Brokerages Set Udemy, Inc. (NASDAQ:UDMY) Target Price at $9.86

Udemy, Inc. (NASDAQ:UDMY - Get Free Report) has been given a consensus rating of "Moderate Buy" by the twelve ratings firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $9.86.

Several equities analysts have recently issued reports on UDMY shares. Needham & Company LLC reaffirmed a "buy" rating and set a $11.00 price target on shares of Udemy in a research note on Thursday, May 1st. Robert W. Baird cut their target price on shares of Udemy from $13.00 to $11.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Wall Street Zen lowered shares of Udemy from a "strong-buy" rating to a "buy" rating in a research note on Thursday. Canaccord Genuity Group dropped their price target on shares of Udemy from $14.00 to $12.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Finally, Cantor Fitzgerald cut their price objective on shares of Udemy from $11.00 to $9.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st.

Udemy Stock Performance

Shares of NASDAQ UDMY traded up $0.04 during trading on Wednesday, reaching $6.87. The company had a trading volume of 870,222 shares, compared to its average volume of 979,591. Udemy has a 52 week low of $5.68 and a 52 week high of $10.61. The business's 50 day moving average price is $6.94 and its 200-day moving average price is $7.87. The stock has a market cap of $1.02 billion, a PE ratio of -12.05 and a beta of 1.82.

Udemy (NASDAQ:UDMY - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.02. The firm had revenue of $200.30 million during the quarter, compared to analysts' expectations of $197.19 million. Udemy had a negative net margin of 10.84% and a negative return on equity of 27.93%. Udemy's revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.03 EPS. Equities analysts anticipate that Udemy will post -0.09 earnings per share for the current year.

Insider Buying and Selling

In other Udemy news, CEO Hugo Sarrazin bought 14,285 shares of the firm's stock in a transaction on Tuesday, May 20th. The stock was purchased at an average cost of $7.00 per share, with a total value of $99,995.00. Following the completion of the purchase, the chief executive officer now owns 24,885 shares in the company, valued at approximately $174,195. The trade was a 134.76% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CTO Eren Bali sold 10,000 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $8.02, for a total value of $80,200.00. Following the completion of the sale, the chief technology officer now owns 2,146,050 shares of the company's stock, valued at $17,211,321. This trade represents a 0.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 47,580 shares of company stock valued at $330,894 and have sold 20,846 shares valued at $181,268. 2.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Udemy

Several institutional investors have recently modified their holdings of UDMY. SBI Securities Co. Ltd. acquired a new stake in Udemy during the 4th quarter worth approximately $31,000. Quarry LP bought a new stake in shares of Udemy during the fourth quarter worth $34,000. Vega Investment Solutions acquired a new stake in shares of Udemy during the fourth quarter worth $46,000. GAMMA Investing LLC raised its holdings in shares of Udemy by 558.3% during the first quarter. GAMMA Investing LLC now owns 6,945 shares of the company's stock worth $54,000 after acquiring an additional 5,890 shares during the period. Finally, State of Wyoming bought a new stake in Udemy in the 4th quarter valued at $59,000. 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.