 day moving average of $8.54 and a 200 day moving average of $8.25.

Udemy (NASDAQ:UDMY) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($0.03) earnings per share (EPS) 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 net margin of 10.84% and a negative return on equity of 27.93%. On average, sell-side analysts forecast that Udemy, Inc. will post -0.09 EPS for the current fiscal year.

Insider Buying and Selling at Udemy

In related news, Director Heather Hiles sold 14,840 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $9.81, for a total transaction of $145,580.40. Following the completion of the sale, the director now owns 42,667 shares in the company, valued at $418,563.27. This trade represents a 25.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Ltd Naspers sold 3,200,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $7.84, for a total transaction of $25,088,000.00. Following the completion of the transaction, the insider now owns 13,920,840 shares in the company, valued at approximately $109,139,385.60. This trade represents a 18.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,305,168 shares of company stock valued at $26,040,186. 3.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of UDMY. Intech Investment Management LLC acquired a new stake in Udemy during the 3rd quarter valued at $161,000. Charles Schwab Investment Management Inc. increased its stake in shares of Udemy by 3.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 761,920 shares of the company’s stock valued at $5,669,000 after buying an additional 27,959 shares in the last quarter. FMR LLC raised its holdings in shares of Udemy by 2.8% in the third quarter. FMR LLC now owns 1,330,073 shares of the company’s stock valued at $9,896,000 after buying an additional 36,380 shares during the last quarter. Verition Fund Management LLC acquired a new position in Udemy during the 3rd quarter worth about $1,630,000. Finally, Point72 DIFC Ltd bought a new stake in Udemy during the 3rd quarter worth about $30,000. Institutional investors own 79.48% of the company’s stock.

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.