Brokerages Set Udemy, Inc. (NASDAQ:UDMY) PT at $9.63

Shares of Udemy, Inc. (NASDAQ:UDMY) have received an average recommendation of “Hold” from the eleven analysts that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $9.6250.

A number of research firms have issued reports on UDMY. Wall Street Zen raised Udemy from a “buy” rating to a “strong-buy” rating in a research report on Sunday. Weiss Ratings reiterated a “sell (e+)” rating on shares of Udemy in a report on Wednesday, October 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 price objective on shares of Udemy in a research report on Thursday, October 30th. Zacks Research lowered Udemy from a “strong-buy” rating to a “hold” rating in a report on Friday, November 28th. Finally, KeyCorp lowered their price objective on Udemy from $11.00 to $9.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th.

Udemy Stock Up 1.0%

Shares of UDMY stock opened at $5.31 on Friday. The firm has a 50 day moving average of $5.84 and a two-hundred day moving average of $6.63. The stock has a market capitalization of $777.28 million, a PE ratio of -176.94 and a beta of 1.74. Udemy has a 52 week low of $4.86 and a 52 week high of $10.61.

Udemy (NASDAQ:UDMY) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $0.13 earnings per share (EPS) for the quarter, beating 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 positive return on equity of 2.11% and a negative net margin of 0.47%.The company’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period last year, the firm earned $0.07 earnings per share. Analysts expect that Udemy will post -0.09 EPS for the current fiscal year.

Udemy declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, September 10th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to buy up to 5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In related news, CFO Sarah Blanchard sold 25,000 shares of the business’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $7.08, for a total value of $177,000.00. Following the completion of the sale, the chief financial officer directly owned 1,287,953 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at this hyperlink. 3.20% of the stock is owned by corporate insiders.

Institutional Trading of Udemy

A number of hedge funds and other institutional investors have recently made changes to their positions in UDMY. State of Alaska Department of Revenue acquired a new stake in shares of Udemy in the 3rd quarter valued at about $56,000. Osaic Holdings Inc. purchased a new stake in Udemy in the second quarter valued at approximately $56,000. New York State Teachers Retirement System acquired a new stake in shares of Udemy in the second quarter valued at approximately $58,000. CIBC Bancorp USA Inc. acquired a new stake in shares of Udemy in the third quarter valued at approximately $73,000. Finally, Prelude Capital Management LLC purchased a new position in shares of Udemy during the third quarter worth approximately $79,000. Institutional investors and hedge funds own 79.48% of the company’s stock.

Udemy Company Profile

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.