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

Udemy, Inc. (NASDAQ:UDMY) has received a consensus recommendation of “Moderate Buy” from the twelve research firms that are presently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $12.38.

A number of research analysts have recently commented on UDMY shares. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 price objective on shares of Udemy in a research report on Thursday, August 1st. Cantor Fitzgerald raised Udemy to a “strong-buy” rating in a report on Tuesday, August 13th. KeyCorp reduced their price objective on Udemy from $14.00 to $13.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Robert W. Baird lowered their price objective on Udemy from $13.00 to $11.00 and set an “outperform” rating on the stock in a research report on Thursday, August 1st. Finally, Truist Financial reduced their target price on Udemy from $15.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, August 2nd.

Insider Activity

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. ProShare Advisors LLC increased its position in Udemy by 10.7% in the 1st quarter. ProShare Advisors LLC now owns 16,109 shares of the company’s stock valued at $177,000 after acquiring an additional 1,553 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Udemy by 18.8% during the first quarter. Principal Financial Group Inc. now owns 12,053 shares of the company’s stock valued at $132,000 after purchasing an additional 1,904 shares during the last quarter. Swiss National Bank increased its holdings in shares of Udemy by 2.2% in the first quarter. Swiss National Bank now owns 136,200 shares of the company’s stock valued at $1,495,000 after purchasing an additional 2,900 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Udemy by 6.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 51,780 shares of the company’s stock worth $447,000 after purchasing an additional 3,336 shares during the last quarter. Finally, Natixis lifted its holdings in Udemy by 60.8% during the 1st quarter. Natixis now owns 8,967 shares of the company’s stock worth $99,000 after buying an additional 3,391 shares in the last quarter. 79.48% of the stock is owned by institutional investors.

Udemy Stock Up 4.7 %

Shares of NASDAQ UDMY opened at $8.31 on Friday. Udemy has a 12 month low of $6.67 and a 12 month high of $16.01. The company has a market cap of $1.25 billion, a P/E ratio of -15.68 and a beta of 1.99. The business’s 50 day moving average is $8.04 and its two-hundred day moving average is $9.13.

Udemy (NASDAQ:UDMY) last announced its earnings results on Wednesday, July 31st. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $194.36 million for the quarter, compared to the consensus estimate of $194.17 million. Sell-side analysts expect that Udemy will post -0.52 earnings per share for the current fiscal 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.