Udemy (NASDAQ:UDMY) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Udemy (NASDAQ:UDMY) from a buy rating to a strong-buy rating in a research report sent to investors on Sunday.

Several other equities research analysts have also recently issued reports on UDMY. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Udemy in a report on Wednesday, October 8th. Zacks Research cut Udemy from a “strong-buy” rating to a “hold” rating in a report on Friday, November 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 price objective on shares of Udemy in a report on Thursday, October 30th. Canaccord Genuity Group reiterated a “buy” rating and set a $12.00 target price on shares of Udemy in a research report on Thursday, October 30th. Finally, KeyCorp reduced their price target on shares of Udemy from $11.00 to $9.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $9.63.

Udemy Price Performance

UDMY stock opened at $5.31 on Friday. Udemy has a 1-year low of $4.86 and a 1-year high of $10.61. The business has a 50 day simple moving average of $5.84 and a two-hundred day simple moving average of $6.63. The company has a market capitalization of $777.28 million, a price-to-earnings ratio of -176.94 and a beta of 1.74.

Udemy (NASDAQ:UDMY) last released 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 firm had revenue of $195.68 million for the quarter, compared to analysts’ expectations of $193.09 million. Udemy had a negative net margin of 0.47% and a positive return on equity of 2.11%. The company’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter last year, the business posted $0.07 earnings per share. Sell-side analysts anticipate that Udemy will post -0.09 EPS for the current fiscal year.

Udemy declared that its board has approved a share repurchase program on Wednesday, September 10th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to purchase up to 5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Insider Transactions at Udemy

In other news, CFO Sarah Blanchard sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $7.08, for a total transaction of $177,000.00. Following the transaction, the chief financial officer owned 1,287,953 shares of the company’s stock, valued at approximately $9,118,707.24. This represents a 1.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 3.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Udemy

Hedge funds have recently bought and sold shares of the business. Osaic Holdings Inc. bought a new stake in shares of Udemy during the second quarter worth $56,000. State of Alaska Department of Revenue bought a new stake in Udemy during the 3rd quarter valued at about $56,000. New York State Teachers Retirement System bought a new stake in Udemy during the 2nd quarter valued at about $58,000. CIBC Bancorp USA Inc. purchased a new stake in Udemy in the 3rd quarter valued at about $73,000. Finally, Hsbc Holdings PLC bought a new position in Udemy in the 1st quarter worth about $82,000. 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.