Udemy (NASDAQ:UDMY - Get Rating) was downgraded by Zacks Investment Research from a "buy" rating to a "hold" rating in a research note issued to investors on Friday, Zacks.com reports.
According to Zacks, "Udemy Inc. develops educational software solutions. The Company offers an online course in various subjects including technology, Internet, business, creative and performing arts, health and fitness, language and music. Udemy Inc. is based in San Francisco, United States. "
UDMY has been the topic of a number of other research reports. Piper Sandler cut their price objective on shares of Udemy from $24.00 to $22.00 and set an "overweight" rating on the stock in a report on Thursday, February 10th. KeyCorp lowered their price target on Udemy from $20.00 to $15.00 in a report on Thursday, May 5th. Robert W. Baird reduced their price objective on Udemy from $25.00 to $18.00 in a report on Thursday, May 5th. Needham & Company LLC dropped their target price on shares of Udemy from $25.00 to $17.00 in a report on Thursday, May 5th. Finally, Cantor Fitzgerald began coverage on Udemy in a research note on Tuesday, March 29th. They set an "overweight" rating and a $22.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $26.85.
Shares of UDMY stock traded up $0.86 during trading hours on Friday, reaching $12.21. The stock had a trading volume of 8,084 shares, compared to its average volume of 596,765. The stock has a fifty day simple moving average of $11.82. Udemy has a 12 month low of $9.66 and a 12 month high of $32.62.
Udemy (NASDAQ:UDMY - Get Rating) last announced its quarterly earnings results on Wednesday, May 4th. The company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.06. The firm had revenue of $152.20 million for the quarter, compared to analysts' expectations of $146.63 million. The company's quarterly revenue was up 22.2% on a year-over-year basis. During the same period in the previous year, the company earned ($0.21) EPS. Analysts anticipate that Udemy will post -0.94 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently modified their holdings of the company. Insight Holdings Group LLC purchased a new position in Udemy in the 4th quarter worth $819,390,000. Naspers Ltd. purchased a new position in shares of Udemy in the fourth quarter worth about $334,541,000. Caledonia Private Investments Pty Ltd acquired a new stake in shares of Udemy during the fourth quarter worth about $53,883,000. BlackRock Inc. purchased a new stake in Udemy in the fourth quarter valued at approximately $34,673,000. Finally, Norges Bank acquired a new position in Udemy in the 4th quarter worth approximately $28,793,000. Hedge funds and other institutional investors own 66.69% of the company's stock.
About Udemy (Get Rating)
Udemy, Inc operates a marketplace platform for teaching and learning skills in the United States and internationally. The company offers technical and business skills, and personal development courses for individual learners and enterprise customers. Its platform provides 49 million learners with access to approximately 180,000 courses through direct-to-consumer or Udemy Business offerings in approximately 75 languages.
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