Udemy, Inc. (NASDAQ:UDMY) Receives $13.90 Average Price Target from Brokerages

Udemy, Inc. (NASDAQ:UDMY) has received an average rating of “Moderate Buy” from the ten analysts that are presently covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $13.90.

Several equities analysts recently commented on the stock. Jefferies Financial Group dropped their price objective on shares of Udemy from $14.00 to $11.00 and set a “hold” rating for the company in a research note on Monday, April 29th. KeyCorp cut their price target on Udemy from $15.00 to $14.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $20.00 price objective on shares of Udemy in a report on Friday, May 3rd. Robert W. Baird reduced their target price on shares of Udemy from $15.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $15.00 price objective on shares of Udemy in a research note on Friday, May 3rd.

Insider Activity at Udemy

In other news, CTO Venu Venugopal sold 7,086 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $9.89, for a total transaction of $70,080.54. Following the completion of the sale, the chief technology officer now owns 429,927 shares of the company’s stock, valued at approximately $4,251,978.03. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Sarah Blanchard sold 45,000 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $9.53, for a total value of $428,850.00. Following the completion of the sale, the chief financial officer now directly owns 1,096,663 shares of the company’s stock, valued at approximately $10,451,198.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Venu Venugopal sold 7,086 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $9.89, for a total value of $70,080.54. Following the transaction, the chief technology officer now directly owns 429,927 shares in the company, valued at $4,251,978.03. The disclosure for this sale can be found here. Insiders have sold a total of 64,486 shares of company stock worth $604,441 in the last 90 days. Corporate insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Udemy

A number of institutional investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Udemy by 5.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,903 shares of the company’s stock valued at $205,000 after purchasing an additional 732 shares during the period. ProShare Advisors LLC lifted its stake in shares of Udemy by 10.7% in the first quarter. ProShare Advisors LLC now owns 16,109 shares of the company’s stock valued at $177,000 after buying an additional 1,553 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Udemy by 18.8% during the first quarter. Principal Financial Group Inc. now owns 12,053 shares of the company’s stock valued at $132,000 after buying an additional 1,904 shares during the last quarter. Swiss National Bank increased its position in shares of Udemy by 2.2% during the first quarter. Swiss National Bank now owns 136,200 shares of the company’s stock worth $1,495,000 after acquiring an additional 2,900 shares in the last quarter. Finally, Natixis raised its holdings in shares of Udemy by 60.8% in the 1st quarter. Natixis now owns 8,967 shares of the company’s stock worth $99,000 after acquiring an additional 3,391 shares during the last quarter. 79.48% of the stock is owned by institutional investors and hedge funds.

Udemy Trading Up 0.9 %

NASDAQ UDMY opened at $8.58 on Friday. The firm’s 50 day simple moving average is $9.14 and its 200 day simple moving average is $11.20. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of -16.19 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 issued its quarterly earnings results 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 company had revenue of $196.85 million for the quarter, compared to analyst estimates of $194.83 million. Udemy had a negative return on equity of 23.10% and a negative net margin of 10.82%. On average, equities research analysts forecast that Udemy will post -0.45 earnings per share 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.