Udemy's (UDMY) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Udemy (NASDAQ:UDMY - Free Report) in a research note released on Thursday,Benzinga reports. They currently have a $11.00 price objective on the stock.

Several other equities analysts also recently commented on UDMY. JPMorgan Chase & Co. dropped their price objective on Udemy from $11.00 to $8.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. 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. Canaccord Genuity Group raised their target price on Udemy from $12.00 to $14.00 and gave the stock a "buy" rating in a research note on Friday, February 14th. William Blair downgraded shares of Udemy from an "outperform" rating to a "market perform" rating in a report on Wednesday, March 12th. Finally, Morgan Stanley decreased their target price on shares of Udemy from $9.00 to $7.00 and set an "underweight" rating on the stock in a report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $9.86.

Udemy Trading Up 1.2 %

Shares of NASDAQ:UDMY traded up $0.08 during mid-day trading on Thursday, hitting $6.39. 330,289 shares of the company traded hands, compared to its average volume of 971,934. The stock has a market cap of $949.65 million, a P/E ratio of -11.16 and a beta of 1.82. The stock has a 50-day moving average price of $7.56 and a two-hundred day moving average price of $8.02. Udemy has a 12-month low of $5.68 and a 12-month high of $10.61.

Udemy (NASDAQ:UDMY - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $200.30 million during the quarter, compared to the consensus estimate of $197.19 million. Udemy had a negative net margin of 10.84% and a negative return on equity of 27.93%. The firm's quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.03 EPS. As a group, analysts expect that Udemy will post -0.09 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Heather Hiles sold 14,840 shares of Udemy stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $9.81, for a total value of $145,580.40. Following the transaction, the director now owns 42,667 shares in the company, valued at approximately $418,563.27. The trade was a 25.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Eren Bali sold 69,482 shares of Udemy stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $9.00, for a total value of $625,338.00. Following the completion of the transaction, the chief technology officer now directly owns 2,156,050 shares in the company, valued at $19,404,450. This trade represents a 3.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 105,168 shares of company stock valued at $952,186 over the last 90 days. Insiders own 3.20% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Y Intercept Hong Kong Ltd boosted its position in Udemy by 482.0% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 113,394 shares of the company's stock valued at $880,000 after buying an additional 93,911 shares during the period. CWM LLC boosted its holdings in shares of Udemy by 1,189.4% during the first quarter. CWM LLC now owns 13,371 shares of the company's stock worth $104,000 after purchasing an additional 12,334 shares during the period. New York State Common Retirement Fund boosted its holdings in shares of Udemy by 18.1% during the first quarter. New York State Common Retirement Fund now owns 27,138 shares of the company's stock worth $211,000 after purchasing an additional 4,159 shares during the period. Teacher Retirement System of Texas bought a new stake in shares of Udemy in the first quarter worth about $97,000. Finally, Assenagon Asset Management S.A. increased its holdings in Udemy by 1,814.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,678,641 shares of the company's stock valued at $20,786,000 after purchasing an additional 2,538,728 shares during the period. 79.48% of the stock is owned by hedge funds and other institutional investors.

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.