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

Shares of Udemy, Inc. (NASDAQ:UDMY) have been assigned an average rating of “Moderate Buy” from the twelve ratings firms that are covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $12.38.

Several equities research analysts have recently commented on UDMY shares. Canaccord Genuity Group began coverage on Udemy in a report on Thursday, August 8th. They set a “buy” rating and a $12.00 target price for the company. Robert W. Baird reduced their price objective on shares of Udemy from $13.00 to $11.00 and set an “outperform” rating for the company in a research note on Thursday, August 1st. KeyCorp dropped their target price on shares of Udemy from $14.00 to $13.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Cantor Fitzgerald upgraded shares of Udemy to a “strong-buy” rating in a research report on Tuesday, August 13th. Finally, Canaccord Genuity Group started coverage on shares of Udemy in a research report on Thursday, August 8th. They set a “buy” rating and a $12.00 price objective on the stock.

Udemy Price Performance

UDMY stock opened at $7.87 on Friday. The firm has a market cap of $1.20 billion, a PE ratio of -14.85 and a beta of 1.99. Udemy has a 12 month low of $6.67 and a 12 month high of $16.01. The firm has a 50 day simple moving average of $8.08 and a 200 day simple moving average of $9.24.

Udemy (NASDAQ:UDMY) last posted its quarterly earnings results on Wednesday, July 31st. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.07). The company had revenue of $194.36 million during the quarter, compared to the consensus estimate of $194.17 million. Udemy had a negative net margin of 11.39% and a negative return on equity of 26.62%. As a group, sell-side analysts expect that Udemy will post -0.52 earnings per share for the current year.

Insider Buying and Selling at Udemy

In other Udemy news, CEO Gregory Scott Brown sold 10,000 shares of the business’s stock in a transaction dated 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 in the company, valued at $10,823,951. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Sarah Blanchard sold 45,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $8.05, for a total value of $362,250.00. Following the completion of the sale, the chief financial officer now directly owns 1,001,761 shares in the company, valued at approximately $8,064,176.05. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Gregory Scott Brown sold 10,000 shares of the company’s stock in a transaction 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 sale, the chief executive officer now directly owns 1,273,406 shares of the company’s stock, valued at $10,823,951. The disclosure for this sale can be found here. Insiders sold 73,000 shares of company stock valued at $607,740 in the last quarter. Company insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Udemy

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sea Cliff Partners Management LP bought a new stake in Udemy during the 4th quarter valued at approximately $25,661,000. Silvercrest Asset Management Group LLC bought a new stake in shares of Udemy in the first quarter valued at approximately $8,109,000. Invenomic Capital Management LP boosted its position 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 acquiring an additional 512,618 shares during the period. Vanguard Group Inc. grew its stake in shares of Udemy by 5.6% in the fourth quarter. Vanguard Group Inc. now owns 9,355,870 shares of the company’s stock worth $137,812,000 after acquiring an additional 495,380 shares during the last quarter. Finally, Industry Ventures L.L.C. bought a new position in Udemy during the second quarter worth $3,452,000. 79.48% of the stock is 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.