Udemy, Inc. (NASDAQ:UDMY – Get Rating) – Equities researchers at Jefferies Financial Group raised their FY2023 earnings per share estimates for Udemy in a note issued to investors on Monday, January 9th. Jefferies Financial Group analyst B. Thill now anticipates that the company will earn ($0.84) per share for the year, up from their previous forecast of ($0.85). The consensus estimate for Udemy's current full-year earnings is ($1.02) per share.
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Other equities analysts also recently issued reports about the company. Piper Sandler increased their target price on Udemy from $13.00 to $14.50 and gave the stock a "neutral" rating in a research report on Friday, November 4th. KeyCorp increased their target price on Udemy from $16.00 to $19.00 and gave the stock an "overweight" rating in a research report on Friday, November 18th. JPMorgan Chase & Co. reduced their target price on Udemy from $16.00 to $14.00 and set a "neutral" rating on the stock in a research report on Thursday, November 3rd. Finally, Robert W. Baird dropped their price target on Udemy from $20.00 to $16.00 in a research note on Monday, December 12th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $18.17.
Udemy Stock Performance
NASDAQ UDMY opened at $11.15 on Thursday. The business's 50-day moving average price is $12.87 and its 200 day moving average price is $13.18. Udemy has a twelve month low of $9.47 and a twelve month high of $17.26. The company has a market capitalization of $1.58 billion, a PE ratio of -10.32 and a beta of 1.60.
Udemy (NASDAQ:UDMY – Get Rating) last released its earnings results on Wednesday, November 2nd. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.07). Udemy had a negative return on equity of 36.30% and a negative net margin of 23.37%. The business had revenue of $158.43 million for the quarter, compared to analysts' expectations of $155.18 million.
Insider Activity
In other news, CTO Venu Venugopal sold 2,480 shares of the stock in a transaction dated Wednesday, December 21st. The stock was sold at an average price of $10.67, for a total value of $26,461.60. Following the completion of the sale, the chief technology officer now owns 268,050 shares in the company, valued at $2,860,093.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CTO Venu Venugopal sold 2,480 shares of the stock in a transaction dated Wednesday, December 21st. The stock was sold at an average price of $10.67, for a total value of $26,461.60. Following the completion of the sale, the chief technology officer now owns 268,050 shares in the company, valued at $2,860,093.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Sarah Blanchard sold 203,110 shares of the stock in a transaction dated Wednesday, December 14th. The shares were sold at an average price of $12.13, for a total value of $2,463,724.30. Following the completion of the sale, the chief financial officer now owns 1,091,709 shares of the company's stock, valued at approximately $13,242,430.17. The disclosure for this sale can be found here. Over the last quarter, insiders sold 637,279 shares of company stock worth $7,232,557. 39.20% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the business. Landscape Capital Management L.L.C. purchased a new position in Udemy in the second quarter valued at about $121,000. Russell Investments Group Ltd. purchased a new position in Udemy in the second quarter valued at about $1,906,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Udemy in the second quarter valued at about $312,000. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its holdings in Udemy by 5.5% in the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 19,224 shares of the company's stock valued at $196,000 after purchasing an additional 996 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in Udemy by 70.6% during the 3rd quarter. Daiwa Securities Group Inc. now owns 2,900 shares of the company's stock worth $35,000 after buying an additional 1,200 shares during the last quarter. Hedge funds and other institutional investors own 73.26% of the company's stock.
Udemy Company Profile
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Udemy, Inc operates a marketplace platform for teaching and learning skills in the United States and internationally. The company offers technical and business skills, and personal development courses for individual learners and enterprise customers. Its platform provides 49 million learners with access to approximately 180,000 courses through direct-to-consumer or Udemy Business offerings in approximately 75 languages.
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