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

Udemy, Inc. (NASDAQ:UDMY) has been assigned an average rating of “Moderate Buy” from the nine brokerages that are currently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $15.00.

Several equities analysts have issued reports on the stock. Robert W. Baird upped their price target on shares of Udemy from $15.00 to $17.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. JPMorgan Chase & Co. increased their target price on shares of Udemy from $11.00 to $12.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. Piper Sandler reissued a “neutral” rating and set a $13.00 target price on shares of Udemy in a research note on Thursday, February 15th. TheStreet lowered shares of Udemy from a “c-” rating to a “d+” rating in a research note on Wednesday, March 6th. Finally, KeyCorp raised their price target on shares of Udemy from $13.00 to $15.00 and gave the company an “overweight” rating in a research report on Friday, January 12th.

Udemy Stock Performance

Shares of UDMY opened at $10.98 on Friday. Udemy has a 52 week low of $8.17 and a 52 week high of $16.01. The firm has a market cap of $1.74 billion, a P/E ratio of -15.25 and a beta of 2.16. The firm’s 50-day simple moving average is $12.16 and its 200 day simple moving average is $12.17.

Udemy (NASDAQ:UDMY) last posted its quarterly earnings data on Wednesday, February 14th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.04. Udemy had a negative net margin of 14.72% and a negative return on equity of 27.31%. The firm had revenue of $189.55 million during the quarter, compared to the consensus estimate of $185.71 million. As a group, equities analysts forecast that Udemy will post -0.47 earnings per share for the current year.

Insider Activity

In other news, Director Eren Bali sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $14.11, for a total value of $211,650.00. Following the completion of the transaction, the director now directly owns 1,691,050 shares in the company, valued at $23,860,715.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Udemy news, Director Eren Bali sold 15,000 shares of Udemy stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $14.11, for a total transaction of $211,650.00. Following the completion of the sale, the director now directly owns 1,691,050 shares in the company, valued at $23,860,715.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Gregory Scott Brown sold 10,000 shares of Udemy stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $11.04, for a total transaction of $110,400.00. Following the sale, the chief executive officer now owns 1,163,328 shares of the company’s stock, valued at $12,843,141.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,981 shares of company stock worth $673,734. 6.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Venturi Wealth Management LLC purchased a new position in shares of Udemy in the third quarter worth $29,000. Lazard Asset Management LLC purchased a new position in Udemy during the 1st quarter valued at $46,000. Tower Research Capital LLC TRC increased its position in Udemy by 58.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,545 shares of the company’s stock valued at $49,000 after purchasing an additional 1,683 shares during the period. Daiwa Securities Group Inc. increased its position in Udemy by 261.1% during the 4th quarter. Daiwa Securities Group Inc. now owns 4,730 shares of the company’s stock valued at $70,000 after purchasing an additional 3,420 shares during the period. Finally, RIA Advisory Group LLC purchased a new position in Udemy during the 4th quarter valued at $76,000. 79.48% of the stock is owned by hedge funds and other institutional investors.

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.