Udemy (NASDAQ:UDMY) Stock Price Up 5.6% – Should You Buy?

Shares of Udemy, Inc. (NASDAQ:UDMY) shot up 5.6% on Monday . The company traded as high as $4.63 and last traded at $4.6050. 651,851 shares traded hands during trading, a decline of 67% from the average session volume of 1,993,126 shares. The stock had previously closed at $4.36.

Analysts Set New Price Targets

A number of equities analysts have commented on UDMY shares. KeyCorp lowered Udemy from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, January 13th. Wall Street Zen upgraded Udemy from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 7th. Canaccord Genuity Group set a $5.00 price target on shares of Udemy in a research report on Monday, February 9th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Udemy in a report on Wednesday, January 21st. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Udemy currently has an average rating of “Hold” and a consensus target price of $8.75.

Udemy Stock Performance

The firm’s 50-day moving average is $4.82 and its two-hundred day moving average is $5.57. The stock has a market cap of $664.94 million, a P/E ratio of 228.11 and a beta of 1.70.

Udemy (NASDAQ:UDMY) last announced its quarterly earnings data on Thursday, February 5th. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. The firm had revenue of $193.99 million for the quarter, compared to analyst estimates of $193.40 million. Udemy had a return on equity of 4.84% and a net margin of 0.48%.The business’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same period last year, the company earned $0.10 EPS. As a group, research analysts forecast that Udemy, Inc. will post -0.09 EPS for the current year.

Insider Transactions at Udemy

In related news, CFO Sarah Blanchard sold 25,000 shares of the firm’s stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $4.78, for a total value of $119,500.00. Following the transaction, the chief financial officer owned 1,455,763 shares in the company, valued at $6,958,547.14. This trade represents a 1.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Udemy by 3.8% in the third quarter. Vanguard Group Inc. now owns 11,895,585 shares of the company’s stock valued at $83,388,000 after buying an additional 436,984 shares during the period. Assenagon Asset Management S.A. grew its holdings in Udemy by 70.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,474,417 shares of the company’s stock worth $31,366,000 after acquiring an additional 1,854,550 shares during the period. Quantbot Technologies LP acquired a new stake in Udemy during the 2nd quarter worth $825,000. Geode Capital Management LLC raised its position in shares of Udemy by 3.7% during the 2nd quarter. Geode Capital Management LLC now owns 2,313,651 shares of the company’s stock valued at $16,267,000 after acquiring an additional 81,599 shares during the last quarter. Finally, PharVision Advisers LLC lifted its stake in shares of Udemy by 204.4% in the 2nd quarter. PharVision Advisers LLC now owns 43,213 shares of the company’s stock valued at $304,000 after purchasing an additional 29,019 shares during the period. 79.48% of the stock is currently owned by institutional investors and hedge funds.

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.