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

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

UDMY has been the subject of a number of other reports. Morgan Stanley upgraded shares of Udemy from an "underweight" rating to an "equal weight" rating and raised their price objective for the company from $7.00 to $9.00 in a research note on Thursday, June 5th. JPMorgan Chase & Co. reduced their price objective on Udemy from $11.00 to $8.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Cantor Fitzgerald lowered their price target on shares of Udemy from $11.00 to $9.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Needham & Company LLC restated a "buy" rating and issued a $11.00 price objective on shares of Udemy in a research report on Thursday, May 1st. Finally, Robert W. Baird cut their price objective on Udemy from $13.00 to $11.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $10.05.

Udemy Stock Performance

UDMY traded up $0.19 during trading on Friday, reaching $6.91. The stock had a trading volume of 693,301 shares, compared to its average volume of 1,006,152. The stock has a market cap of $1.03 billion, a PE ratio of -15.05 and a beta of 1.77. Udemy has a one year low of $5.68 and a one year high of $10.61. The business has a 50-day moving average of $7.04 and a 200-day moving average of $7.64.

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

Insiders Place Their Bets

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

Hedge Funds Weigh In On Udemy

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP purchased a new position in Udemy during the fourth quarter worth about $34,000. Vega Investment Solutions acquired a new stake in shares of Udemy in the 4th quarter worth about $46,000. GAMMA Investing LLC boosted its holdings in shares of Udemy by 558.3% in the first quarter. GAMMA Investing LLC now owns 6,945 shares of the company's stock valued at $54,000 after acquiring an additional 5,890 shares in the last quarter. State of Wyoming acquired a new stake in Udemy during the fourth quarter valued at approximately $59,000. Finally, Hsbc Holdings PLC purchased a new position in shares of Udemy in the first quarter worth approximately $82,000. 79.48% of the stock is owned by institutional investors and hedge funds.

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.