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

Udemy, Inc. (NASDAQ:UDMY) has earned a consensus recommendation of “Moderate Buy” from the twelve research firms that are currently covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $12.38.

Several analysts have recently commented on the stock. Canaccord Genuity Group assumed coverage on shares of Udemy in a research report on Thursday, August 8th. They set a “buy” rating and a $12.00 price target on the stock. KeyCorp decreased their price target on Udemy from $14.00 to $13.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Needham & Company LLC reissued a “buy” rating and set a $15.00 price objective on shares of Udemy in a research report on Thursday, August 1st. Cantor Fitzgerald raised shares of Udemy to a “strong-buy” rating in a research report on Tuesday, August 13th. Finally, Robert W. Baird dropped their price target on shares of Udemy from $13.00 to $11.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st.

Insider Buying and Selling

In other Udemy news, CEO Gregory Scott Brown sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. 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 owns 1,273,406 shares of the company’s stock, valued at approximately $10,823,951. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Udemy news, CEO Gregory Scott Brown sold 10,000 shares of the stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $8.50, for a total value of $85,000.00. Following the sale, the chief executive officer now owns 1,273,406 shares of the company’s stock, valued at approximately $10,823,951. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sarah Blanchard sold 45,000 shares of Udemy stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $8.05, for a total value of $362,250.00. Following the completion of the transaction, the chief financial officer now owns 1,001,761 shares of the company’s stock, valued at approximately $8,064,176.05. The disclosure for this sale can be found here. Insiders have sold a total of 72,000 shares of company stock valued at $599,430 in the last ninety days. Company insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ariadne Wealth Management LP purchased a new stake in shares of Udemy during the 2nd quarter worth $67,000. Quest Partners LLC raised its stake in 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 in the last quarter. XTX Topco Ltd purchased a new stake in Udemy during the 2nd quarter worth about $93,000. Natixis boosted its position in shares of Udemy by 60.8% during the 1st quarter. Natixis now owns 8,967 shares of the company’s stock worth $99,000 after acquiring an additional 3,391 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Udemy by 18.8% in the 1st quarter. Principal Financial Group Inc. now owns 12,053 shares of the company’s stock valued at $132,000 after acquiring an additional 1,904 shares during the last quarter. Institutional investors and hedge funds own 79.48% of the company’s stock.

Udemy Stock Down 0.4 %

Shares of UDMY opened at $8.04 on Friday. Udemy has a 52-week low of $6.67 and a 52-week high of $16.01. The stock has a fifty day simple moving average of $8.04 and a two-hundred day simple moving average of $9.14. The company has a market capitalization of $1.23 billion, a PE ratio of -15.17 and a beta of 1.99.

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 the consensus estimate of ($0.13) by ($0.07). Udemy had a negative return on equity of 26.62% and a negative net margin of 11.39%. The firm had revenue of $194.36 million for the quarter, compared to analyst estimates of $194.17 million. As a group, equities analysts anticipate 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.