Udemy’s (UDMY) “Hold” Rating Reiterated at Truist Financial

Truist Financial reaffirmed their hold rating on shares of Udemy (NASDAQ:UDMY) in a research report report published on Monday morning, Marketbeat Ratings reports. The brokerage currently has a $7.00 price target on the stock, down from their previous price target of $10.00.

Several other brokerages also recently weighed in on UDMY. Canaccord Genuity Group raised their target price on Udemy from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Morgan Stanley raised their price objective on Udemy from $7.50 to $9.00 and gave the company an “underweight” rating in a research note on Thursday, February 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 target price on shares of Udemy in a research report on Wednesday, March 12th. Finally, William Blair cut Udemy from an “outperform” rating to a “market perform” rating in a research note on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Udemy has a consensus rating of “Moderate Buy” and an average price target of $10.68.

Udemy Stock Performance

Shares of NASDAQ:UDMY opened at $6.80 on Monday. The business’s 50-day simple moving average is $8.40 and its 200 day simple moving average is $8.18. The company has a market cap of $1.00 billion, a P/E ratio of -11.93 and a beta of 1.81. Udemy has a one year low of $5.68 and a one year high of $11.60.

Udemy (NASDAQ:UDMY) last posted its quarterly earnings data on Thursday, February 13th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.10). The firm had revenue of $199.94 million for the quarter, compared to analysts’ expectations of $194.70 million. Udemy had a negative net margin of 10.84% and a negative return on equity of 27.93%. Analysts predict that Udemy will post -0.09 earnings per share for the current year.

Insider Buying and Selling at Udemy

In other news, CTO Eren Bali sold 10,000 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $8.02, for a total transaction of $80,200.00. Following the sale, the chief technology officer now directly owns 2,146,050 shares in the company, valued at approximately $17,211,321. This represents a 0.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Heather Hiles sold 14,840 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $9.81, for a total value of $145,580.40. Following the transaction, the director now owns 42,667 shares of the company’s stock, valued at $418,563.27. This represents a 25.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,305,168 shares of company stock worth $26,040,186 over the last 90 days. Insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Udemy

Several institutional investors have recently modified their holdings of UDMY. Point72 DIFC Ltd bought a new stake in Udemy in the 3rd quarter valued at about $30,000. SBI Securities Co. Ltd. bought a new stake in shares of Udemy during the fourth quarter valued at approximately $31,000. Quarry LP acquired a new position in shares of Udemy during the fourth quarter worth approximately $34,000. Vega Investment Solutions bought a new position in Udemy in the 4th quarter worth approximately $46,000. Finally, GAMMA Investing LLC increased 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 acquiring an additional 5,890 shares during the period. Institutional investors own 79.48% of the company’s stock.

About Udemy

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.