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

Key Points

• Udemy, Inc. has received a consensus rating of "Moderate Buy" from ten analysts, with an average 12-month price target of $10.00.
• Insider trading activity included CEO Hugo Sarrazin purchasing 22,695 shares, while CFO Sarah Blanchard sold 25,000 shares, indicating varied insider confidence in the company's future.
• Udemy's stock is down 4.5% recently, with current trading at $7.27 and a market cap of $1.09 billion.

Shares of Udemy, Inc. (NASDAQ:UDMY - Get Free Report) have been given a consensus rating of "Moderate Buy" by the ten analysts that are currently covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $10.00.

Several research firms recently issued reports on UDMY. Morgan Stanley raised shares of Udemy from an "underweight" rating to an "equal weight" rating and increased their price target for the stock from $7.00 to $9.00 in a research report on Thursday, June 5th. Canaccord Genuity Group decreased their price objective 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 lowered their price target on shares of Udemy from $13.00 to $11.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Needham & Company LLC restated a "buy" rating and issued a $11.00 price objective on shares of Udemy in a research report on Thursday, July 31st. Finally, Truist Financial reiterated a "hold" rating and issued a $7.00 price objective (down from $10.00) on shares of Udemy in a research report on Monday, April 7th.

Insider Buying and Selling

In other Udemy news, CEO Hugo Sarrazin acquired 22,695 shares of Udemy stock in a transaction on Wednesday, May 21st. The shares were purchased at an average cost of $6.91 per share, with a total value of $156,822.45. Following the completion of the purchase, the chief executive officer owned 47,580 shares in the company, valued at $328,777.80. The trade was a 91.20% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 transaction, the chief financial officer directly owned 1,077,097 shares in the company, valued at approximately $7,528,908.03. The trade was 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 acquired 47,580 shares of company stock worth $330,894. Insiders own 3.20% of the company's stock.

Institutional Investors Weigh In On Udemy

Several hedge funds have recently bought and sold shares of UDMY. Quarry LP bought a new position in shares of Udemy during the fourth quarter worth about $34,000. Vega Investment Solutions bought a new position in shares of Udemy in the 4th quarter valued at about $46,000. GAMMA Investing LLC boosted its position in 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 purchasing an additional 5,890 shares during the period. New York State Teachers Retirement System acquired a new stake in Udemy during the second quarter worth approximately $58,000. Finally, State of Wyoming acquired a new position in Udemy in the 4th quarter valued at $59,000. 79.48% of the stock is currently owned by institutional investors and hedge funds.

Udemy Stock Down 1.6%

Udemy stock traded down $0.12 during mid-day trading on Monday, reaching $7.31. The company had a trading volume of 1,927,786 shares, compared to its average volume of 1,590,298. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of -34.81 and a beta of 1.78. The company has a 50 day moving average of $7.13 and a 200-day moving average of $7.50. Udemy has a 52 week low of $5.68 and a 52 week high of $10.61.

Udemy (NASDAQ:UDMY - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.04. The business had revenue of $199.88 million for the quarter, compared to the consensus estimate of $196.74 million. Udemy had a negative return on equity of 5.19% and a negative net margin of 3.85%. The firm's revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period last year, the business earned ($0.04) earnings per share. On average, analysts predict that Udemy will post -0.09 earnings per share for the current fiscal year.

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.