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Udemy, Inc. (NASDAQ:UDMY – Get Rating) saw a large decrease in short interest during the month of July. As of July 15th, there was short interest totalling 3,250,000 shares, a decrease of 17.9% from the June 30th total of 3,960,000 shares. Currently, 6.0% of the shares of the stock are short sold. Based on an average trading volume of 931,800 shares, the short-interest ratio is presently 3.5 days.
Analyst Upgrades and Downgrades
UDMY has been the subject of a number of research reports. KeyCorp dropped their price target on Udemy from $20.00 to $15.00 in a research note on Thursday, May 5th. Robert W. Baird cut their target price on Udemy from $25.00 to $18.00 in a report on Thursday, May 5th. Morgan Stanley cut their target price on Udemy from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 19th. Needham & Company LLC cut their target price on Udemy from $25.00 to $17.00 in a report on Thursday, May 5th. Finally, Jefferies Financial Group lifted their target price on Udemy from $11.00 to $15.00 in a report on Tuesday, May 31st. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $23.92.
Udemy Price Performance
Shares of UDMY opened at $12.04 on Tuesday. The stock has a 50 day moving average price of $12.14 and a two-hundred day moving average price of $12.54. Udemy has a 52 week low of $9.47 and a 52 week high of $32.62.
Udemy (NASDAQ:UDMY – Get Rating) last released its earnings results on Wednesday, May 4th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.06. The business had revenue of $152.20 million during the quarter, compared to the consensus estimate of $146.63 million. During the same period in the prior year, the company earned ($0.21) earnings per share. The business’s revenue was up 22.2% on a year-over-year basis. On average, equities analysts anticipate that Udemy will post -0.93 earnings per share for the current year.
Hedge Funds Weigh In On Udemy
Several hedge funds have recently bought and sold shares of UDMY. Industry Ventures L.L.C. bought a new stake in shares of Udemy in the 4th quarter worth approximately $16,948,000. Dragoneer Investment Group LLC bought a new stake in shares of Udemy in the 4th quarter worth approximately $3,908,000. FNY Investment Advisers LLC bought a new stake in shares of Udemy in the 1st quarter worth approximately $37,000. Davidson Kempner Capital Management LP bought a new stake in shares of Udemy in the 4th quarter worth approximately $1,481,000. Finally, Naspers Ltd. bought a new stake in shares of Udemy in the 4th quarter worth approximately $334,541,000. Hedge funds and other institutional investors own 66.69% of the company’s stock.
Udemy Company Profile
(Get Rating)
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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