Udemy (NASDAQ:UDMY) Reaches New 52-Week Low – What’s Next?

Udemy, Inc. (NASDAQ:UDMY)’s share price reached a new 52-week low on Monday . The stock traded as low as $4.35 and last traded at $4.4750, with a volume of 251689 shares changing hands. The stock had previously closed at $4.69.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on UDMY. KeyCorp cut Udemy from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, January 13th. Canaccord Genuity Group set a $5.00 price objective on Udemy in a report on Monday. Weiss Ratings reissued a “sell (e+)” rating on shares of Udemy in a research report on Wednesday, January 21st. Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 target price on shares of Udemy in a research report on Thursday, October 30th. Finally, Zacks Research lowered shares of Udemy from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 28th. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $8.75.

Udemy Stock Down 0.6%

The firm has a fifty day moving average price of $5.35 and a two-hundred day moving average price of $6.08. The stock has a market capitalization of $687.99 million, a P/E ratio of 235.12 and a beta of 1.72.

Udemy (NASDAQ:UDMY) last announced its quarterly earnings results on Thursday, February 5th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. The company had revenue of $193.99 million for the quarter, compared to analysts’ expectations of $193.40 million. Udemy had a net margin of 0.48% and a return on equity of 4.78%. Udemy’s revenue was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.10 EPS. Sell-side analysts anticipate that Udemy, Inc. will post -0.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Udemy news, CFO Sarah Blanchard sold 25,000 shares of Udemy stock in a transaction on Monday, December 15th. The stock was sold at an average price of $5.25, for a total value of $131,250.00. Following the completion of the sale, the chief financial officer owned 1,208,046 shares of the company’s stock, valued at approximately $6,342,241.50. This trade represents a 2.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Udemy

Institutional investors have recently modified their holdings of the business. State of Alaska Department of Revenue purchased a new position in Udemy in the 3rd quarter worth about $56,000. Osaic Holdings Inc. bought a new stake in shares of Udemy in the second quarter worth approximately $56,000. New York State Teachers Retirement System purchased a new position in shares of Udemy during the second quarter valued at approximately $58,000. WINTON GROUP Ltd bought a new position in Udemy during the fourth quarter valued at approximately $69,000. Finally, Royce & Associates LP bought a new position in Udemy during the fourth quarter valued at approximately $70,000. 79.48% of the stock is owned by hedge funds and other institutional investors.

About Udemy

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.