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

Udemy, Inc. (NASDAQ:UDMY - Get Free Report) has been given a consensus rating of "Moderate Buy" by the twelve brokerages that are covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $10.05.

Several equities analysts have recently weighed in on the stock. Cantor Fitzgerald decreased their price target 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. Wall Street Zen upgraded shares of Udemy from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 7th. Canaccord Genuity Group lowered their target price on Udemy from $14.00 to $12.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Robert W. Baird dropped their price target on Udemy from $13.00 to $11.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $11.00 price target on shares of Udemy in a report on Thursday, May 1st.

Udemy Trading Down 3.5%

NASDAQ:UDMY opened at $6.90 on Friday. The stock has a 50 day moving average of $6.84 and a two-hundred day moving average of $7.82. Udemy has a 12 month low of $5.68 and a 12 month high of $10.61. The firm has a market cap of $1.03 billion, a P/E ratio of -12.11 and a beta of 1.81.

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

Insiders Place Their Bets

In other news, CEO Hugo Sarrazin purchased 22,695 shares of the stock in a transaction dated Wednesday, May 21st. The stock was acquired at an average cost of $6.91 per share, for a total transaction of $156,822.45. Following the completion of the transaction, the chief executive officer now directly owns 47,580 shares in the company, valued at approximately $328,777.80. This represents a 91.20% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Insiders purchased a total of 47,580 shares of company stock valued at $330,894 over the last 90 days. 2.10% of the stock is owned by company insiders.

Institutional Trading of Udemy

A number of institutional investors and hedge funds have recently bought and sold shares of UDMY. Focus Partners Wealth grew its holdings in shares of Udemy by 1.9% in the first quarter. Focus Partners Wealth now owns 79,437 shares of the company's stock valued at $616,000 after purchasing an additional 1,468 shares in the last quarter. Rhumbline Advisers boosted its position in Udemy by 1.2% in the 1st quarter. Rhumbline Advisers now owns 132,289 shares of the company's stock valued at $1,027,000 after buying an additional 1,613 shares during the period. HighTower Advisors LLC increased its position in shares of Udemy by 7.8% during the first quarter. HighTower Advisors LLC now owns 22,551 shares of the company's stock worth $175,000 after acquiring an additional 1,641 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Udemy by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,071 shares of the company's stock worth $420,000 after acquiring an additional 2,399 shares during the period. Finally, MetLife Investment Management LLC raised its stake in shares of Udemy by 6.2% in the fourth quarter. MetLife Investment Management LLC now owns 59,465 shares of the company's stock valued at $489,000 after acquiring an additional 3,450 shares in the last quarter. 79.48% of the stock is currently owned by hedge funds and other institutional investors.

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.

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