Udemy, Inc. (NASDAQ:UDMY) Expected to Post Quarterly Sales of $149.50 Million

Wall Street brokerages expect that Udemy, Inc. (NASDAQ:UDMYGet Rating) will announce sales of $149.50 million for the current quarter, according to Zacks. Seven analysts have provided estimates for Udemy’s earnings. The highest sales estimate is $151.10 million and the lowest is $148.18 million. The company is scheduled to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Udemy will report full-year sales of $623.96 million for the current fiscal year, with estimates ranging from $619.40 million to $629.20 million. For the next year, analysts expect that the company will report sales of $764.59 million, with estimates ranging from $723.70 million to $794.90 million. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Udemy.

Udemy (NASDAQ:UDMYGet Rating) last posted its quarterly earnings data on Wednesday, May 4th. The company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.06. The firm had revenue of $152.20 million during the quarter, compared to analysts’ expectations of $146.63 million. Udemy’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.21) EPS.

Several equities research analysts have issued reports on UDMY shares. KeyCorp dropped their target price on Udemy from $20.00 to $15.00 in a research report on Thursday, May 5th. Cantor Fitzgerald started coverage on Udemy in a research report on Tuesday, March 29th. They set an “overweight” rating and a $22.00 target price on the stock. Needham & Company LLC dropped their target price on Udemy from $25.00 to $17.00 in a research report on Thursday, May 5th. Robert W. Baird lowered their price objective on Udemy from $25.00 to $18.00 in a research report on Thursday, May 5th. Finally, Berenberg Bank started coverage on Udemy in a research report on Thursday, March 17th. They issued a “buy” rating and a $30.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $26.85.

Shares of NASDAQ:UDMY traded up $0.84 during trading on Friday, hitting $12.19. 699,399 shares of the company were exchanged, compared to its average volume of 629,857. The firm’s 50 day moving average is $11.84. Udemy has a 52-week low of $9.66 and a 52-week high of $32.62.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. New York State Common Retirement Fund bought a new position in shares of Udemy during the fourth quarter valued at about $49,000. Emerald Mutual Fund Advisers Trust bought a new position in shares of Udemy during the fourth quarter valued at about $2,937,000. Ion Asset Management Ltd. bought a new position in shares of Udemy during the fourth quarter valued at about $434,000. Daiwa Securities Group Inc. bought a new position in shares of Udemy during the fourth quarter valued at about $25,000. Finally, Emerald Advisers LLC bought a new position in shares of Udemy during the fourth quarter valued at about $4,355,000. 66.69% of the stock is currently owned by institutional investors and hedge funds.

Udemy Company Profile (Get Rating)

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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Earnings History and Estimates for Udemy (NASDAQ:UDMY)

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