Udemy, Inc. (NASDAQ:UDMY) Receives $10.29 Consensus Price Target from Brokerages

Udemy, Inc. (NASDAQ:UDMY - Get Free Report) has been given an average recommendation of "Moderate Buy" by the twelve ratings firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $10.23.

Several research analysts have recently weighed in on the stock. William Blair lowered shares of Udemy from an "outperform" rating to a "market perform" rating in a research note on Wednesday, March 12th. Truist Financial reaffirmed a "hold" rating and set a $7.00 target price (down previously from $10.00) on shares of Udemy in a report on Monday, April 7th. JPMorgan Chase & Co. dropped their price target on Udemy from $11.00 to $8.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Needham & Company LLC reissued a "buy" rating and issued a $11.00 price objective on shares of Udemy in a report on Thursday. Finally, Canaccord Genuity Group boosted their price target on Udemy from $12.00 to $14.00 and gave the company a "buy" rating in a research note on Friday, February 14th.

Udemy Stock Down 2.7 %

Udemy stock traded down $0.19 during mid-day trading on Friday, hitting $6.69. 339,613 shares of the company's stock were exchanged, compared to its average volume of 1,222,897. The company's 50 day simple moving average is $7.76 and its 200-day simple moving average is $8.06. Udemy has a fifty-two week low of $5.68 and a fifty-two week high of $11.60. The firm has a market capitalization of $994.27 million, a P/E ratio of -11.72 and a beta of 1.81.

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

Insider Transactions at Udemy

In other news, CTO Eren Bali sold 10,000 shares of the firm's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $8.02, for a total transaction of $80,200.00. Following the transaction, the chief technology officer now directly owns 2,146,050 shares of the company's stock, valued at approximately $17,211,321. This trade represents a 0.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Heather Hiles sold 14,840 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $9.81, for a total value of $145,580.40. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 105,168 shares of company stock valued at $952,186 over the last three months. Company insiders own 3.20% of the company's stock.

Institutional Trading of Udemy

A number of institutional investors and hedge funds have recently bought and sold shares of UDMY. Barclays PLC boosted its holdings in Udemy by 360.6% in the third quarter. Barclays PLC now owns 155,719 shares of the company's stock worth $1,158,000 after purchasing an additional 121,911 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Udemy by 0.3% in the third quarter. Geode Capital Management LLC now owns 2,216,868 shares of the company's stock worth $16,497,000 after buying an additional 5,972 shares during the last quarter. JPMorgan Chase & Co. grew its position in Udemy by 26.2% during the third quarter. JPMorgan Chase & Co. now owns 198,387 shares of the company's stock valued at $1,476,000 after buying an additional 41,145 shares during the period. Mirador Capital Partners LP bought a new position in Udemy in the fourth quarter worth approximately $148,000. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Udemy by 496.7% during 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 during the last quarter. 79.48% of the stock is currently owned by institutional investors.

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.