Udemy (NASDAQ:UDMY) Stock Rating Lowered by Wall Street Zen

Udemy (NASDAQ:UDMY) was downgraded by equities research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Thursday.

Several other brokerages have also recently issued reports on UDMY. Truist Financial reiterated a “hold” rating and issued a $7.00 price objective (down from $10.00) on shares of Udemy in a research note on Monday, April 7th. JPMorgan Chase & Co. reduced their price objective on Udemy from $11.00 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, April 24th. William Blair cut Udemy from an “outperform” rating to a “market perform” rating in a research note on Wednesday, March 12th. Cantor Fitzgerald cut their price target on Udemy from $11.00 to $9.00 and set an “overweight” rating on the stock in a research note on Thursday, May 1st. Finally, Robert W. Baird cut their price target on Udemy from $13.00 to $11.00 and set an “outperform” rating on the stock in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $9.86.

Udemy Stock Up 0.6%

UDMY opened at $6.87 on Thursday. Udemy has a 52 week low of $5.68 and a 52 week high of $10.61. The business has a fifty day simple moving average of $6.97 and a 200-day simple moving average of $7.90. The firm has a market cap of $1.02 billion, a P/E ratio of -12.05 and a beta of 1.82.

Udemy (NASDAQ:UDMY) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.02. The business had revenue of $200.30 million for the quarter, compared to analysts’ expectations of $197.19 million. Udemy had a negative return on equity of 27.93% and a negative net margin of 10.84%. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period last year, the firm earned $0.03 earnings per share. Sell-side analysts expect that Udemy will post -0.09 earnings per share for the current year.

Insider Buying and Selling at Udemy

In other news, CTO Eren Bali sold 10,000 shares of Udemy stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $8.02, for a total transaction of $80,200.00. Following the sale, the chief technology officer now owns 2,146,050 shares in the company, valued at approximately $17,211,321. The trade was a 0.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Hugo Sarrazin bought 5,432 shares of the business’s stock in a transaction dated Thursday, May 15th. The shares were purchased at an average price of $6.99 per share, for a total transaction of $37,969.68. Following the transaction, the chief executive officer now directly owns 8,832 shares of the company’s stock, valued at approximately $61,735.68. This represents a 159.76% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 47,580 shares of company stock worth $330,894 and have sold 20,846 shares worth $181,268. 2.10% of the stock is owned by insiders.

Institutional Trading of Udemy

A number of hedge funds and other institutional investors have recently made changes to their positions in UDMY. JPMorgan Chase & Co. increased its position in shares of Udemy by 26.2% during the third quarter. JPMorgan Chase & Co. now owns 198,387 shares of the company’s stock worth $1,476,000 after purchasing an additional 41,145 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of Udemy by 496.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 7,220 shares of the company’s stock worth $59,000 after purchasing an additional 6,010 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Udemy by 22.2% during the fourth quarter. SG Americas Securities LLC now owns 29,674 shares of the company’s stock worth $244,000 after purchasing an additional 5,384 shares in the last quarter. Falcon Wealth Planning purchased a new position in shares of Udemy during the fourth quarter worth about $85,000. Finally, Handelsbanken Fonder AB grew its holdings in shares of Udemy by 45.2% during the fourth quarter. Handelsbanken Fonder AB now owns 15,100 shares of the company’s stock worth $124,000 after buying an additional 4,700 shares during the last quarter. Institutional investors and hedge funds 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.