Udemy, Inc. (NASDAQ:UDMY) has received a “Moderate Buy” consensus rating from the eight ratings firms currently covering the company, according to Bloomberg. Out of the eight analysts, three have given a hold rating, while five have issued a buy rating on the stock. The average 12-month target price among brokers that have updated their coverage in the past year is $13.50.
On Friday, shares of NASDAQ:UDMY opened at $9.18. The firm’s 50-day simple moving average stands at $10.34, and its 200-day simple moving average is $9.89. With a market capitalization of $1.38 billion, Udemy operates with a price-to-earnings ratio of -7.85 and a beta of 1.80. Its one-year low is $8.17 and its one-year high is $17.26.
Several institutional investors have recently made changes to their positions in Udemy. Nisa Investment Advisors LLC saw its holdings in Udemy increase by 169% during the first quarter, now owning 3,067 shares worth approximately $27,000 after purchasing an additional 1,927 shares in the last quarter. Lazard Asset Management LLC also purchased a new position in the company during the first quarter valued at around $46,000.
Tower Research Capital LLC TRC experienced a boost in its Udemy holdings by 58.8% in the second quarter, owning 4,545 shares valued at $49,000 after acquiring an additional 1,683 shares during that period. Additionally, Quantbot Technologies LP bought a new stake in Udemy during the same quarter worth about $58,000.
Furthermore, Royal Bank of Canada increased its holdings in Udemy by an impressive 1,347.9% during the third quarter and now owns 5,922 shares valued at $71,000. In total, institutional investors and hedge funds own 76.75% of the company’s stock.
In terms of financial performance, Udemy released its quarterly earnings results on Thursday, August 3rd. The company reported EPS of ($0.16) for the quarter, surpassing analysts’ consensus estimates of ($0.20) by $0.04. Moreover, Udemy had a negative return on equity of 45.67% and a negative net margin of 24.93%. During the quarter, the firm generated revenue of $178.24 million compared to analysts’ expectations of $172.96 million.
Equities research analysts predict that Udemy will post -0.72 EPS for the current fiscal year.
Overall, with positive analyst ratings and recent changes in institutional investors’ positions, Udemy shows potential for growth in the online education industry. However, it is important for investors to conduct thorough research and consider their risk tolerance before making any investment decisions in this sector.
Note: The information provided above is accurate as of September 30, 2023
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Analyst Reports, Insider Transactions, and the Market Sentiment: Evaluating Udemy Stock’s Performance and Future Prospects
On September 30, 2023, several research analysts released reports on the stock of Udemy, a renowned online learning platform. These reports provided insight into the company’s performance and potential future prospects. Cantor Fitzgerald, for example, decreased their price target on Udemy shares from $16.00 to $15.00 in their report issued on August 4th.
Another prominent research firm, Needham & Company LLC, also lowered their price target on Udemy from $16.00 to $15.00 while maintaining a “buy” rating on the stock. This adjustment was made in a research note published on August 4th as well.
Contrastingly, Piper Sandler took a slightly different stance by increasing their price objective on Udemy from $10.00 to $11.00 and assigning a “neutral” rating to the company. This change was reflected in their report published on August 4th as well.
In other news related to Udemy, Chief Financial Officer Sarah Blanchard recently sold 3,502 shares of the company’s stock in a transaction that took place on September 15th. The average price per share during this transaction was recorded at $9.95 with a total value of $34,844.90.
Following this sale, Blanchard now directly holds 1,101,185 shares of Udemy stock which is currently valued at approximately $10,956,790.75.
The disclosure of Blanchard’s stock sale was made in accordance with legal requirements and filed with the Securities & Exchange Commission (SEC). The document can be accessed through the SEC website or via the link provided.
Moreover, it should be noted that CFO Sarah Blanchard had previously sold an equal amount of 3,502 shares of Udemy stock on September 15th as well for the same average price per share and total transaction value.
Furthermore, another insider transaction occurred involving CTO Venu Venugopal, who sold 3,645 shares of Udemy stock on September 15th. The average price per share during this transaction was also recorded at $9.95, resulting in a total transaction value of $36,267.75.
Following the completion of this transaction, Venugopal now directly holds 381,670 shares of Udemy stock with an estimated value of $3,797,616.50.
All insider transactions in question were duly disclosed in relevant legal filings with the SEC to ensure transparency.
It is worth mentioning that company insiders have collectively sold 162,212 shares of Udemy stock within the last 90 days. These transactions amount to a total value of $1,684,155 and represent approximately 6.20% of the company’s current outstanding shares owned by insiders.
Ultimately, these recent reports from research analysts highlight the evolving market sentiment towards Udemy’s stock as well as shedding light on insider activities within the company. As investors consider their options and evaluate the significance of these developments, they will continue to monitor market conditions and industry trends to make informed decisions regarding their investment strategies.
