Udemy (NASDAQ:UDMY) Announces Earnings Results

Udemy (NASDAQ:UDMY) announced its quarterly earnings results on Thursday. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.02, FiscalAI reports. The business had revenue of $193.99 million during the quarter, compared to the consensus estimate of $193.40 million. Udemy had a positive return on equity of 2.11% and a negative net margin of 0.47%.

Udemy Trading Down 2.7%

Shares of UDMY stock traded down $0.13 during trading hours on Thursday, reaching $4.69. The stock had a trading volume of 2,954,667 shares, compared to its average volume of 1,992,083. The stock’s fifty day simple moving average is $5.38 and its 200 day simple moving average is $6.16. Udemy has a 12 month low of $4.52 and a 12 month high of $10.61. The firm has a market capitalization of $686.52 million, a PE ratio of -156.28 and a beta of 1.72.

Insider Buying and Selling at Udemy

In other Udemy news, CFO Sarah Blanchard sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $5.25, for a total value of $131,250.00. Following the completion of the transaction, the chief financial officer owned 1,208,046 shares of the company’s stock, valued at $6,342,241.50. The trade was a 2.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Udemy

Institutional investors have recently bought and sold shares of the stock. Osaic Holdings Inc. purchased a new stake in shares of Udemy during the second quarter worth about $56,000. CIBC Bancorp USA Inc. bought a new stake in Udemy during the third quarter worth about $73,000. Prelude Capital Management LLC purchased a new stake in Udemy in the third quarter worth about $79,000. Prudential Financial Inc. bought a new position in shares of Udemy during the second quarter valued at approximately $79,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Udemy by 339.4% during the second quarter. Tower Research Capital LLC TRC now owns 13,292 shares of the company’s stock valued at $93,000 after purchasing an additional 10,267 shares during the last quarter. 79.48% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on UDMY shares. KeyCorp cut shares of Udemy from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, January 13th. Zacks Research downgraded shares of Udemy from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 28th. Wall Street Zen upgraded shares of Udemy from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 7th. Weiss Ratings reissued a “sell (e+)” rating on shares of Udemy in a research note on Wednesday, January 21st. Finally, Needham & Company LLC reiterated a “buy” rating and set a $11.00 price objective on shares of Udemy in a report on Thursday, October 30th. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $9.00.

Udemy Company Profile

Udemy, Inc (NASDAQ: UDMY) operates a leading online learning marketplace that connects learners and instructors across a wide range of subject areas. The company’s platform hosts thousands of self-paced video courses covering technology, business, personal development, creative arts and more. Individual learners can purchase courses on demand, while instructors receive revenue share for teaching content to a global audience.

In addition to its consumer-facing marketplace, Udemy provides enterprise learning solutions under the Udemy for Business brand.