Wall Street Zen Upgrades Udemy (NASDAQ:UDMY) to Strong-Buy

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

Several other brokerages have also recently issued reports on UDMY. JPMorgan Chase & Co. dropped their target price on shares of Udemy from $11.00 to $8.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. William Blair cut shares of Udemy from an "outperform" rating to a "market perform" rating in a report on Wednesday, March 12th. Morgan Stanley upgraded shares of Udemy from an "underweight" rating to an "equal weight" rating and raised their target price for the stock from $7.00 to $9.00 in a report on Thursday. Cantor Fitzgerald dropped their price target on shares of Udemy from $11.00 to $9.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Finally, Needham & Company LLC reiterated a "buy" rating and set a $11.00 price target on shares of Udemy in a research note on Thursday, May 1st. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $10.05.

Udemy Stock Up 0.7%

NASDAQ:UDMY opened at $7.60 on Friday. The company's 50 day moving average price is $6.79 and its 200-day moving average price is $7.84. Udemy has a 52 week low of $5.68 and a 52 week high of $10.61. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of -13.33 and a beta of 1.81.

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, topping the consensus estimate of $0.10 by $0.02. Udemy had a negative net margin of 10.84% and a negative return on equity of 27.93%. The company had revenue of $200.30 million for the quarter, compared to analysts' expectations of $197.19 million. During the same quarter last year, the company posted $0.03 earnings per share. The firm's quarterly revenue was up 1.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Udemy will post -0.09 earnings per share for the current year.

Insider Activity

In other news, CTO Eren Bali sold 10,000 shares of the firm's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $8.02, for a total transaction of $80,200.00. Following the sale, the chief technology officer now directly owns 2,146,050 shares in the company, valued at $17,211,321. This trade represents a 0.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Hugo Sarrazin acquired 5,432 shares of the firm's stock in a transaction dated Thursday, May 15th. The shares were purchased at an average price of $6.99 per share, for a total transaction of $37,969.68. Following the completion of the transaction, the chief executive officer now directly owns 8,832 shares in the company, valued at approximately $61,735.68. This trade represents a 159.76% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 47,580 shares of company stock worth $330,894 in the last three months. Company insiders own 2.10% of the company's stock.

Institutional Trading of Udemy

Several institutional investors and hedge funds have recently modified their holdings of the company. Focus Partners Wealth raised its position in shares of Udemy by 1.9% during the 1st 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 during the period. Rhumbline Advisers increased its holdings in Udemy by 1.2% in the 1st quarter. Rhumbline Advisers now owns 132,289 shares of the company's stock valued at $1,027,000 after acquiring an additional 1,613 shares during the last quarter. HighTower Advisors LLC increased its holdings in Udemy by 7.8% in the 1st quarter. HighTower Advisors LLC now owns 22,551 shares of the company's stock valued at $175,000 after acquiring an additional 1,641 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Udemy by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,071 shares of the company's stock valued at $420,000 after acquiring an additional 2,399 shares during the last quarter. Finally, MetLife Investment Management LLC increased its holdings in Udemy by 6.2% in the 4th quarter. MetLife Investment Management LLC now owns 59,465 shares of the company's stock valued at $489,000 after acquiring an additional 3,450 shares during the last quarter. 79.48% of the stock is currently 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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