Analysts Set Udemy, Inc. (NASDAQ:UDMY) Price Target at $11.00

Udemy, Inc. (NASDAQ:UDMY) has received a consensus recommendation of “Moderate Buy” from the twelve research firms that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $11.00.

A number of brokerages recently commented on UDMY. Cantor Fitzgerald reduced their price target on Udemy from $18.00 to $11.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Canaccord Genuity Group assumed coverage on Udemy in a research note on Thursday, August 8th. They set a “buy” rating and a $12.00 target price for the company. Needham & Company LLC dropped their price target on shares of Udemy from $15.00 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Canaccord Genuity Group began coverage on shares of Udemy in a research note on Thursday, August 8th. They set a “buy” rating and a $12.00 price objective on the stock. Finally, Morgan Stanley lowered shares of Udemy from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $10.00 to $7.50 in a report on Friday, September 27th.

Insider Buying and Selling

In related news, CTO Eren Bali sold 35,518 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $9.00, for a total transaction of $319,662.00. Following the completion of the transaction, the chief technology officer now directly owns 2,225,532 shares in the company, valued at $20,029,788. This represents a 1.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gregory Scott Brown sold 10,000 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $8.50, for a total value of $85,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,203,727 shares in the company, valued at $10,231,679.50. This represents a 0.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.20% of the stock is owned by company insiders.

Institutional Trading of Udemy

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Udemy by 1.2% in the first quarter. Vanguard Group Inc. now owns 9,472,216 shares of the company’s stock valued at $104,005,000 after purchasing an additional 116,346 shares during the period. Sea Cliff Partners Management LP grew its holdings in Udemy by 27.9% in the 2nd quarter. Sea Cliff Partners Management LP now owns 3,725,865 shares of the company’s stock worth $32,154,000 after buying an additional 811,702 shares in the last quarter. Geode Capital Management LLC increased its position in Udemy by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,216,868 shares of the company’s stock valued at $16,497,000 after acquiring an additional 5,972 shares during the period. State Street Corp raised its stake in Udemy by 0.8% during the 3rd quarter. State Street Corp now owns 1,934,473 shares of the company’s stock valued at $14,392,000 after acquiring an additional 15,339 shares in the last quarter. Finally, FMR LLC boosted its position in Udemy by 2.8% during the 3rd quarter. FMR LLC now owns 1,330,073 shares of the company’s stock worth $9,896,000 after acquiring an additional 36,380 shares during the period. 79.48% of the stock is currently owned by institutional investors.

Udemy Stock Down 1.1 %

Shares of NASDAQ:UDMY opened at $7.96 on Wednesday. The company has a 50 day moving average of $7.97 and a two-hundred day moving average of $8.20. Udemy has a 52-week low of $6.67 and a 52-week high of $16.01. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of -12.63 and a beta of 1.95.

Udemy (NASDAQ:UDMY) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.06. Udemy had a negative net margin of 12.33% and a negative return on equity of 29.36%. The firm had revenue of $195.42 million for the quarter, compared to the consensus estimate of $192.69 million. During the same quarter in the previous year, the firm posted ($0.10) EPS. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. On average, equities analysts anticipate that Udemy will post -0.47 earnings per share for the current year.

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.