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

Udemy (NASDAQ:UDMY - Get Free Report) was downgraded by Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research note issued on Thursday.

Other equities research analysts also recently issued research reports about the company. Canaccord Genuity Group lowered their price target on Udemy from $14.00 to $12.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. JPMorgan Chase & Co. lowered their price target on Udemy from $11.00 to $8.00 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. Morgan Stanley decreased their price objective on Udemy from $9.00 to $7.00 and set an "underweight" rating on the stock in a report on Wednesday, April 16th. Truist Financial reiterated a "hold" rating and issued a $7.00 price objective (down previously from $10.00) on shares of Udemy in a report on Monday, April 7th. Finally, William Blair downgraded Udemy from an "outperform" rating to a "market perform" rating in a report on Wednesday, March 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Udemy has an average rating of "Moderate Buy" and a consensus target price of $9.86.

Udemy Price Performance

NASDAQ UDMY traded up $0.09 during trading hours on Thursday, reaching $6.86. 143,529 shares of the stock traded hands, compared to its average volume of 976,359. The stock has a 50 day simple moving average of $7.04 and a two-hundred day simple moving average of $7.92. Udemy has a 1 year low of $5.68 and a 1 year high of $10.61. The company has a market cap of $1.02 billion, a price-to-earnings ratio of -12.04 and a beta of 1.82.

Udemy (NASDAQ:UDMY - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.12 earnings per share for the quarter, beating analysts' consensus estimates of $0.10 by $0.02. Udemy had a negative return on equity of 27.93% and a negative net margin of 10.84%. The business had revenue of $200.30 million for the quarter, compared to the consensus estimate of $197.19 million. During the same quarter last year, the business posted $0.03 earnings per share. The company's revenue for the quarter was up 1.8% on a year-over-year basis. On average, sell-side analysts forecast that Udemy will post -0.09 EPS for the current fiscal year.

Insider Activity at Udemy

In other Udemy news, CEO Gregory Scott Brown sold 10,000 shares of Udemy stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $9.43, for a total transaction of $94,300.00. Following the sale, the chief executive officer now directly owns 1,141,896 shares of the company's stock, valued at approximately $10,768,079.28. The trade was a 0.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Hugo Sarrazin acquired 5,432 shares of the business's stock in a transaction 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 transaction, the chief executive officer now owns 8,832 shares in the company, valued at approximately $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 10,600 shares of company stock worth $74,076 and have sold 20,846 shares worth $181,268. 2.10% of the stock is owned by company insiders.

Institutional Trading of Udemy

Large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its position in shares of Udemy by 26.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 198,387 shares of the company's stock worth $1,476,000 after purchasing an additional 41,145 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of 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 in the last quarter. SG Americas Securities LLC boosted its position in shares of Udemy by 22.2% in the 4th quarter. SG Americas Securities LLC now owns 29,674 shares of the company's stock worth $244,000 after purchasing an additional 5,384 shares in the last quarter. Falcon Wealth Planning bought a new stake in shares of Udemy in the 4th quarter worth approximately $85,000. Finally, Handelsbanken Fonder AB boosted its position in shares of Udemy by 45.2% in the 4th quarter. Handelsbanken Fonder AB now owns 15,100 shares of the company's stock worth $124,000 after purchasing an additional 4,700 shares in the last quarter. 79.48% of the stock is owned by 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.

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