Udemy (NASDAQ:UDMY) Stock Rating Reaffirmed by Needham & Company LLC

Udemy (NASDAQ:UDMY - Get Free Report)'s stock had its "buy" rating reissued by equities research analysts at Needham & Company LLC in a research note issued on Thursday, Benzinga reports. They presently have a $15.00 price objective on the stock. Needham & Company LLC's price objective points to a potential upside of 43.13% from the company's previous close.

A number of other research analysts have also commented on UDMY. TheStreet lowered shares of Udemy from a "c-" rating to a "d+" rating in a research note on Wednesday, March 6th. Robert W. Baird upped their price target on shares of Udemy from $15.00 to $17.00 and gave the company an "outperform" rating in a research note on Thursday, February 15th. Cantor Fitzgerald reissued an "overweight" rating and issued a $20.00 price objective on shares of Udemy in a report on Thursday, February 15th. JPMorgan Chase & Co. boosted their price objective on shares of Udemy from $11.00 to $12.00 and gave the company a "neutral" rating in a report on Thursday, February 15th. Finally, Truist Financial boosted their price objective on shares of Udemy from $13.00 to $15.00 and gave the company a "buy" rating in a report on Monday, January 22nd. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $15.00.

Udemy Trading Down 2.1 %

Shares of Udemy stock traded down $0.22 during trading on Thursday, hitting $10.48. 636,817 shares of the stock were exchanged, compared to its average volume of 961,859. Udemy has a 1-year low of $8.17 and a 1-year high of $16.01. The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of -14.97 and a beta of 2.14. The company has a fifty day moving average price of $11.91 and a 200-day moving average price of $12.21.

Udemy (NASDAQ:UDMY - Get Free Report) last announced its quarterly earnings results on Wednesday, February 14th. The company reported ($0.12) EPS for the quarter, beating analysts' consensus estimates of ($0.16) by $0.04. Udemy had a negative net margin of 14.72% and a negative return on equity of 27.31%. The business had revenue of $189.55 million for the quarter, compared to analyst estimates of $185.71 million. Equities research analysts forecast that Udemy will post -0.47 EPS for the current fiscal year.

Insider Transactions at Udemy

In other news, Director Eren Bali sold 15,000 shares of the company's stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $10.97, for a total transaction of $164,550.00. Following the completion of the sale, the director now owns 1,676,050 shares of the company's stock, valued at approximately $18,386,268.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Gregory Scott Brown sold 10,000 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $11.04, for a total value of $110,400.00. Following the completion of the transaction, the chief executive officer now owns 1,163,328 shares of the company's stock, valued at approximately $12,843,141.12. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Eren Bali sold 15,000 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $10.97, for a total transaction of $164,550.00. Following the completion of the transaction, the director now directly owns 1,676,050 shares of the company's stock, valued at approximately $18,386,268.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,981 shares of company stock valued at $570,044. Company insiders own 6.20% of the company's stock.

Hedge Funds Weigh In On Udemy

Several institutional investors and hedge funds have recently added to or reduced their stakes in UDMY. Bank of New York Mellon Corp increased its position in Udemy by 46.3% in the 1st quarter. Bank of New York Mellon Corp now owns 74,335 shares of the company's stock valued at $926,000 after acquiring an additional 23,527 shares during the period. Group One Trading L.P. acquired a new position in Udemy in the 1st quarter valued at approximately $100,000. Rhumbline Advisers increased its position in Udemy by 36.8% in the 1st quarter. Rhumbline Advisers now owns 15,856 shares of the company's stock valued at $198,000 after acquiring an additional 4,262 shares during the period. Vanguard Group Inc. increased its position in Udemy by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 1,256,002 shares of the company's stock valued at $15,650,000 after acquiring an additional 15,141 shares during the period. Finally, Ergoteles LLC acquired a new position in Udemy in the 1st quarter valued at approximately $417,000. 79.48% of the stock is currently owned by institutional investors and hedge funds.

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.