Udemy (NASDAQ:UDMY) Sets New 1-Year Low – Here’s Why

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 traded. The stock had previously closed at $4.69.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on UDMY. 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 report on Friday, November 28th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Udemy in a research note on Wednesday, January 21st. Needham & Company LLC reissued a “buy” rating and issued a $11.00 price objective on shares of Udemy in a research note on Thursday, October 30th. Finally, Canaccord Genuity Group set a $5.00 price objective on shares of Udemy in a research note on Monday. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $8.75.

Udemy Price Performance

The firm’s 50-day moving average price is $5.36 and its 200-day moving average price is $6.12. The company has a market cap of $688.72 million, a price-to-earnings ratio of 235.37 and a beta of 1.72.

Udemy (NASDAQ:UDMY) last posted its quarterly earnings data on Thursday, February 5th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.02. Udemy had a net margin of 0.48% and a return on equity of 4.78%. The business had revenue of $193.99 million during the quarter, compared to analysts’ expectations of $193.40 million. During the same period last year, the firm posted $0.10 earnings per share. The business’s revenue was down 3.0% on a year-over-year basis. On average, sell-side analysts anticipate that Udemy, Inc. will post -0.09 earnings per share for the current year.

Insider Buying and Selling

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 stock was sold at an average price of $5.25, for a total value of $131,250.00. Following the sale, the chief financial officer owned 1,208,046 shares in the company, valued at approximately $6,342,241.50. The trade was a 2.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Udemy

A number of institutional investors and hedge funds have recently bought and sold shares of the company. State of Alaska Department of Revenue purchased a new stake in Udemy in the 3rd quarter valued at about $56,000. Osaic Holdings Inc. purchased a new stake in Udemy during the second quarter valued at approximately $56,000. New York State Teachers Retirement System purchased a new stake in shares of Udemy during the 2nd quarter worth approximately $58,000. CIBC Bancorp USA Inc. bought a new position in Udemy in the third quarter worth approximately $73,000. Finally, Prelude Capital Management LLC purchased a new stake in shares of Udemy during the 3rd quarter valued at $79,000. Institutional investors and hedge funds own 79.48% of the company’s stock.

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.