Udemy (NASDAQ:UDMY) Issues Quarterly Earnings Results

Udemy (NASDAQ:UDMY) released its quarterly earnings results on Thursday. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.10 by $0.02, FiscalAI reports. Udemy had a net margin of 0.48% and a return on equity of 4.78%. The company had revenue of $193.99 million for the quarter, compared to analyst estimates of $193.40 million. During the same quarter last year, the business earned $0.10 earnings per share. The firm’s revenue was down 3.0% on a year-over-year basis.

Udemy Stock Down 0.6%

UDMY stock traded down $0.03 during trading on Tuesday, reaching $4.70. 2,141,953 shares of the company’s stock were exchanged, compared to its average volume of 2,148,681. Udemy has a 1-year low of $4.35 and a 1-year high of $10.61. The company’s fifty day moving average price is $5.35 and its 200-day moving average price is $6.08. The firm has a market cap of $687.97 million, a PE ratio of 235.12 and a beta of 1.72.

Insider Activity at Udemy

In other news, CFO Sarah Blanchard sold 25,000 shares of the company’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $5.25, for a total value of $131,250.00. Following the transaction, the chief financial officer directly owned 1,208,046 shares of the company’s stock, valued at approximately $6,342,241.50. This represents a 2.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Udemy

Several hedge funds and other institutional investors have recently modified their holdings of UDMY. Osaic Holdings Inc. bought a new stake in Udemy in the 2nd quarter valued at $56,000. CIBC Bancorp USA Inc. bought a new position in Udemy in the third quarter valued at approximately $73,000. Prudential Financial Inc. bought a new stake in Udemy during the second quarter worth $79,000. Prelude Capital Management LLC acquired a new stake in shares of Udemy in the 3rd quarter valued at $79,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of Udemy by 339.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 13,292 shares of the company’s stock valued at $93,000 after purchasing an additional 10,267 shares during the last quarter. Institutional investors own 79.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on UDMY shares. Wall Street Zen upgraded shares of Udemy from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 7th. Needham & Company LLC restated a “buy” rating and issued a $11.00 price objective on shares of Udemy in a research note on Thursday, October 30th. Canaccord Genuity Group set a $5.00 price objective on Udemy in a report on Monday. Zacks Research downgraded Udemy from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 28th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Udemy in a research note on Wednesday, January 21st. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Udemy has an average rating of “Hold” and an average target price of $8.75.

About Udemy

Udemy, Inc (NASDAQ: UDMY) operates a leading online learning marketplace that connects learners and instructors across a wide range of subject areas. The company’s platform hosts thousands of self-paced video courses covering technology, business, personal development, creative arts and more. Individual learners can purchase courses on demand, while instructors receive revenue share for teaching content to a global audience.

In addition to its consumer-facing marketplace, Udemy provides enterprise learning solutions under the Udemy for Business brand.