Udemy (NASDAQ:UDMY) Rating Lowered to "Buy" at 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 note issued to investors on Saturday.

Several other equities analysts have also recently weighed in on UDMY. Truist Financial reaffirmed a "hold" rating and issued a $7.00 price target (down previously from $10.00) on shares of Udemy in a research report on Monday, April 7th. Cantor Fitzgerald decreased their price objective on shares of Udemy from $11.00 to $9.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. Robert W. Baird lowered their price target on shares of Udemy from $13.00 to $11.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Morgan Stanley raised shares of Udemy from an "underweight" rating to an "equal weight" rating and lifted their price target for the stock from $7.00 to $9.00 in a report on Thursday, June 5th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $11.00 price target on shares of Udemy in a report on Thursday, May 1st. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $10.05.

Udemy Trading Down 4.2%

Shares of Udemy stock opened at $6.54 on Friday. The business has a 50-day moving average price of $7.04 and a two-hundred day moving average price of $7.64. Udemy has a 1-year low of $5.68 and a 1-year high of $10.61. The company has a market cap of $972.69 million, a P/E ratio of -14.22 and a beta of 1.77.

Udemy (NASDAQ:UDMY - Get Free Report) last released 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 company had revenue of $200.30 million for the quarter, compared to analysts' expectations of $197.19 million. Udemy had a negative net margin of 8.70% and a negative return on equity of 22.68%. The business's revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.03 EPS. Equities research analysts forecast that Udemy will post -0.09 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Sarah Blanchard sold 25,000 shares of Udemy stock in a transaction on Friday, June 13th. The shares were sold at an average price of $6.99, for a total transaction of $174,750.00. Following the completion of the sale, the chief financial officer directly owned 1,077,097 shares of the company's stock, valued at approximately $7,528,908.03. The trade was a 2.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Hugo Sarrazin acquired 22,695 shares of the company's stock in a transaction dated Wednesday, May 21st. The shares were bought at an average cost of $6.91 per share, with a total value of $156,822.45. Following the completion of the acquisition, the chief executive officer directly owned 47,580 shares in the company, valued at $328,777.80. The trade was a 91.20% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 47,580 shares of company stock valued at $330,894 over the last 90 days. Company insiders own 2.10% of the company's stock.

Institutional Trading of Udemy

A number of hedge funds have recently made changes to their positions in UDMY. Assenagon Asset Management S.A. lifted its holdings in shares of 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 worth $20,786,000 after acquiring an additional 2,538,728 shares during the last quarter. Federated Hermes Inc. lifted its stake in Udemy by 1,985.5% in the fourth 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 last quarter. Vanguard Group Inc. lifted its stake in Udemy by 12.2% in the first 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 during the last quarter. Millennium Management LLC bought a new stake in Udemy in the fourth quarter worth $5,911,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in Udemy in the fourth quarter worth $4,119,000. 79.48% of the stock is owned by institutional investors.

Udemy Company Profile

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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