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

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

Several equities research analysts have recently commented on UDMY shares. Needham & Company LLC lowered their price target on shares of Udemy from $15.00 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Scotiabank initiated coverage on shares of Udemy in a report on Thursday, December 5th. They set a “sector outperform” rating and a $10.00 target price on the stock. Cantor Fitzgerald reduced their price target 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, Morgan Stanley cut 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.

Insider Transactions at Udemy

In other Udemy news, CTO Eren Bali sold 35,518 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $9.00, for a total transaction of $319,662.00. Following the transaction, the chief technology officer now owns 2,225,532 shares in the company, valued at $20,029,788. This trade represents a 1.57 % 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, CEO Gregory Scott Brown sold 10,000 shares of Udemy stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $8.50, for a total value of $85,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,203,727 shares of the company’s stock, valued at $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 have sold 55,518 shares of company stock worth $491,762. Company insiders own 3.20% of the company’s stock.

Institutional Trading of Udemy

A number of institutional investors and hedge funds have recently made changes to their positions in UDMY. Point72 DIFC Ltd bought a new position in shares of Udemy in the 3rd quarter valued at $30,000. Ariadne Wealth Management LP acquired a new position in shares of Udemy in the second quarter valued at approximately $67,000. Quest Partners LLC increased its stake in shares of Udemy by 6,957.5% in the second quarter. Quest Partners LLC now owns 8,963 shares of the company’s stock valued at $77,000 after buying an additional 8,836 shares during the period. Victory Capital Management Inc. bought a new stake in shares of Udemy in the third quarter worth $75,000. Finally, XTX Topco Ltd acquired a new position in shares of Udemy in the second quarter worth approximately $93,000. Institutional investors own 79.48% of the company’s stock.

Udemy Stock Up 1.9 %

NASDAQ:UDMY opened at $8.13 on Friday. The company’s 50-day moving average price is $8.17 and its two-hundred day moving average price is $8.10. Udemy has a 12 month low of $6.67 and a 12 month high of $15.34. The firm has a market cap of $1.19 billion, a PE ratio of -12.90 and a beta of 1.91.

Udemy (NASDAQ:UDMY) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.07 earnings per share 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 business had revenue of $195.42 million during the quarter, compared to analyst estimates of $192.69 million. During the same quarter last year, the business posted ($0.10) earnings per share. Udemy’s revenue for the quarter was up 5.8% compared to the same quarter last year. On average, research analysts expect that Udemy will post -0.47 EPS 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.