Brokerages Set Udemy, Inc. (NASDAQ:UDMY) Price Target at $13.80

Shares of Udemy, Inc. (NASDAQ:UDMY) have received a consensus recommendation of “Moderate Buy” from the ten analysts that are covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $13.80.

Several equities research analysts recently weighed in on UDMY shares. Robert W. Baird decreased their price target on Udemy from $15.00 to $13.00 and set an “outperform” rating for the company in a report on Friday, May 3rd. Cantor Fitzgerald reissued an “overweight” rating and set a $20.00 price target on shares of Udemy in a report on Friday, May 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Udemy in a report on Friday, May 3rd. Jefferies Financial Group cut their target price on Udemy from $14.00 to $11.00 and set a “hold” rating for the company in a research note on Monday, April 29th. Finally, Morgan Stanley decreased their price target on Udemy from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Friday, April 19th.

Udemy Stock Up 1.1 %

Shares of NASDAQ:UDMY opened at $9.24 on Thursday. Udemy has a one year low of $7.91 and a one year high of $16.01. The company has a 50-day simple moving average of $8.57 and a 200-day simple moving average of $10.40.

Udemy (NASDAQ:UDMY) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.02. Udemy had a negative return on equity of 23.10% and a negative net margin of 10.82%. The firm had revenue of $196.85 million during the quarter, compared to the consensus estimate of $194.83 million. Sell-side analysts predict that Udemy will post -0.45 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in UDMY. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Udemy by 5.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,903 shares of the company’s stock valued at $205,000 after buying an additional 732 shares during the last quarter. ProShare Advisors LLC increased its stake in Udemy by 10.7% in the first quarter. ProShare Advisors LLC now owns 16,109 shares of the company’s stock valued at $177,000 after purchasing an additional 1,553 shares during 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 during the period. Swiss National Bank boosted its stake in Udemy by 2.2% in the 1st 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. Finally, Natixis increased its stake in shares of Udemy by 60.8% during the 1st quarter. Natixis now owns 8,967 shares of the company’s stock valued at $99,000 after acquiring an additional 3,391 shares during the last quarter. Institutional investors and hedge funds 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.