Udemy (NASDAQ:UDMY) Upgraded at Wall Street Zen

Key Points

• Udemy has been upgraded from a "buy" rating to a "strong-buy" rating by Wall Street Zen, signaling increased confidence from analysts.
• The company's stock performance shows a current price of $7.27 with a 52-week range between $5.68 and $10.61.
• In its last quarterly earnings report, Udemy posted $0.16 earnings per share, exceeding estimates, with revenues of $199.88 million.

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

UDMY has been the topic of several other reports. Canaccord Genuity Group dropped their price objective on shares of Udemy from $14.00 to $12.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Truist Financial reaffirmed a "hold" rating and set a $7.00 price objective (down from $10.00) on shares of Udemy in a report on Monday, April 7th. Needham & Company LLC reaffirmed a "buy" rating and set a $11.00 price objective on shares of Udemy in a report on Thursday. Robert W. Baird dropped their price objective 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. Finally, Cantor Fitzgerald upped their price objective on shares of Udemy from $9.00 to $10.00 and gave the company an "overweight" rating in a report on Thursday. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Udemy currently has a consensus rating of "Moderate Buy" and a consensus price target of $10.00.

Udemy Stock Performance

UDMY opened at $7.27 on Friday. The firm has a market cap of $1.08 billion, a P/E ratio of -34.62 and a beta of 1.78. The firm has a 50-day moving average of $7.12 and a 200 day moving average of $7.52. Udemy has a fifty-two week low of $5.68 and a fifty-two week high of $10.61.

Udemy (NASDAQ:UDMY - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.04. The company had revenue of $199.88 million during the quarter, compared to analyst estimates of $196.74 million. Udemy had a negative net margin of 3.85% and a negative return on equity of 5.40%. The firm's revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.04) earnings per share. Equities research analysts predict that Udemy will post -0.09 earnings per share 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 dated Wednesday, May 21st. The shares were purchased 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 owned 47,580 shares in the company, valued at $328,777.80. This represents a 91.20% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Sarah Blanchard sold 25,000 shares of the stock in a transaction dated Friday, June 13th. The stock was 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 in the company, valued at approximately $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. Over the last three months, insiders bought 47,580 shares of company stock worth $330,894. Insiders own 2.10% of the company's stock.

Institutional Investors Weigh In On Udemy

Institutional investors and hedge funds have recently modified their holdings of the company. Focus Partners Wealth raised its stake in Udemy by 1.9% in the first quarter. Focus Partners Wealth now owns 79,437 shares of the company's stock valued at $616,000 after purchasing an additional 1,468 shares in the last quarter. Rhumbline Advisers raised its stake in Udemy by 1.2% in the first quarter. Rhumbline Advisers now owns 132,289 shares of the company's stock valued at $1,027,000 after purchasing an additional 1,613 shares in the last quarter. HighTower Advisors LLC raised its stake in Udemy by 7.8% in the first quarter. HighTower Advisors LLC now owns 22,551 shares of the company's stock valued at $175,000 after purchasing an additional 1,641 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Udemy by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,071 shares of the company's stock valued at $420,000 after purchasing an additional 2,399 shares in the last quarter. Finally, MetLife Investment Management LLC raised its stake in Udemy by 6.2% in the fourth quarter. MetLife Investment Management LLC now owns 59,465 shares of the company's stock valued at $489,000 after purchasing an additional 3,450 shares in the last quarter. 79.48% of the stock is owned by hedge funds and other 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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