Udemy, Inc. (NASDAQ:UDMY) Receives Average Recommendation of “Hold” from Analysts

Udemy, Inc. (NASDAQ:UDMY) has been given a consensus recommendation of “Hold” by the seven research firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $8.80.

Several analysts have recently commented on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Udemy in a report on Wednesday, January 21st. KeyCorp downgraded shares of Udemy from an “overweight” rating to a “sector weight” rating in a report on Tuesday, January 13th. Finally, Canaccord Genuity Group set a $5.00 price objective on shares of Udemy in a report on Monday, February 9th.

Insider Activity

In related news, CFO Sarah Blanchard sold 25,000 shares of the business’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $4.78, for a total value of $119,500.00. Following the completion of the transaction, the chief financial officer directly owned 1,455,763 shares in the company, valued at $6,958,547.14. The trade was a 1.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 3.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Udemy

Several large investors have recently made changes to their positions in UDMY. AQR Capital Management LLC lifted its stake in shares of Udemy by 217.6% in the 1st quarter. AQR Capital Management LLC now owns 205,212 shares of the company’s stock valued at $1,592,000 after purchasing an additional 140,597 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Udemy by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,071 shares of the company’s stock valued at $420,000 after purchasing an additional 2,399 shares during the period. Millennium Management LLC lifted its stake in shares of Udemy by 5.0% in the 1st quarter. Millennium Management LLC now owns 753,782 shares of the company’s stock valued at $5,849,000 after purchasing an additional 35,577 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Udemy by 45.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 658,603 shares of the company’s stock valued at $5,111,000 after purchasing an additional 205,104 shares during the period. Finally, Jane Street Group LLC lifted its stake in shares of Udemy by 116.6% in the 1st quarter. Jane Street Group LLC now owns 143,497 shares of the company’s stock valued at $1,114,000 after purchasing an additional 77,260 shares during the period. 79.48% of the stock is currently owned by institutional investors and hedge funds.

Udemy Price Performance

UDMY stock opened at $4.63 on Wednesday. The firm’s fifty day simple moving average is $4.78 and its 200-day simple moving average is $5.17. The company has a market capitalization of $675.70 million, a P/E ratio of 231.62 and a beta of 1.59. Udemy has a 12 month low of $4.02 and a 12 month high of $8.09.

Udemy (NASDAQ:UDMY) last released its quarterly earnings data on Thursday, February 5th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.10 by $0.02. The business had revenue of $193.99 million for the quarter, compared to the consensus estimate of $193.40 million. Udemy had a net margin of 0.48% and a return on equity of 4.84%. The business’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.10 EPS. As a group, sell-side analysts forecast that Udemy will post -0.01 earnings per share for the current year.

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.