Udemy’s (UDMY) Buy Rating Reaffirmed at Canaccord Genuity Group

Canaccord Genuity Group reaffirmed their buy rating on shares of Udemy (NASDAQ:UDMY) in a research note issued to investors on Thursday morning,Benzinga reports. Canaccord Genuity Group currently has a $12.00 target price on the stock.

Other equities analysts have also recently issued research reports about the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Udemy in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Udemy from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 price objective on shares of Udemy in a research note on Thursday. Cantor Fitzgerald boosted their price objective on shares of Udemy from $9.00 to $10.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. Finally, Zacks Research lowered shares of Udemy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 2nd. Six analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Udemy presently has an average rating of “Hold” and a consensus target price of $9.67.

Udemy Trading Down 11.8%

Shares of NASDAQ:UDMY opened at $5.63 on Thursday. The company has a 50 day moving average of $6.86 and a 200 day moving average of $6.92. The stock has a market cap of $846.41 million, a P/E ratio of -187.60 and a beta of 1.76. Udemy has a 12 month low of $5.60 and a 12 month high of $10.61.

Udemy (NASDAQ:UDMY) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.10 by $0.03. The company had revenue of $195.68 million during the quarter, compared to analysts’ expectations of $193.09 million. Udemy had a negative net margin of 0.47% and a positive return on equity of 2.13%. Udemy’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.07 earnings per share. Udemy has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, equities analysts forecast that Udemy will post -0.09 earnings per share for the current fiscal year.

Udemy announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, September 10th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to repurchase up to 5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Udemy

In other Udemy news, CFO Sarah Blanchard sold 25,000 shares of Udemy stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $7.08, for a total transaction of $177,000.00. Following the completion of the sale, the chief financial officer directly owned 1,287,953 shares in the company, valued at $9,118,707.24. The trade was a 1.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Udemy

A number of hedge funds have recently made changes to their positions in UDMY. Assenagon Asset Management S.A. lifted its holdings in shares of Udemy by 70.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 4,474,417 shares of the company’s stock worth $31,366,000 after acquiring an additional 1,854,550 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Udemy by 12.2% in the 1st quarter. Vanguard Group Inc. now owns 10,663,298 shares of the company’s stock worth $82,747,000 after acquiring an additional 1,156,006 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Udemy by 455.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 703,957 shares of the company’s stock worth $4,949,000 after acquiring an additional 577,155 shares during the last quarter. Cubist Systematic Strategies LLC lifted its holdings in shares of Udemy by 100.9% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 1,008,906 shares of the company’s stock worth $7,093,000 after acquiring an additional 506,678 shares during the last quarter. Finally, Landscape Capital Management L.L.C. bought a new stake in shares of Udemy in the 1st quarter worth approximately $3,240,000. 79.48% of the stock is currently owned by institutional investors.

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.