Brokerages Set Udemy, Inc. (NASDAQ:UDMY) Price Target at $10.95

Udemy, Inc. (NASDAQ:UDMY) has been given an average recommendation of “Moderate Buy” by the twelve analysts that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $10.95.

Several equities analysts recently weighed in on UDMY shares. Scotiabank initiated coverage on Udemy in a research note on Thursday, December 5th. They issued a “sector outperform” rating and a $10.00 price objective for the company. Canaccord Genuity Group raised their price target on Udemy from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Friday, February 14th. William Blair downgraded Udemy from an “outperform” rating to a “market perform” rating in a research note on Wednesday, March 12th. Morgan Stanley increased their price objective on shares of Udemy from $7.50 to $9.00 and gave the company an “underweight” rating in a research note on Thursday, February 20th. Finally, Needham & Company LLC restated a “buy” rating and set a $11.00 target price on shares of Udemy in a report on Wednesday, March 12th.

Udemy Stock Down 8.9 %

NASDAQ:UDMY opened at $7.20 on Tuesday. The firm’s fifty day simple moving average is $8.55 and its 200-day simple moving average is $8.25. The stock has a market cap of $1.06 billion, a PE ratio of -12.63 and a beta of 1.76. Udemy has a fifty-two week low of $6.67 and a fifty-two week high of $11.60.

Udemy (NASDAQ:UDMY) last released its quarterly earnings data on Thursday, February 13th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.10). Udemy had a negative return on equity of 27.93% and a negative net margin of 10.84%. The company had revenue of $199.94 million for the quarter, compared to analysts’ expectations of $194.70 million. Equities analysts anticipate that Udemy will post -0.09 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Heather Hiles sold 14,840 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $9.81, for a total transaction of $145,580.40. Following the completion of the transaction, the director now owns 42,667 shares of the company’s stock, valued at approximately $418,563.27. This represents a 25.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Gregory Scott Brown sold 10,000 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $9.43, for a total transaction of $94,300.00. Following the transaction, the chief executive officer now directly owns 1,141,896 shares in the company, valued at approximately $10,768,079.28. This represents a 0.87 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,305,168 shares of company stock worth $26,040,186. 3.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Udemy

Institutional investors have recently added to or reduced their stakes in the company. Vega Investment Solutions purchased a new position in shares of Udemy in the 4th quarter worth about $46,000. PharVision Advisers LLC acquired a new position in Udemy during the fourth quarter valued at approximately $144,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Udemy by 17.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 181,864 shares of the company’s stock worth $1,497,000 after buying an additional 27,673 shares during the period. Voloridge Investment Management LLC increased its position in shares of Udemy by 11.5% in the fourth quarter. Voloridge Investment Management LLC now owns 254,072 shares of the company’s stock worth $2,091,000 after acquiring an additional 26,289 shares in the last quarter. Finally, Wexford Capital LP purchased a new position in shares of Udemy in the 4th quarter valued at $99,000. Hedge funds and other institutional investors own 79.48% of the company’s stock.

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.