Udemy, Inc. (NASDAQ:UDMY) Given Average Rating of “Hold” by Brokerages

Udemy, Inc. (NASDAQ:UDMY) has been given a consensus recommendation of “Hold” by the eleven ratings firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $9.6250.

A number of research analysts have commented on the company. Canaccord Genuity Group reaffirmed a “buy” rating and set a $12.00 target price on shares of Udemy in a report on Thursday, October 30th. Zacks Research lowered Udemy from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 28th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Udemy in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Udemy from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Finally, Needham & Company LLC restated a “buy” rating and issued a $11.00 price target on shares of Udemy in a research report on Thursday, October 30th.

Udemy Stock Performance

UDMY opened at $5.24 on Friday. The company has a market capitalization of $767.03 million, a P/E ratio of -174.61 and a beta of 1.74. The company has a 50-day moving average of $5.91 and a 200-day moving average of $6.66. Udemy has a 1-year low of $4.86 and a 1-year high of $10.61.

Udemy (NASDAQ:UDMY) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.10 by $0.03. The business had revenue of $195.68 million for 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 2.11%. The company’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter last year, the company posted $0.07 earnings per share. As a group, sell-side analysts expect that Udemy will post -0.09 earnings per share for the current fiscal year.

Udemy announced that its board has authorized a stock repurchase program on Wednesday, September 10th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to buy up to 5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are 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 stock was sold at an average price of $7.08, for a total value of $177,000.00. Following the completion of the transaction, 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 legal filing with the SEC, which is available at this link. 2.10% of the stock is owned by corporate insiders.

Institutional Trading of Udemy

A number of institutional investors and hedge funds have recently made changes to their positions in UDMY. XTX Topco Ltd bought a new position in Udemy during the 1st quarter worth $314,000. Vanguard Group Inc. grew its position in shares of Udemy by 12.2% during the first 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. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Udemy by 139.2% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 241,465 shares of the company’s stock worth $1,874,000 after acquiring an additional 140,536 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Udemy by 16.9% in the 1st quarter. Invesco Ltd. now owns 96,439 shares of the company’s stock worth $748,000 after acquiring an additional 13,936 shares during the period. Finally, Nuveen LLC bought a new stake in Udemy in the 1st quarter valued at about $1,718,000. 79.48% of the stock is currently owned by institutional investors and hedge funds.

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.