Udemy (NASDAQ:UDMY) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Udemy (NASDAQ:UDMY) in a research note issued to investors on Thursday morning, Benzinga reports. Needham & Company LLC currently has a $15.00 price objective on the stock.

A number of other research firms also recently issued reports on UDMY. Robert W. Baird dropped their price target on Udemy from $13.00 to $11.00 and set an outperform rating on the stock in a research note on Thursday. Jefferies Financial Group lowered their target price on Udemy from $14.00 to $11.00 and set a hold rating on the stock in a research report on Monday, April 29th. KeyCorp lowered their target price on Udemy from $14.00 to $13.00 and set an overweight rating on the stock in a research report on Monday, July 22nd. Cantor Fitzgerald lowered their target price on Udemy from $20.00 to $18.00 and set an overweight rating on the stock in a research report on Thursday. Finally, Morgan Stanley lowered their target price on Udemy from $15.00 to $13.00 and set an equal weight rating on the stock in a research report on Friday, April 19th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Udemy currently has a consensus rating of Moderate Buy and an average price target of $12.45.

Udemy Stock Down 0.1 %

Shares of Udemy stock traded down $0.01 on Thursday, reaching $7.51. The company’s stock had a trading volume of 564,803 shares, compared to its average volume of 935,066. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of -13.83 and a beta of 2.01. The firm’s fifty day simple moving average is $8.54 and its two-hundred day simple moving average is $10.37. Udemy has a 52 week low of $6.92 and a 52 week high of $16.01.

Udemy (NASDAQ:UDMY) last posted its earnings results on Thursday, May 2nd. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.02. The business had revenue of $196.85 million during the quarter, compared to analyst estimates of $194.83 million. Udemy had a negative return on equity of 25.00% and a negative net margin of 11.39%. As a group, research analysts predict that Udemy will post -0.45 EPS for the current year.

Insiders Place Their Bets

In other Udemy news, Director Eren Bali sold 15,000 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $9.10, for a total transaction of $136,500.00. Following the completion of the sale, the director now owns 1,639,477 shares in the company, valued at $14,919,240.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Eren Bali sold 15,000 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $9.10, for a total transaction of $136,500.00. Following the transaction, the director now directly owns 1,639,477 shares of the company’s stock, valued at $14,919,240.70. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CTO Venu Venugopal sold 7,086 shares of the company’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $9.89, for a total value of $70,080.54. Following the transaction, the chief technology officer now directly 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. Company insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Udemy

Hedge funds have recently made changes to their positions in the company. Daiwa Securities Group Inc. boosted its holdings in Udemy by 261.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 4,730 shares of the company’s stock valued at $70,000 after purchasing an additional 3,420 shares during the last quarter. RIA Advisory Group LLC purchased a new stake in Udemy in the fourth quarter valued at $76,000. Natixis boosted its holdings in Udemy by 60.8% in the first quarter. Natixis now owns 8,967 shares of the company’s stock valued at $99,000 after purchasing an additional 3,391 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Udemy by 18.8% in the first quarter. Principal Financial Group Inc. now owns 12,053 shares of the company’s stock valued at $132,000 after purchasing an additional 1,904 shares during the last quarter. Finally, ProShare Advisors LLC boosted its holdings 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. 79.48% of the stock is owned by institutional investors and hedge funds.

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.