Brokerages Set Udemy, Inc. (NASDAQ:UDMY) Price Target at $9.00

Udemy, Inc. (NASDAQ:UDMY) has been given an average rating of “Hold” by the eleven research firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $9.00.

Several research analysts have weighed in on the company. KeyCorp cut Udemy from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, January 13th. Zacks Research downgraded shares of Udemy from a “strong-buy” rating to a “hold” rating in a report on Friday, November 28th. Needham & Company LLC reiterated a “buy” rating and issued a $11.00 price target on shares of Udemy in a research report on Thursday, October 30th. Canaccord Genuity Group downgraded Udemy from a “buy” rating to a “hold” rating and reduced their price target for the stock from $12.00 to $7.00 in a research report on Wednesday, December 17th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Udemy in a report on Wednesday, January 21st.

Udemy Stock Up 0.2%

NASDAQ:UDMY opened at $4.89 on Monday. Udemy has a 12-month low of $4.83 and a 12-month high of $10.61. The stock’s 50 day moving average price is $5.40 and its two-hundred day moving average price is $6.23. The firm has a market capitalization of $715.80 million, a price-to-earnings ratio of -162.95 and a beta of 1.73.

Udemy (NASDAQ:UDMY) last released its quarterly earnings data on Wednesday, October 29th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. Udemy had a negative net margin of 0.47% and a positive return on equity of 2.11%. The firm had revenue of $195.68 million during the quarter, compared to analysts’ expectations of $193.09 million. During the same period in the previous year, the business posted $0.07 earnings per share. The company’s revenue for the quarter was up .1% compared to the same quarter last year. Equities research analysts expect that Udemy will post -0.09 EPS for the current year.

Insider Buying and Selling

In other news, CFO Sarah Blanchard sold 25,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer directly owned 1,208,046 shares in the company, valued at approximately $6,342,241.50. The trade was a 2.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Udemy

A number of hedge funds have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. lifted its stake in shares of Udemy by 15.4% in the 4th quarter. Harbor Capital Advisors Inc. now owns 28,671 shares of the company’s stock valued at $168,000 after acquiring an additional 3,828 shares during the last quarter. Mirador Capital Partners LP boosted its position in Udemy by 99.6% during the 4th quarter. Mirador Capital Partners LP now owns 35,925 shares of the company’s stock worth $210,000 after buying an additional 17,925 shares during the period. SG Americas Securities LLC grew its holdings in Udemy by 52.5% during the 4th quarter. SG Americas Securities LLC now owns 64,460 shares of the company’s stock worth $377,000 after acquiring an additional 22,194 shares during the last quarter. JPMorgan Chase & Co. increased its position in Udemy by 57.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,108,057 shares of the company’s stock valued at $7,767,000 after acquiring an additional 404,100 shares during the period. Finally, CIBC Bancorp USA Inc. bought a new position in shares of Udemy during the third quarter valued at $73,000. 79.48% of the stock is currently owned by institutional investors and hedge funds.

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.