Posted by admin on Jul 18th, 2022 
Udemy, Inc. (NASDAQ:UDMY – Get Rating) saw a significant increase in short interest in June. As of June 30th, there was short interest totalling 3,960,000 shares, an increase of 67.8% from the June 15th total of 2,360,000 shares. Currently, 7.4% of the company’s stock are sold short. Based on an average daily volume of 902,400 shares, the days-to-cover ratio is presently 4.4 days.
Shares of NASDAQ:UDMY opened at $11.21 on Monday. Udemy has a 52-week low of $9.47 and a 52-week high of $32.62. The business has a 50-day moving average price of $12.12 and a 200-day moving average price of $12.87.
Udemy (NASDAQ:UDMY – Get Rating) last announced its quarterly earnings data on Wednesday, May 4th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.06. The firm had revenue of $152.20 million during the quarter, compared to analysts’ expectations of $146.63 million. During the same quarter in the previous year, the business earned ($0.21) earnings per share. The company’s revenue for the quarter was up 22.2% compared to the same quarter last year. Analysts forecast that Udemy will post -0.93 EPS for the current year.
Several institutional investors have recently bought and sold shares of the stock. Naspers Ltd. purchased a new position in Udemy during the fourth quarter valued at approximately $334,541,000. Caledonia Private Investments Pty Ltd raised its position in Udemy by 38.2% during the first quarter. Caledonia Private Investments Pty Ltd now owns 3,810,596 shares of the company’s stock valued at $47,480,000 after acquiring an additional 1,053,021 shares in the last quarter. Vanguard Group Inc. raised its position in Udemy by 1.2% during the first quarter. Vanguard Group Inc. now owns 1,256,002 shares of the company’s stock valued at $15,650,000 after acquiring an additional 15,141 shares in the last quarter. Industry Ventures L.L.C. purchased a new position in Udemy during the fourth quarter valued at approximately $16,948,000. Finally, Credit Suisse AG purchased a new position in Udemy during the fourth quarter valued at approximately $11,964,000. 66.69% of the stock is currently owned by hedge funds and other institutional investors.
UDMY has been the topic of a number of recent research reports. Robert W. Baird dropped their price objective on Udemy from $25.00 to $18.00 in a research report on Thursday, May 5th. Needham & Company LLC lowered their price target on Udemy from $25.00 to $17.00 in a report on Thursday, May 5th. KeyCorp lowered their price target on Udemy from $20.00 to $15.00 in a report on Thursday, May 5th. Cantor Fitzgerald started coverage on Udemy in a report on Tuesday, March 29th. They issued an “overweight” rating and a $22.00 price target for the company. Finally, Jefferies Financial Group raised their price target on Udemy from $11.00 to $15.00 in a report on Tuesday, May 31st. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $26.50.
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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.
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