Udemy (UDMY) to Release Earnings on Wednesday

Udemy (NASDAQ:UDMYGet Rating) is set to post its quarterly earnings results after the market closes on Wednesday, August 3rd. Analysts expect Udemy to post earnings of ($0.18) per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Udemy (NASDAQ:UDMYGet Rating) last announced its quarterly earnings data on Wednesday, May 4th. The company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.06. The business had revenue of $152.20 million during the quarter, compared to analysts’ expectations of $146.63 million. During the same period in the prior year, the firm posted ($0.21) EPS. Udemy’s revenue for the quarter was up 22.2% compared to the same quarter last year. On average, analysts expect Udemy to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Udemy Stock Down 0.2 %

Shares of UDMY opened at $11.95 on Monday. Udemy has a twelve month low of $9.47 and a twelve month high of $32.62. The stock’s 50 day moving average is $12.15 and its two-hundred day moving average is $12.57.

Analyst Ratings Changes

A number of equities research analysts have weighed in on UDMY shares. Piper Sandler lowered Udemy from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $13.00 to $11.00 in a report on Monday, July 18th. Robert W. Baird lowered their price objective on Udemy from $25.00 to $18.00 in a report on Thursday, May 5th. Jefferies Financial Group lifted their price objective on Udemy from $11.00 to $15.00 in a report on Tuesday, May 31st. Needham & Company LLC reduced their price target on shares of Udemy from $25.00 to $17.00 in a research report on Thursday, May 5th. Finally, KeyCorp reduced their price target on shares of Udemy from $20.00 to $15.00 in a research report on Thursday, May 5th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $23.92.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Udemy by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 1,256,002 shares of the company’s stock worth $15,650,000 after purchasing an additional 15,141 shares during the last quarter. State Street Corp raised its holdings in Udemy by 49.0% in the 1st quarter. State Street Corp now owns 251,661 shares of the company’s stock valued at $3,136,000 after acquiring an additional 82,779 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Udemy by 3.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 106,912 shares of the company’s stock valued at $1,333,000 after acquiring an additional 3,455 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Udemy by 46.3% in the 1st quarter. Bank of New York Mellon Corp now owns 74,335 shares of the company’s stock valued at $926,000 after acquiring an additional 23,527 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Udemy by 107.3% in the 1st quarter. Renaissance Technologies LLC now owns 39,600 shares of the company’s stock valued at $493,000 after acquiring an additional 20,500 shares during the last quarter. 66.69% of the stock is currently owned by institutional investors and hedge funds.

About Udemy

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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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