Udemy, Inc. (NASDAQ:UDMY) Receives Average Recommendation of "Moderate Buy" from Brokerages

Udemy, Inc. (NASDAQ:UDMY - Get Free Report) has received an average rating of "Moderate Buy" from the twelve ratings firms that are covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $10.05.

Several research firms recently commented on UDMY. Canaccord Genuity Group reduced their price target on shares of Udemy from $14.00 to $12.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Robert W. Baird dropped their target price on shares of Udemy from $13.00 to $11.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Cantor Fitzgerald dropped their target price on shares of Udemy from $11.00 to $9.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. William Blair downgraded shares of Udemy from an "outperform" rating to a "market perform" rating in a research note on Wednesday, March 12th. Finally, Truist Financial restated a "hold" rating and issued a $7.00 target price (down from $10.00) on shares of Udemy in a research note on Monday, April 7th.

Udemy Price Performance

Shares of Udemy stock traded down $0.02 during trading on Friday, hitting $6.89. The stock had a trading volume of 1,087,596 shares, compared to its average volume of 986,471. The firm's fifty day simple moving average is $6.87 and its 200-day simple moving average is $7.80. The stock has a market cap of $1.02 billion, a PE ratio of -14.98 and a beta of 1.81. Udemy has a 12 month low of $5.68 and a 12 month high of $10.61.

Udemy (NASDAQ:UDMY - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.12 earnings per share (EPS) 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 analyst estimates of $197.19 million. Udemy had a negative net margin of 8.70% and a negative return on equity of 22.68%. The business's revenue was up 1.8% on a year-over-year basis. During the same quarter last year, the business earned $0.03 EPS. Analysts expect that Udemy will post -0.09 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Hugo Sarrazin bought 14,285 shares of the stock in a transaction on Tuesday, May 20th. The stock was bought at an average cost of $7.00 per share, for a total transaction of $99,995.00. Following the completion of the purchase, the chief executive officer now directly 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sarah Blanchard sold 25,000 shares of the firm's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $6.99, for a total transaction of $174,750.00. Following the completion of the sale, the chief financial officer now owns 1,077,097 shares of the company's stock, valued at approximately $7,528,908.03. This trade represents a 2.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 47,580 shares of company stock worth $330,894. Corporate insiders own 2.10% of the company's stock.

Institutional Investors Weigh In On Udemy

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Udemy by 12.2% in the first quarter. Vanguard Group Inc. now owns 10,663,298 shares of the company's stock valued at $82,747,000 after acquiring an additional 1,156,006 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Udemy by 1,814.5% in the first quarter. Assenagon Asset Management S.A. now owns 2,678,641 shares of the company's stock valued at $20,786,000 after acquiring an additional 2,538,728 shares in the last quarter. Federated Hermes Inc. boosted its stake in Udemy by 0.6% in the first quarter. Federated Hermes Inc. now owns 1,380,278 shares of the company's stock valued at $10,711,000 after acquiring an additional 7,685 shares in the last quarter. Royce & Associates LP boosted its stake in Udemy by 18.6% in the fourth quarter. Royce & Associates LP now owns 1,119,359 shares of the company's stock valued at $9,212,000 after acquiring an additional 175,300 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Udemy by 6.1% in the fourth quarter. Northern Trust Corp now owns 836,920 shares of the company's stock valued at $6,888,000 after acquiring an additional 48,298 shares in the last quarter. 79.48% of the stock is currently owned by institutional investors and hedge funds.

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.