Udemy, Inc. (NASDAQ:UDMY) Receives $11.92 Average PT from Analysts

Udemy, Inc. (NASDAQ:UDMY) has received a consensus rating of “Moderate Buy” from the twelve research firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $11.92.

Several analysts have issued reports on the stock. Cantor Fitzgerald upgraded shares of Udemy to a “strong-buy” rating in a research report on Tuesday, August 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $15.00 price target on shares of Udemy in a research note on Thursday, August 1st. KeyCorp dropped their price objective on Udemy from $14.00 to $13.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Canaccord Genuity Group started coverage on shares of Udemy in a report on Thursday, August 8th. They issued a “buy” rating and a $12.00 target price on the stock. Finally, Truist Financial lowered their price target on shares of Udemy from $15.00 to $10.00 and set a “buy” rating for the company in a report on Friday, August 2nd.

Insiders Place Their Bets

In other news, CFO Sarah Blanchard sold 45,000 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $8.05, for a total value of $362,250.00. Following the sale, the chief financial officer now owns 1,001,761 shares in the company, valued at $8,064,176.05. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Sarah Blanchard sold 45,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $8.05, for a total transaction of $362,250.00. Following the sale, the chief financial officer now directly owns 1,001,761 shares in the company, valued at $8,064,176.05. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eren Bali sold 15,000 shares of the company’s stock in a transaction dated 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 directly owns 1,639,477 shares of the company’s stock, valued at $14,919,240.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 61,000 shares of company stock valued at $505,830. Insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

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

Udemy Trading Up 1.1 %

UDMY opened at $7.95 on Tuesday. Udemy has a 12 month low of $6.67 and a 12 month high of $16.01. The company has a market cap of $1.20 billion, a PE ratio of -13.95 and a beta of 1.97. The company has a 50 day moving average of $7.75 and a 200 day moving average of $8.71.

Udemy (NASDAQ:UDMY) last released its quarterly earnings data 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 net margin of 11.39% and a negative return on equity of 26.62%. The company had revenue of $194.36 million for the quarter, compared to the consensus estimate of $194.17 million. Research analysts forecast that Udemy will post -0.52 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.