Udemy (NASDAQ:UDMY) Rating Increased to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Udemy (NASDAQ:UDMY) from a buy rating to a strong-buy rating in a report published on Friday morning.

Several other equities research analysts have also recently commented on the stock. JPMorgan Chase & Co. cut their price objective on shares of Udemy from $11.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, April 24th. Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Udemy in a research report on Thursday, May 1st. Robert W. Baird cut their price objective on shares of Udemy from $13.00 to $11.00 and set an “outperform” rating on the stock in a research report on Thursday, May 1st. Morgan Stanley cut their price objective on shares of Udemy from $9.00 to $7.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 16th. Finally, Canaccord Genuity Group cut their price objective on shares of Udemy from $14.00 to $12.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $9.86.

Udemy Stock Up 0.4%

Shares of NASDAQ UDMY opened at $7.32 on Friday. The company’s fifty day moving average is $6.84 and its 200-day moving average is $7.85. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of -12.84 and a beta of 1.82. Udemy has a twelve month low of $5.68 and a twelve month high of $10.61.

Udemy (NASDAQ:UDMY) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.12 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 net margin of 10.84% and a negative return on equity of 27.93%. The firm’s revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.03 EPS. On average, research analysts anticipate that Udemy will post -0.09 EPS for the current fiscal year.

Insider Buying and Selling at Udemy

In related news, CEO Hugo Sarrazin bought 5,432 shares of Udemy stock in a transaction that occurred on Thursday, May 15th. The stock was acquired at an average price of $6.99 per share, with a total value of $37,969.68. Following the acquisition, the chief executive officer now 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 directly owns 2,146,050 shares of the company’s stock, valued at $17,211,321. The trade was a 0.46% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have acquired 47,580 shares of company stock worth $330,894 and have sold 20,846 shares worth $181,268. Company insiders own 2.10% of the company’s stock.

Institutional Trading of Udemy

Hedge funds and other institutional investors have recently modified their holdings of the stock. SBI Securities Co. Ltd. bought a new stake in shares of Udemy during the 4th quarter worth about $31,000. Quarry LP bought a new stake in Udemy in the 4th quarter valued at about $34,000. Vega Investment Solutions bought a new stake in Udemy in the 4th quarter valued at about $46,000. GAMMA Investing LLC boosted its holdings in Udemy by 558.3% in the 1st quarter. GAMMA Investing LLC now owns 6,945 shares of the company’s stock valued at $54,000 after purchasing an additional 5,890 shares during the period. Finally, State of Wyoming bought a new stake in Udemy in the 4th quarter valued at about $59,000. 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.