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

Udemy, Inc. (NASDAQ:UDMY) has been given a consensus rating of “Moderate Buy” by the thirteen ratings firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $10.92.

UDMY has been the topic of a number of analyst reports. Needham & Company LLC reduced their target price on shares of Udemy from $15.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Morgan Stanley lowered shares of Udemy from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $10.00 to $7.50 in a research report on Friday, September 27th. Cantor Fitzgerald lowered their price objective on Udemy from $18.00 to $11.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Finally, Scotiabank started coverage on Udemy in a research report on Thursday, December 5th. They issued a “sector outperform” rating and a $10.00 target price on the stock.

Insider Activity at Udemy

In other Udemy news, CTO Eren Bali sold 35,518 shares of the stock in a transaction dated 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 of the company’s stock, valued at $20,029,788. This trade represents a 1.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Gregory Scott Brown sold 10,000 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $8.50, for a total value of $85,000.00. Following the transaction, the chief executive officer now directly owns 1,203,727 shares of the company’s stock, valued at approximately $10,231,679.50. This represents a 0.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,518 shares of company stock worth $491,762. Corporate insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its holdings in shares of Udemy by 18.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 330,044 shares of the company’s stock valued at $2,848,000 after purchasing an additional 50,473 shares in the last quarter. Versor Investments LP purchased a new position in Udemy in the second quarter valued at $313,000. Rhumbline Advisers lifted its holdings 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 last quarter. Arizona State Retirement System lifted its holdings in Udemy by 24.4% during the 2nd quarter. Arizona State Retirement System now owns 23,597 shares of the company’s stock worth $204,000 after buying an additional 4,635 shares during the last quarter. Finally, Quest Partners LLC boosted its position in shares of Udemy by 6,957.5% during the 2nd quarter. Quest Partners LLC now owns 8,963 shares of the company’s stock worth $77,000 after acquiring an additional 8,836 shares in the last quarter. Hedge funds and other institutional investors own 79.48% of the company’s stock.

Udemy Stock Performance

NASDAQ:UDMY opened at $8.06 on Friday. Udemy has a one year low of $6.67 and a one year high of $15.10. The stock has a market cap of $1.18 billion, a PE ratio of -12.79 and a beta of 1.91. The stock has a 50 day moving average price of $8.16 and a 200 day moving average price of $8.09.

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