Udemy, Inc. (NASDAQ:UDMY) Receives $10.00 Average Target Price 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.

Udemy, Inc. (NASDAQ:UDMY - Get Free Report) has been assigned an average rating of "Moderate Buy" from the ten analysts that are presently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $10.00.

Several analysts recently issued reports on UDMY shares. Canaccord Genuity Group cut their target price on Udemy from $14.00 to $12.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Robert W. Baird cut their target price on Udemy from $13.00 to $11.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Needham & Company LLC reiterated a "buy" rating and set a $11.00 target price on shares of Udemy in a research report on Thursday, July 31st. Cantor Fitzgerald increased their target price on Udemy from $9.00 to $10.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Finally, JPMorgan Chase & Co. cut their target price on Udemy from $11.00 to $8.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th.

Insider Buying and Selling

In related news, CEO Hugo Sarrazin bought 22,695 shares of the company's stock in a transaction dated Wednesday, May 21st. The stock was purchased at an average price of $6.91 per share, for a total transaction of $156,822.45. Following the acquisition, the chief executive officer owned 47,580 shares in the company, valued at $328,777.80. This trade represents a 91.20% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Sarah Blanchard sold 25,000 shares of Udemy stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $6.99, for a total value of $174,750.00. Following the completion of the transaction, the chief financial officer owned 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 position. The disclosure for this sale can be found here. In the last quarter, insiders bought 47,580 shares of company stock valued at $330,894. Company insiders own 2.10% of the company's stock.

Hedge Funds Weigh In On Udemy

Institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new position in Udemy during the 4th quarter valued at $164,000. American Century Companies Inc. purchased a new stake in Udemy in the fourth quarter worth $490,000. KLP Kapitalforvaltning AS purchased a new stake in Udemy in the fourth quarter worth $137,000. Arrowstreet Capital Limited Partnership purchased a new stake in Udemy in the fourth quarter worth $4,119,000. Finally, ExodusPoint Capital Management LP purchased a new stake in Udemy in the fourth quarter worth $1,610,000. Hedge funds and other institutional investors own 79.48% of the company's stock.

Udemy Price Performance

Shares of NASDAQ:UDMY traded down $0.54 during mid-day trading on Monday, reaching $7.02. 1,001,454 shares of the company traded hands, compared to its average volume of 1,237,805. The company's 50 day moving average price is $7.14 and its 200-day moving average price is $7.50. The firm has a market cap of $1.05 billion, a PE ratio of -33.44 and a beta of 1.78. Udemy has a 52 week low of $5.68 and a 52 week high of $10.61.

Udemy (NASDAQ:UDMY - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.12 by $0.04. The company had revenue of $199.88 million during 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 was up 2.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.04) EPS. On average, research 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.