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

Shares of Udemy, Inc. (NASDAQ:UDMY) have earned a consensus recommendation of “Moderate Buy” from the eleven analysts that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $10.95.

UDMY has been the topic of a number of analyst reports. Scotiabank initiated coverage on shares of Udemy in a research note on Thursday, December 5th. They issued a “sector outperform” rating and a $10.00 price target on the stock. Canaccord Genuity Group upped their price target on shares of Udemy from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Needham & Company LLC reiterated a “buy” rating and issued a $11.00 price target on shares of Udemy in a research note on Friday, February 14th. Finally, Morgan Stanley upped their price target on shares of Udemy from $7.50 to $9.00 and gave the stock an “underweight” rating in a research note on Thursday, February 20th.

Udemy Trading Up 0.9 %

Shares of UDMY stock opened at $9.16 on Friday. Udemy has a 12 month low of $6.67 and a 12 month high of $11.65. The stock has a market cap of $1.35 billion, a PE ratio of -16.07 and a beta of 1.76. The company’s fifty day moving average price is $8.58 and its 200-day moving average price is $8.24.

Udemy (NASDAQ:UDMY) last announced its earnings results on Thursday, February 13th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.10). Udemy had a negative net margin of 10.84% and a negative return on equity of 27.93%. The business had revenue of $199.94 million for the quarter, compared to the consensus estimate of $194.70 million. On average, sell-side analysts forecast that Udemy will post -0.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Heather Hiles sold 14,840 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $9.81, for a total transaction of $145,580.40. Following the completion of the sale, the director now owns 42,667 shares of the company’s stock, valued at $418,563.27. This represents a 25.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Ltd Naspers sold 3,200,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $7.84, for a total transaction of $25,088,000.00. Following the sale, the insider now directly owns 13,920,840 shares of the company’s stock, valued at $109,139,385.60. The trade was a 18.69 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,294,322 shares of company stock valued at $25,953,218. 3.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Udemy

Several hedge funds and other institutional investors have recently made changes to their positions in UDMY. Point72 DIFC Ltd purchased a new stake in shares of Udemy during the 3rd quarter valued at about $30,000. SBI Securities Co. Ltd. purchased a new stake in Udemy in the 4th quarter worth approximately $31,000. Quarry LP purchased a new stake in Udemy in the 4th quarter worth approximately $34,000. Vega Investment Solutions purchased a new stake in Udemy in the 4th quarter worth approximately $46,000. Finally, Nisa Investment Advisors LLC increased its holdings in Udemy by 496.7% in the 4th 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 in the last quarter. Hedge funds and other institutional investors 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.