Brokerages Set Udemy, Inc. (NASDAQ:UDMY) Price Target at $10.95

Udemy, Inc. (NASDAQ:UDMY) has been given a consensus recommendation of “Moderate Buy” by the twelve research firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $10.95.

Several research firms have commented on UDMY. Scotiabank began coverage on Udemy in a research note on Thursday, December 5th. They set a “sector outperform” rating and a $10.00 price objective for the company. Canaccord Genuity Group boosted their price objective on Udemy from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Needham & Company LLC restated a “buy” rating and set a $11.00 target price on shares of Udemy in a report on Wednesday. Morgan Stanley boosted their target price on Udemy from $7.50 to $9.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. Finally, William Blair cut Udemy from an “outperform” rating to a “market perform” rating in a report on Wednesday.

Udemy Trading Down 1.5 %

NASDAQ:UDMY opened at $7.91 on Friday. Udemy has a 12 month low of $6.67 and a 12 month high of $11.60. The stock has a 50 day moving average of $8.57 and a two-hundred day moving average of $8.23. The firm has a market cap of $1.17 billion, a P/E ratio of -13.88 and a beta of 1.76.

Udemy (NASDAQ:UDMY) last posted its quarterly earnings data on Thursday, February 13th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.10). Udemy had a negative return on equity of 27.93% and a negative net margin of 10.84%. The firm had revenue of $199.94 million for the quarter, compared to analysts’ expectations of $194.70 million. On average, research analysts forecast that Udemy will post -0.09 earnings per share for the current year.

Insider Activity at Udemy

In related news, Director Heather Hiles sold 14,840 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $9.81, for a total value of $145,580.40. Following the transaction, the director now directly owns 42,667 shares in the company, valued at approximately $418,563.27. This represents a 25.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Ltd Naspers sold 3,200,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $7.84, for a total value of $25,088,000.00. Following the completion of the transaction, the insider now owns 13,920,840 shares in the company, valued at $109,139,385.60. This represents a 18.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,294,322 shares of company stock worth $25,953,218. Insiders own 3.20% of the company’s stock.

Institutional Trading of Udemy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vega Investment Solutions purchased a new stake in Udemy in the fourth quarter valued at approximately $46,000. PharVision Advisers LLC purchased a new stake in Udemy in the fourth quarter valued at approximately $144,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Udemy by 17.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 181,864 shares of the company’s stock valued at $1,497,000 after purchasing an additional 27,673 shares during the period. Voloridge Investment Management LLC raised its position in Udemy by 11.5% in the fourth quarter. Voloridge Investment Management LLC now owns 254,072 shares of the company’s stock valued at $2,091,000 after purchasing an additional 26,289 shares during the period. Finally, Wexford Capital LP purchased a new stake in Udemy in the fourth quarter valued at approximately $99,000. Hedge funds and other institutional investors own 79.48% of the company’s stock.

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.