Udemy, Inc. (NASDAQ:UDMY) Receives $10.05 Average Price Target from Brokerages

Udemy, Inc. (NASDAQ:UDMY) has been given an average rating of “Moderate Buy” by the twelve ratings firms that are covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $10.05.

Several equities research analysts have recently commented on the company. Wall Street Zen upgraded Udemy from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 7th. Morgan Stanley upgraded Udemy from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $7.00 to $9.00 in a research report on Thursday, June 5th. William Blair cut Udemy from an “outperform” rating to a “market perform” rating in a research report on Wednesday, March 12th. Cantor Fitzgerald reduced their target price on shares of Udemy from $11.00 to $9.00 and set an “overweight” rating for the company in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. reduced their target price on shares of Udemy from $11.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, April 24th.

Insider Buying and Selling

In other news, CEO Hugo Sarrazin acquired 14,285 shares of the business’s stock in a transaction dated Tuesday, May 20th. The stock was purchased at an average price of $7.00 per share, for a total transaction of $99,995.00. Following the completion of the transaction, the chief executive officer now directly owns 24,885 shares in the company, valued at approximately $174,195. This trade represents a 134.76% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sarah Blanchard sold 25,000 shares of the firm’s stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $6.99, for a total value of $174,750.00. Following the transaction, the chief financial officer now owns 1,077,097 shares of the company’s stock, valued at approximately $7,528,908.03. The trade was a 2.27% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 47,580 shares of company stock worth $330,894. 2.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in UDMY. Vanguard Group Inc. grew its holdings in Udemy by 12.2% during the 1st quarter. Vanguard Group Inc. now owns 10,663,298 shares of the company’s stock valued at $82,747,000 after buying an additional 1,156,006 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Udemy by 1,814.5% in the first quarter. Assenagon Asset Management S.A. now owns 2,678,641 shares of the company’s stock valued at $20,786,000 after purchasing an additional 2,538,728 shares in the last quarter. Federated Hermes Inc. grew its holdings in shares of Udemy by 0.6% in the first quarter. Federated Hermes Inc. now owns 1,380,278 shares of the company’s stock valued at $10,711,000 after purchasing an additional 7,685 shares in the last quarter. Royce & Associates LP grew its holdings in shares of Udemy by 18.6% in the fourth quarter. Royce & Associates LP now owns 1,119,359 shares of the company’s stock valued at $9,212,000 after purchasing an additional 175,300 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of Udemy by 6.1% in the 4th quarter. Northern Trust Corp now owns 836,920 shares of the company’s stock worth $6,888,000 after buying an additional 48,298 shares in the last quarter. Hedge funds and other institutional investors own 79.48% of the company’s stock.

Udemy Stock Performance

Udemy stock opened at $6.89 on Friday. Udemy has a one year low of $5.68 and a one year high of $10.61. The stock has a market cap of $1.02 billion, a PE ratio of -14.98 and a beta of 1.81. The stock has a fifty day moving average of $6.89 and a 200 day moving average of $7.79.

Udemy (NASDAQ:UDMY) last announced its earnings results on Wednesday, April 30th. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. Udemy had a negative net margin of 8.70% and a negative return on equity of 22.68%. The business had revenue of $200.30 million during the quarter, compared to analysts’ expectations of $197.19 million. During the same period in the prior year, the company earned $0.03 earnings per share. The firm’s revenue was up 1.8% on a year-over-year basis. As a group, sell-side analysts predict that Udemy will post -0.09 EPS for the current fiscal year.

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.