Udemy (NASDAQ:UDMY) Cut to Buy at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen lowered shares of Udemy (NASDAQ:UDMY – Free Report) from a strong-buy rating to a buy rating in a research report sent to investors on Saturday morning.

A number of other analysts also recently commented on the stock. Morgan Stanley upgraded shares of Udemy from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $7.00 to $9.00 in a report on Thursday, June 5th. Robert W. Baird cut their price objective on shares of Udemy from $13.00 to $11.00 and set an “outperform” rating for the company in a report on Thursday, May 1st. Needham & Company LLC reiterated a “buy” rating and issued a $11.00 price objective on shares of Udemy in a report on Thursday, May 1st. JPMorgan Chase & Co. cut their price objective on shares of Udemy from $11.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, April 24th. Finally, Canaccord Genuity Group cut their price objective on shares of Udemy from $14.00 to $12.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.05.

Read Our Latest Stock Report on Udemy

Udemy Trading Up 2.8%

Shares of Udemy stock opened at $6.72 on Friday. The firm has a market capitalization of $999.47 million, a PE ratio of -14.61 and a beta of 1.77. Udemy has a twelve month low of $5.68 and a twelve month high of $10.61. The firm’s 50-day moving average price is $7.04 and its 200 day moving average price is $7.64.

Udemy (NASDAQ:UDMY – Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. The firm had revenue of $200.30 million for the quarter, compared to analyst estimates of $197.19 million. Udemy had a negative net margin of 8.70% and a negative return on equity of 22.68%. Udemy’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period last year, the company posted $0.03 EPS. On average, sell-side analysts predict that Udemy will post -0.09 EPS for the current fiscal year.

Insider Activity at Udemy

In other Udemy news, CEO Hugo Sarrazin purchased 22,695 shares of the firm’s stock in a transaction on Wednesday, May 21st. The stock was bought at an average price of $6.91 per share, with a total value of $156,822.45. Following the transaction, the chief executive officer directly owned 47,580 shares of the company’s stock, valued at approximately $328,777.80. This represents a 91.20% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sarah Blanchard sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $6.99, for a total transaction of $174,750.00. Following the completion of the transaction, the chief financial officer directly owned 1,077,097 shares of the company’s stock, valued at $7,528,908.03. This represents a 2.27% decrease in their position. The disclosure for this sale can be found here. Insiders purchased a total of 47,580 shares of company stock valued at $330,894 in the last quarter. 2.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Udemy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quarry LP purchased a new position in Udemy in the 4th quarter valued at approximately $34,000. Vega Investment Solutions purchased a new position in Udemy in the 4th quarter valued at approximately $46,000. GAMMA Investing LLC boosted its position in Udemy by 558.3% in the 1st quarter. GAMMA Investing LLC now owns 6,945 shares of the company’s stock valued at $54,000 after buying an additional 5,890 shares during the period. State of Wyoming purchased a new position in Udemy in the 4th quarter valued at approximately $59,000. Finally, Nebula Research & Development LLC purchased a new position in Udemy in the 4th quarter valued at approximately $85,000. Hedge funds and other institutional investors own 79.48% of the company’s stock.

Udemy Company Profile

(Get Free Report)

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.

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