Udemy, Inc. (NASDAQ:UDMY) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Udemy, Inc. (NASDAQ:UDMY) have received a consensus rating of “Moderate Buy” from the ten ratings firms that are presently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $13.90.

Several equities analysts have recently issued reports on the company. KeyCorp decreased their price objective on Udemy from $15.00 to $14.00 and set an “overweight” rating for the company in a research note on Friday, May 3rd. Needham & Company LLC reissued a “buy” rating and set a $15.00 target price on shares of Udemy in a research report on Friday, May 3rd. Robert W. Baird cut their target price on Udemy from $15.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. Jefferies Financial Group cut their target price on Udemy from $14.00 to $11.00 and set a “hold” rating on the stock in a research report on Monday, April 29th. Finally, Morgan Stanley cut their target price on Udemy from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Friday, April 19th.

Insiders Place Their Bets

In other Udemy news, CEO Gregory Scott Brown sold 10,000 shares of Udemy stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $8.50, for a total transaction of $85,000.00. Following the transaction, the chief executive officer now owns 1,273,406 shares of the company’s stock, valued at $10,823,951. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Gregory Scott Brown sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $8.50, for a total value of $85,000.00. Following the transaction, the chief executive officer now owns 1,273,406 shares of the company’s stock, valued at $10,823,951. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Sarah Blanchard sold 45,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $9.53, for a total value of $428,850.00. Following the completion of the transaction, the chief financial officer now directly owns 1,096,663 shares in the company, valued at approximately $10,451,198.39. The disclosure for this sale can be found here. Insiders have sold a total of 64,486 shares of company stock valued at $604,441 over the last quarter. Company insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of UDMY. Sea Cliff Partners Management LP acquired a new position in shares of Udemy in the fourth quarter valued at approximately $25,661,000. Inflection Point Investments LLP acquired a new position in shares of Udemy in the fourth quarter valued at approximately $21,390,000. Vanguard Group Inc. boosted its stake in shares of Udemy by 19.3% in the third quarter. Vanguard Group Inc. now owns 8,860,490 shares of the company’s stock valued at $84,175,000 after buying an additional 1,433,980 shares in the last quarter. Silvercrest Asset Management Group LLC purchased a new stake in shares of Udemy in the first quarter valued at approximately $8,109,000. Finally, Invenomic Capital Management LP boosted its stake in shares of Udemy by 22.9% in the first quarter. Invenomic Capital Management LP now owns 2,747,453 shares of the company’s stock valued at $30,167,000 after buying an additional 512,618 shares in the last quarter. Institutional investors and hedge funds own 79.48% of the company’s stock.

Udemy Stock Performance

Shares of UDMY opened at $8.64 on Friday. The stock has a 50-day simple moving average of $9.09 and a 200-day simple moving average of $11.16. The stock has a market capitalization of $1.32 billion, a PE ratio of -16.30 and a beta of 2.00. Udemy has a 1 year low of $7.91 and a 1 year high of $16.01.

Udemy (NASDAQ:UDMY) last announced its quarterly earnings data on Thursday, May 2nd. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.02. The business had revenue of $196.85 million during the quarter, compared to analysts’ expectations of $194.83 million. Udemy had a negative return on equity of 23.10% and a negative net margin of 10.82%. Analysts predict that Udemy will post -0.45 EPS for the current year.

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.