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

Udemy, Inc. (NASDAQ:UDMY) has received a consensus recommendation of “Moderate Buy” from the thirteen research firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $10.92.

A number of analysts have recently issued reports on the stock. Scotiabank initiated coverage on shares of Udemy in a research note on Thursday, December 5th. They set a “sector outperform” rating and a $10.00 target price for the company. Cantor Fitzgerald cut their price objective on shares of Udemy from $18.00 to $11.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Needham & Company LLC reduced their price objective on Udemy from $15.00 to $11.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Finally, Morgan Stanley lowered Udemy from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $10.00 to $7.50 in a research note on Friday, September 27th.

Udemy Stock Up 2.6 %

UDMY opened at $8.55 on Thursday. Udemy has a 12-month low of $6.67 and a 12-month high of $14.74. The business has a 50 day moving average of $8.21 and a 200-day moving average of $8.10. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of -13.57 and a beta of 1.87.

Udemy (NASDAQ:UDMY) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.06. Udemy had a negative return on equity of 29.36% and a negative net margin of 12.33%. The business had revenue of $195.42 million during the quarter, compared to the consensus estimate of $192.69 million. During the same quarter last year, the firm posted ($0.10) EPS. The company’s quarterly revenue was up 5.8% on a year-over-year basis. As a group, analysts expect that Udemy will post -0.47 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Gregory Scott Brown sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $8.71, for a total transaction of $87,100.00. Following the completion of the sale, the chief executive officer now owns 1,183,086 shares of the company’s stock, valued at approximately $10,304,679.06. This represents a 0.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Eren Bali sold 35,518 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $9.00, for a total transaction of $319,662.00. Following the sale, the chief technology officer now owns 2,225,532 shares in the company, valued at $20,029,788. This represents a 1.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,518 shares of company stock valued at $491,762 over the last 90 days. 3.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Mirador Capital Partners LP acquired a new stake in shares of Udemy in the 4th quarter valued at $148,000. JPMorgan Chase & Co. lifted its position in shares of Udemy by 26.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 198,387 shares of the company’s stock worth $1,476,000 after buying an additional 41,145 shares during the last quarter. Barclays PLC boosted its stake in Udemy by 360.6% in the third quarter. Barclays PLC now owns 155,719 shares of the company’s stock valued at $1,158,000 after buying an additional 121,911 shares in the last quarter. Geode Capital Management LLC boosted its stake in Udemy by 0.3% in the third quarter. Geode Capital Management LLC now owns 2,216,868 shares of the company’s stock valued at $16,497,000 after buying an additional 5,972 shares in the last quarter. Finally, State Street Corp grew its position in Udemy by 0.8% in the third quarter. State Street Corp now owns 1,934,473 shares of the company’s stock valued at $14,392,000 after acquiring an additional 15,339 shares during the last quarter. 79.48% of the stock is currently 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.