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

Shares of Udemy, Inc. (NASDAQ:UDMY) have received a consensus recommendation of “Moderate Buy” from the thirteen research firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $10.92.

A number of analysts have recently weighed in on UDMY shares. 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. Morgan Stanley downgraded Udemy from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $10.00 to $7.50 in a report on Friday, September 27th. Scotiabank assumed coverage on shares of Udemy in a report on Thursday, December 5th. They set a “sector outperform” rating and a $10.00 price objective on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $11.00 target price on shares of Udemy in a research note on Friday.

Insider Buying and Selling

In other news, CTO Eren Bali sold 35,518 shares of Udemy stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $9.00, for a total transaction of $319,662.00. Following the completion of the transaction, the chief technology officer now directly owns 2,225,532 shares of the company’s stock, valued at $20,029,788. The trade was a 1.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gregory Scott Brown sold 10,000 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $8.50, for a total transaction of $85,000.00. Following the sale, the chief executive officer now directly owns 1,203,727 shares in the company, valued at $10,231,679.50. This trade represents a 0.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,518 shares of company stock valued at $491,762 over the last 90 days. Insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Point72 DIFC Ltd acquired a new stake in Udemy in the 3rd quarter valued at $30,000. Nisa Investment Advisors LLC lifted its holdings in Udemy by 496.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 7,220 shares of the company’s stock valued at $59,000 after purchasing an additional 6,010 shares in the last quarter. Ariadne Wealth Management LP purchased a new position in Udemy during the second quarter valued at $67,000. Victory Capital Management Inc. acquired a new stake in shares of Udemy in the third quarter valued at about $75,000. Finally, Quest Partners LLC increased its stake in shares of Udemy by 6,957.5% during the second quarter. Quest Partners LLC now owns 8,963 shares of the company’s stock worth $77,000 after purchasing an additional 8,836 shares in the last quarter. Institutional investors and hedge funds own 79.48% of the company’s stock.

Udemy Stock Performance

UDMY stock opened at $8.45 on Thursday. Udemy has a one year low of $6.67 and a one year high of $14.74. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of -13.41 and a beta of 1.87. The firm has a 50-day simple moving average of $8.20 and a two-hundred day simple moving average of $8.09.

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