Analysts Set Udemy, Inc. (NASDAQ:UDMY) Price Target at $10.95

Udemy, Inc. (NASDAQ:UDMY) has earned an average recommendation of “Moderate Buy” from the twelve research firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $10.95.

UDMY has been the subject of several analyst reports. Canaccord Genuity Group upped their price objective on Udemy from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. William Blair cut Udemy from an “outperform” rating to a “market perform” rating in a research report on Wednesday, March 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 price objective on shares of Udemy in a research report on Wednesday, March 12th. Finally, Morgan Stanley increased their target price on shares of Udemy from $7.50 to $9.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th.

Udemy Price Performance

Shares of UDMY opened at $6.65 on Tuesday. The firm has a market capitalization of $982.50 million, a P/E ratio of -11.67 and a beta of 1.81. Udemy has a one year low of $6.44 and a one year high of $11.60. The business has a fifty day moving average of $8.54 and a 200 day moving average of $8.25.

Udemy (NASDAQ:UDMY) last released its quarterly earnings results on Thursday, February 13th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.10). Udemy had a negative net margin of 10.84% and a negative return on equity of 27.93%. The firm had revenue of $199.94 million for the quarter, compared to the consensus estimate of $194.70 million. Analysts expect that Udemy will post -0.09 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CTO Eren Bali sold 69,482 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $9.00, for a total transaction of $625,338.00. Following the sale, the chief technology officer now owns 2,156,050 shares of the company’s stock, valued at $19,404,450. This represents a 3.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Ltd Naspers sold 3,200,000 shares of Udemy stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $7.84, for a total transaction of $25,088,000.00. Following the completion of the transaction, the insider now directly owns 13,920,840 shares of the company’s stock, valued at $109,139,385.60. The trade was a 18.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,305,168 shares of company stock worth $26,040,186. 3.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Udemy

Several hedge funds and other institutional investors have recently made changes to their positions in UDMY. SBI Securities Co. Ltd. purchased a new stake in shares of Udemy in the fourth quarter worth approximately $31,000. Point72 DIFC Ltd bought a new stake in shares of Udemy during the third quarter worth $30,000. Quarry LP bought a new stake in shares of Udemy during the fourth quarter worth $34,000. Vega Investment Solutions purchased a new stake in shares of Udemy during the fourth quarter valued at $46,000. Finally, State of Wyoming bought a new position in shares of Udemy in the fourth quarter worth about $59,000. Hedge funds and other institutional investors own 79.48% of the company’s stock.

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.