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Udemy, Inc. (NASDAQ:UDMY – Get Rating) – Stock analysts at Jefferies Financial Group reduced their Q1 2023 earnings per share (EPS) estimates for shares of Udemy in a report issued on Wednesday, February 15th. Jefferies Financial Group analyst B. Thill now forecasts that the company will earn ($0.22) per share for the quarter, down from their prior forecast of ($0.15). The consensus estimate for Udemy’s current full-year earnings is ($0.60) per share. Jefferies Financial Group also issued estimates for Udemy’s Q2 2023 earnings at ($0.16) EPS, Q3 2023 earnings at ($0.13) EPS, Q4 2023 earnings at ($0.08) EPS, FY2023 earnings at ($0.59) EPS and FY2024 earnings at ($0.36) EPS.
A number of other analysts also recently commented on UDMY. Robert W. Baird decreased their price target on Udemy from $16.00 to $15.00 and set an “outperform” rating for the company in a research report on Wednesday, February 15th. Needham & Company LLC reduced their price target on Udemy from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Wednesday, February 15th. KeyCorp reduced their target price on Udemy from $19.00 to $15.00 and set an “overweight” rating on the stock in a report on Wednesday, February 15th. Cantor Fitzgerald lowered their price objective on Udemy from $20.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 15th. Finally, Morgan Stanley lowered their price target on Udemy from $16.00 to $15.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 15th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $16.80.
Udemy Price Performance
NASDAQ UDMY opened at $10.65 on Monday. The business has a 50 day simple moving average of $11.42 and a 200 day simple moving average of $13.30. The stock has a market capitalization of $1.51 billion, a P/E ratio of -9.86 and a beta of 1.74. Udemy has a one year low of $9.47 and a one year high of $17.26.
Institutional Trading of Udemy
A number of institutional investors and hedge funds have recently modified their holdings of the stock. IFP Advisors Inc acquired a new position in Udemy in the 3rd quarter valued at about $32,000. Daiwa Securities Group Inc. increased its position in shares of Udemy by 70.6{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in the 3rd quarter. Daiwa Securities Group Inc. now owns 2,900 shares of the company’s stock valued at $35,000 after purchasing an additional 1,200 shares during the last quarter. Point72 Hong Kong Ltd increased its position in shares of Udemy by 141.9{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in the 3rd quarter. Point72 Hong Kong Ltd now owns 3,184 shares of the company’s stock valued at $38,000 after purchasing an additional 1,868 shares during the last quarter. Lazard Asset Management LLC purchased a new position in shares of Udemy in the 1st quarter valued at $46,000. Finally, Quantbot Technologies LP purchased a new position in shares of Udemy in the 2nd quarter valued at $58,000. Hedge funds and other institutional investors own 73.26{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} of the company’s stock.
Insider Transactions at Udemy
In other news, insider Gregory Scott Brown sold 317,740 shares of Udemy stock in a transaction on Wednesday, December 21st. The shares were sold at an average price of $10.67, for a total transaction of $3,390,285.80. Following the completion of the sale, the insider now directly owns 965,262 shares in the company, valued at $10,299,345.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Udemy news, insider Gregory Scott Brown sold 317,740 shares of the company’s stock in a transaction dated Wednesday, December 21st. The shares were sold at an average price of $10.67, for a total value of $3,390,285.80. Following the completion of the transaction, the insider now owns 965,262 shares in the company, valued at $10,299,345.54. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Sarah Blanchard sold 203,110 shares of the company’s stock in a transaction dated Wednesday, December 14th. The stock was sold at an average price of $12.13, for a total transaction of $2,463,724.30. Following the completion of the transaction, 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 ninety days, insiders sold 635,688 shares of company stock worth $7,209,599. Company insiders own 39.20{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} of the company’s stock.
About Udemy
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.
Further Reading
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