Udemy (NASDAQ:UDMY) Given Buy Rating at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Udemy (NASDAQ:UDMY) in a research note released on Thursday morning, Benzinga reports. The firm currently has a $15.00 target price on the stock.

A number of other brokerages have also weighed in on UDMY. KeyCorp decreased their price objective on Udemy from $14.00 to $13.00 and set an overweight rating on the stock in a report on Monday, July 22nd. Robert W. Baird lowered their price target on shares of Udemy from $13.00 to $11.00 and set an outperform rating on the stock in a research report on Thursday. Jefferies Financial Group dropped their price objective on shares of Udemy from $14.00 to $11.00 and set a hold rating for the company in a research note on Monday, April 29th. Bank of America lowered shares of Udemy from a buy rating to a neutral rating and set a $8.50 target price on the stock. in a research note on Thursday. Finally, Morgan Stanley dropped their price target on Udemy from $15.00 to $13.00 and set an equal weight rating for the company in a research report on Friday, April 19th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Udemy has a consensus rating of Moderate Buy and a consensus price target of $12.45.

Udemy Trading Down 1.5 %

UDMY stock opened at $7.41 on Thursday. Udemy has a 12-month low of $6.92 and a 12-month high of $16.01. The business’s 50-day moving average is $8.50 and its 200 day moving average is $10.28. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of -13.98 and a beta of 2.01.

Udemy (NASDAQ:UDMY) last released its earnings results on Thursday, May 2nd. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.02. Udemy had a negative return on equity of 25.00% and a negative net margin of 11.39%. The business had revenue of $196.85 million for the quarter, compared to the consensus estimate of $194.83 million. As a group, equities analysts forecast that Udemy will post -0.45 EPS for the current fiscal year.

Insider Activity

In other news, CTO Venu Venugopal sold 7,086 shares of the company’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $9.89, for a total value of $70,080.54. Following the transaction, the chief technology officer now owns 429,927 shares of the company’s stock, valued at approximately $4,251,978.03. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Sarah Blanchard sold 45,000 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $9.53, for a total transaction of $428,850.00. Following the completion of the transaction, the chief financial officer now owns 1,096,663 shares of the company’s stock, valued at approximately $10,451,198.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Venu Venugopal sold 7,086 shares of Udemy stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $9.89, for a total transaction of $70,080.54. Following the completion of the sale, the chief technology officer now owns 429,927 shares of the company’s stock, valued at approximately $4,251,978.03. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 79,486 shares of company stock valued at $740,941. 3.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in UDMY. Daiwa Securities Group Inc. boosted its stake in shares of Udemy by 261.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 4,730 shares of the company’s stock valued at $70,000 after purchasing an additional 3,420 shares during the period. RIA Advisory Group LLC acquired a new stake in Udemy during the 4th quarter worth approximately $76,000. 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. Principal Financial Group Inc. grew its stake in shares of Udemy by 18.8% in the first quarter. Principal Financial Group Inc. now owns 12,053 shares of the company’s stock worth $132,000 after acquiring an additional 1,904 shares in the last quarter. Finally, ProShare Advisors LLC grew its stake in shares of Udemy by 10.7% in the first quarter. ProShare Advisors LLC now owns 16,109 shares of the company’s stock worth $177,000 after acquiring an additional 1,553 shares in the last quarter. 79.48% of the stock is currently owned by institutional investors and hedge funds.

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.