Udemy, Inc. (NASDAQ:UDMY) Receives $10.05 Consensus Target Price from Analysts

Udemy, Inc. (NASDAQ:UDMY - Get Free Report) has received an average recommendation of "Moderate Buy" from the twelve ratings firms that are currently covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $10.05.

Several equities analysts have weighed in on UDMY shares. Morgan Stanley upgraded Udemy from an "underweight" rating to an "equal weight" rating and raised their target price for the company from $7.00 to $9.00 in a report on Thursday, June 5th. Needham & Company LLC restated a "buy" rating and issued a $11.00 price objective on shares of Udemy in a research note on Thursday, May 1st. JPMorgan Chase & Co. cut 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. Robert W. Baird reduced their price objective 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. Finally, Truist Financial reiterated a "hold" rating and issued a $7.00 price target (down from $10.00) on shares of Udemy in a research report on Monday, April 7th.

Udemy Price Performance

NASDAQ:UDMY traded down $0.29 during mid-day trading on Thursday, reaching $6.54. The stock had a trading volume of 843,681 shares, compared to its average volume of 1,006,448. The stock has a market cap of $972.69 million, a P/E ratio of -14.22 and a beta of 1.77. The business's 50 day moving average is $7.04 and its 200 day moving average is $7.64. Udemy has a fifty-two week low of $5.68 and a fifty-two week high of $10.61.

Udemy (NASDAQ:UDMY - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.10 by $0.02. Udemy had a negative net margin of 8.70% and a negative return on equity of 22.68%. The company had revenue of $200.30 million for the quarter, compared to analyst estimates of $197.19 million. During the same quarter in the prior year, the business posted $0.03 EPS. Udemy's quarterly revenue was up 1.8% on a year-over-year basis. Equities analysts expect that Udemy will post -0.09 EPS for the current year.

Insider Activity at Udemy

In other news, CEO Hugo Sarrazin bought 22,695 shares of the stock in a transaction dated Wednesday, May 21st. The stock was bought at an average cost of $6.91 per share, with a total value of $156,822.45. Following the purchase, the chief executive officer owned 47,580 shares of the company's stock, valued at approximately $328,777.80. This represents a 91.20% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Sarah Blanchard sold 25,000 shares of the company's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $6.99, for a total transaction of $174,750.00. Following the transaction, the chief financial officer 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. Insiders purchased a total of 47,580 shares of company stock valued at $330,894 in the last 90 days. 2.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Udemy

Several institutional investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. lifted its holdings in Udemy by 1,814.5% during the first quarter. Assenagon Asset Management S.A. now owns 2,678,641 shares of the company's stock worth $20,786,000 after acquiring an additional 2,538,728 shares in the last quarter. Federated Hermes Inc. boosted its stake in Udemy by 1,985.5% in the 4th quarter. Federated Hermes Inc. now owns 1,372,593 shares of the company's stock worth $11,296,000 after purchasing an additional 1,306,778 shares during the period. Vanguard Group Inc. increased its holdings in Udemy by 12.2% during the 1st quarter. Vanguard Group Inc. now owns 10,663,298 shares of the company's stock worth $82,747,000 after purchasing an additional 1,156,006 shares in the last quarter. Millennium Management LLC acquired a new stake in shares of Udemy in the 4th quarter valued at about $5,911,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Udemy in the fourth quarter valued at about $4,119,000. 79.48% of the stock is currently owned by institutional investors and hedge funds.

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.