Udemy (NASDAQ:UDMY) Trading Down 6.8% – What’s Next?

by · The Cerbat Gem

Udemy, Inc. (NASDAQ:UDMYGet Free Report) shares fell 6.8% during mid-day trading on Tuesday . The stock traded as low as $5.46 and last traded at $5.4250. 735,482 shares were traded during trading, a decline of 54% from the average session volume of 1,608,418 shares. The stock had previously closed at $5.82.

Wall Street Analyst Weigh In

UDMY has been the topic of several recent research reports. Canaccord Genuity Group lowered Udemy from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $12.00 to $7.00 in a report on Wednesday, December 17th. Needham & Company LLC reiterated a “buy” rating and set a $11.00 price target on shares of Udemy in a research note on Thursday, October 30th. Weiss Ratings restated a “sell (e+)” rating on shares of Udemy in a research note on Wednesday, October 8th. Zacks Research cut Udemy from a “strong-buy” rating to a “hold” rating in a report on Friday, November 28th. Finally, KeyCorp lowered shares of Udemy from an “overweight” rating to a “sector weight” rating in a report on Tuesday. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $9.00.

Check Out Our Latest Research Report on UDMY

Udemy Price Performance

The business’s 50-day moving average price is $5.43 and its two-hundred day moving average price is $6.39. The company has a market capitalization of $749.47 million, a P/E ratio of -170.61 and a beta of 1.73.

Udemy (NASDAQ:UDMYGet Free Report) last issued 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 during the quarter, compared to analyst estimates of $193.09 million. Udemy had a positive return on equity of 2.11% and a negative net margin of 0.47%.Udemy’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.07 EPS. Research analysts expect that Udemy, Inc. will post -0.09 earnings per share for the current fiscal year.

Insider Activity at Udemy

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. SG Americas Securities LLC raised its position in Udemy by 52.5% in the 4th quarter. SG Americas Securities LLC now owns 64,460 shares of the company’s stock valued at $377,000 after buying an additional 22,194 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Udemy by 57.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,108,057 shares of the company’s stock worth $7,767,000 after acquiring an additional 404,100 shares in the last quarter. CIBC Bancorp USA Inc. bought a new position in shares of Udemy during the 3rd quarter worth approximately $73,000. Inflection Point Investments LLP lifted its position in shares of Udemy by 15.5% in the third quarter. Inflection Point Investments LLP now owns 603,897 shares of the company’s stock worth $4,233,000 after purchasing an additional 81,000 shares in the last quarter. Finally, Danske Bank A S acquired a new position in Udemy during the third quarter worth $584,000. 79.48% of the stock is owned by institutional investors and hedge funds.

Udemy Company Profile

(Get Free Report)

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.

Read More