Analysts Offer Predictions for Udemy FY2024 Earnings

Udemy, Inc. (NASDAQ:UDMY) – Equities research analysts at Cantor Fitzgerald issued their FY2024 EPS estimates for shares of Udemy in a research note issued on Tuesday, January 21st. Cantor Fitzgerald analyst Y. Lee forecasts that the company will post earnings per share of ($0.45) for the year. Cantor Fitzgerald currently has a “Overweight” rating and a $11.00 price target on the stock. The consensus estimate for Udemy’s current full-year earnings is ($0.47) per share. Cantor Fitzgerald also issued estimates for Udemy’s FY2025 earnings at ($0.32) EPS.

Udemy (NASDAQ:UDMY) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.01 by $0.06. The company had revenue of $195.42 million for the quarter, compared to analyst estimates of $192.69 million. Udemy had a negative net margin of 12.33% and a negative return on equity of 29.36%. Udemy’s revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the business earned ($0.10) earnings per share.

A number of other research analysts have also issued reports on UDMY. Scotiabank began coverage on Udemy in a research report on Thursday, December 5th. They set a “sector outperform” rating and a $10.00 price target for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Udemy in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $10.92.

Udemy Price Performance

Shares of UDMY stock opened at $7.54 on Friday. Udemy has a 12-month low of $6.67 and a 12-month high of $14.74. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of -11.97 and a beta of 1.87. The business has a 50 day simple moving average of $8.14 and a 200 day simple moving average of $8.07.

Insider Transactions at Udemy

In other news, CEO Gregory Scott Brown sold 10,000 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $8.50, for a total transaction of $85,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,203,727 shares of the company’s stock, valued at $10,231,679.50. This trade represents a 0.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Eren Bali sold 35,518 shares of Udemy stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $9.00, for a total value of $319,662.00. Following the completion of the transaction, the chief technology officer now owns 2,225,532 shares in the company, valued at $20,029,788. The trade was a 1.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,255,518 shares of company stock valued at $25,579,762 in the last quarter. Insiders own 3.20% of the company’s stock.

Institutional Trading of Udemy

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Sea Cliff Partners Management LP increased its position in shares of Udemy by 27.9% in the second quarter. Sea Cliff Partners Management LP now owns 3,725,865 shares of the company’s stock worth $32,154,000 after acquiring an additional 811,702 shares in the last quarter. Summit Trail Advisors LLC boosted its stake in Udemy by 939.8% in the 3rd quarter. Summit Trail Advisors LLC now owns 366,795 shares of the company’s stock worth $2,729,000 after purchasing an additional 331,521 shares during the period. Verition Fund Management LLC purchased a new position in Udemy during the 3rd quarter worth approximately $1,630,000. Algert Global LLC raised its stake in Udemy by 150.8% during the 2nd quarter. Algert Global LLC now owns 238,672 shares of the company’s stock valued at $2,060,000 after purchasing an additional 143,498 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Udemy by 106.5% in the third quarter. Assenagon Asset Management S.A. now owns 242,791 shares of the company’s stock valued at $1,806,000 after purchasing an additional 125,235 shares in the last quarter. Institutional investors and hedge funds own 79.48% of the company’s stock.

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.