Udemy (NASDAQ:UDMY) Posts Earnings Results

Udemy (NASDAQ:UDMY) issued its quarterly earnings results on Thursday. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02, FiscalAI reports. Udemy had a positive return on equity of 2.11% and a negative net margin of 0.47%.The firm had revenue of $193.99 million for the quarter, compared to analysts’ expectations of $193.40 million. During the same period in the previous year, the firm posted $0.10 EPS. The business’s revenue for the quarter was down 3.0% compared to the same quarter last year.

Udemy Trading Up 1.8%

Shares of UDMY opened at $4.78 on Friday. The firm has a fifty day simple moving average of $5.37 and a two-hundred day simple moving average of $6.15. The firm has a market cap of $698.96 million, a PE ratio of -160.65 and a beta of 1.72. Udemy has a 1-year low of $4.52 and a 1-year high of $10.61.

Insider Activity at Udemy

In related news, CFO Sarah Blanchard sold 25,000 shares of the company’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $5.25, for a total transaction of $131,250.00. Following the completion of the sale, the chief financial officer owned 1,208,046 shares in the company, valued at approximately $6,342,241.50. This represents a 2.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Udemy

Large investors have recently made changes to their positions in the company. Focus Partners Wealth grew its position in Udemy by 1.9% during the first quarter. Focus Partners Wealth now owns 79,437 shares of the company’s stock valued at $616,000 after buying an additional 1,468 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Udemy by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,071 shares of the company’s stock valued at $420,000 after purchasing an additional 2,399 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Udemy by 5.4% during the second quarter. The Manufacturers Life Insurance Company now owns 50,299 shares of the company’s stock valued at $354,000 after purchasing an additional 2,597 shares during the period. Ameriprise Financial Inc. lifted its position in shares of Udemy by 8.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 66,229 shares of the company’s stock valued at $466,000 after buying an additional 5,395 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in Udemy by 7.9% during the second quarter. Legal & General Group Plc now owns 91,730 shares of the company’s stock valued at $645,000 after purchasing an additional 6,716 shares in the last quarter. 79.48% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on UDMY shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Udemy in a report on Wednesday, January 21st. Zacks Research cut shares of Udemy from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 28th. KeyCorp downgraded shares of Udemy from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, January 13th. Wall Street Zen upgraded shares of Udemy from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 7th. Finally, Canaccord Genuity Group cut Udemy from a “buy” rating to a “hold” rating and lowered their price objective for the company from $12.00 to $7.00 in a research report on Wednesday, December 17th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently 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.