Udemy (NASDAQ:UDMY) Downgraded by Wall Street Zen to "Buy"

Wall Street Zen lowered shares of Udemy (NASDAQ:UDMY - Free Report) from a strong-buy rating to a buy rating in a research note issued to investors on Thursday.

Other equities research analysts have also issued reports about the company. Truist Financial reaffirmed a "hold" rating and set a $7.00 target price (down from $10.00) on shares of Udemy in a research report on Monday, April 7th. William Blair lowered Udemy from an "outperform" rating to a "market perform" rating in a research report on Wednesday, March 12th. Needham & Company LLC reaffirmed a "buy" rating and set a $11.00 target price on shares of Udemy in a research report on Thursday, May 1st. Morgan Stanley decreased their target price on Udemy from $9.00 to $7.00 and set an "underweight" rating for the company in a research report on Wednesday, April 16th. Finally, Robert W. Baird cut their price target on Udemy from $13.00 to $11.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Udemy presently has an average rating of "Moderate Buy" and an average target price of $9.86.

Udemy Price Performance

Shares of NASDAQ:UDMY traded up $0.43 during trading on Thursday, reaching $7.30. 370,847 shares of the stock were exchanged, compared to its average volume of 977,248. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of -12.78 and a beta of 1.82. The stock has a fifty day moving average of $6.94 and a two-hundred day moving average of $7.87. Udemy has a 1-year low of $5.68 and a 1-year high of $10.61.

Udemy (NASDAQ:UDMY - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.12 EPS for the quarter, beating analysts' consensus estimates of $0.10 by $0.02. The business had revenue of $200.30 million during 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%. Udemy'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. Sell-side analysts forecast that Udemy will post -0.09 EPS for the current year.

Insider Buying and Selling at Udemy

In related news, CTO Eren Bali sold 10,000 shares of the firm's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $8.02, for a total transaction of $80,200.00. Following the transaction, the chief technology officer now directly owns 2,146,050 shares of the company's stock, valued at approximately $17,211,321. This trade represents a 0.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Hugo Sarrazin acquired 5,432 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were purchased at an average cost of $6.99 per share, for a total transaction of $37,969.68. Following the completion of the acquisition, the chief executive officer now owns 8,832 shares in the company, valued at $61,735.68. This represents a 159.76% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 47,580 shares of company stock valued at $330,894 and have sold 20,846 shares valued at $181,268. Insiders own 2.10% of the company's stock.

Hedge Funds Weigh In On Udemy

A number of large investors have recently modified their holdings of UDMY. SBI Securities Co. Ltd. purchased a new position in shares of Udemy during the 4th quarter valued at about $31,000. Quarry LP purchased a new position in Udemy in the 4th quarter worth approximately $34,000. Vega Investment Solutions purchased a new position in Udemy in the 4th quarter worth approximately $46,000. GAMMA Investing LLC increased its stake in Udemy by 558.3% in the 1st 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. Finally, Nisa Investment Advisors LLC increased its stake in Udemy by 496.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 7,220 shares of the company's stock worth $59,000 after purchasing an additional 6,010 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.