Udemy, Inc. (NASDAQ:UDMY - Get Free Report)'s share price gapped up prior to trading on Friday . The stock had previously closed at $6.98, but opened at $7.39. Udemy shares last traded at $7.51, with a volume of 564,032 shares.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on the stock. Wall Street Zen downgraded shares of Udemy from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. Morgan Stanley raised 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. Robert W. Baird dropped their target price on Udemy from $13.00 to $11.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Canaccord Genuity Group decreased their price target on Udemy from $14.00 to $12.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Finally, Cantor Fitzgerald dropped 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. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $9.75.
Check Out Our Latest Stock Analysis on Udemy
Udemy Trading Down 3.7%
The company has a 50-day simple moving average of $7.09 and a 200 day simple moving average of $7.54. The company has a market cap of $1.06 billion, a P/E ratio of -15.49 and a beta of 1.77.
Udemy (NASDAQ:UDMY - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.10 by $0.02. The firm had revenue of $200.30 million during the quarter, compared to analyst estimates 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 period in the previous year, the firm earned $0.03 earnings per share. On average, equities analysts forecast that Udemy, Inc. will post -0.09 EPS for the current fiscal year.
Insider Transactions at Udemy
In other news, CEO Hugo Sarrazin purchased 22,695 shares of the stock in a transaction that occurred on Wednesday, May 21st. The stock was purchased at an average price of $6.91 per share, for a total transaction of $156,822.45. Following the completion of the acquisition, the chief executive officer owned 47,580 shares of the company's stock, valued at approximately $328,777.80. This trade represents a 91.20% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Sarah Blanchard sold 25,000 shares of the firm's stock in a transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders acquired a total of 47,580 shares of company stock worth $330,894 over the last 90 days. Insiders own 3.20% of the company's stock.
Institutional Trading of Udemy
Several institutional investors and hedge funds have recently made changes to their positions in UDMY. New York State Teachers Retirement System bought a new position in Udemy in the second quarter worth approximately $58,000. CWM LLC raised its position in shares of Udemy by 138.8% in the 2nd quarter. CWM LLC now owns 31,932 shares of the company's stock worth $224,000 after acquiring an additional 18,561 shares in the last quarter. 111 Capital lifted its stake in shares of Udemy by 27.6% during the 2nd quarter. 111 Capital now owns 17,098 shares of the company's stock worth $120,000 after purchasing an additional 3,702 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in Udemy during the second quarter valued at about $340,000. Finally, Counterpoint Mutual Funds LLC purchased a new position in Udemy in the second quarter valued at about $406,000. 79.48% of the stock is currently owned by institutional investors.
Udemy Company Profile
(
Get Free Report)
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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