Needham & Company LLC Reaffirms “Buy” Rating for Udemy (NASDAQ:UDMY)

Needham & Company LLC reissued their buy rating on shares of Udemy (NASDAQ:UDMY) in a research note issued to investors on Friday, Benzinga reports. Needham & Company LLC currently has a $15.00 target price on the stock.

Other analysts have also issued research reports about the company. TheStreet lowered Udemy from a c- rating to a d+ rating in a report on Wednesday, March 6th. Truist Financial increased their target price on shares of Udemy from $13.00 to $15.00 and gave the stock a buy rating in a research report on Monday, January 22nd. Cantor Fitzgerald restated an overweight rating and set a $20.00 price target on shares of Udemy in a report on Thursday, February 15th. KeyCorp upped their price target on shares of Udemy from $13.00 to $15.00 and gave the stock an overweight rating in a research note on Friday, January 12th. Finally, Robert W. Baird reduced their price objective on Udemy from $15.00 to $13.00 and set an outperform rating for the company in a research report on Friday. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Udemy currently has a consensus rating of Moderate Buy and an average price target of $13.90.

Udemy Trading Up 0.2 %

Shares of UDMY opened at $10.15 on Friday. Udemy has a 52-week low of $8.46 and a 52-week high of $16.01. The firm has a 50-day moving average price of $10.65 and a 200 day moving average price of $12.33.

Udemy (NASDAQ:UDMY) last announced its earnings results on Wednesday, February 14th. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.04. Udemy had a negative return on equity of 22.29% and a negative net margin of 10.82%. The firm had revenue of $189.55 million for the quarter, compared to analysts’ expectations of $185.71 million. As a group, sell-side analysts predict that Udemy will post -0.47 EPS for the current year.

Insider Transactions at Udemy

In related news, CTO Venu Venugopal sold 6,981 shares of Udemy stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $10.82, for a total value of $75,534.42. Following the transaction, the chief technology officer now owns 334,319 shares in the company, valued at approximately $3,617,331.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CTO Venu Venugopal sold 6,981 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $10.82, for a total transaction of $75,534.42. Following the transaction, the chief technology officer now directly owns 334,319 shares in the company, valued at $3,617,331.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eren Bali sold 15,000 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $10.97, for a total value of $164,550.00. Following the completion of the transaction, the director now directly owns 1,676,050 shares of the company’s stock, valued at $18,386,268.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,981 shares of company stock worth $514,884. 3.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Udemy

Hedge funds have recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC bought a new position in Udemy in the 3rd quarter valued at $29,000. Daiwa Securities Group Inc. increased its position in Udemy by 261.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 4,730 shares of the company’s stock worth $70,000 after purchasing an additional 3,420 shares during the period. RIA Advisory Group LLC acquired a new position in Udemy during the 4th quarter valued at about $76,000. SG Americas Securities LLC bought a new position in shares of Udemy in the 3rd quarter valued at about $95,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Udemy by 28.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,171 shares of the company’s stock worth $125,000 after buying an additional 2,880 shares during the last quarter. 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.