Udemy, Inc. (NASDAQ:UDMY – Get Free Report) saw a large decrease in short interest in the month of February. As of February 28th, there was short interest totalling 5,040,000 shares, a decrease of 16.1% from the February 13th total of 6,010,000 shares. Approximately 6.4% of the shares of the company are short sold. Based on an average daily trading volume, of 1,010,000 shares, the days-to-cover ratio is currently 5.0 days.
Analysts Set New Price Targets
A number of research analysts have recently issued reports on UDMY shares. Needham & Company LLC reiterated a “buy” rating and set a $11.00 target price on shares of Udemy in a research report on Wednesday, March 12th. Morgan Stanley lifted their price target on Udemy from $7.50 to $9.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. Scotiabank began coverage on Udemy in a report on Thursday, December 5th. They set a “sector outperform” rating and a $10.00 price target on the stock. William Blair downgraded Udemy from an “outperform” rating to a “market perform” rating in a research report on Wednesday, March 12th. Finally, Canaccord Genuity Group raised their price objective on Udemy from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $10.95.
Check Out Our Latest Report on UDMY
Insider Buying and Selling
Institutional Investors Weigh In On Udemy
Institutional investors have recently added to or reduced their stakes in the business. Point72 DIFC Ltd purchased a new stake in Udemy in the third quarter valued at approximately $30,000. SBI Securities Co. Ltd. acquired a new position in shares of Udemy in the fourth quarter valued at approximately $31,000. Quarry LP acquired a new position in Udemy during the fourth quarter worth $34,000. Vega Investment Solutions acquired a new position in Udemy during the fourth quarter worth $46,000. Finally, Nisa Investment Advisors LLC grew its holdings in Udemy by 496.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 7,220 shares of the company’s stock worth $59,000 after acquiring an additional 6,010 shares during the period. Hedge funds and other institutional investors own 79.48% of the company’s stock.
Udemy Stock Performance
Shares of Udemy stock opened at $8.39 on Tuesday. Udemy has a one year low of $6.67 and a one year high of $11.60. The company has a market cap of $1.24 billion, a PE ratio of -14.72 and a beta of 1.76. The business has a 50-day simple moving average of $8.56 and a 200-day simple moving average of $8.24.
Udemy (NASDAQ:UDMY – Get Free Report) last posted its earnings results on Thursday, February 13th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.10). The business had revenue of $199.94 million for the quarter, compared to analysts’ expectations of $194.70 million. Udemy had a negative return on equity of 27.93% and a negative net margin of 10.84%. On average, sell-side analysts predict that Udemy will post -0.09 earnings per share for the current fiscal year.
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.
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