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Udemy, Inc. (NASDAQ:UDMY) Short Interest Update

Udemy, Inc. (NASDAQ:UDMY – Get Rating) was the target of a large growth in short interest during the month of June. As of June 30th, there was short interest totalling 3,960,000 shares, a growth of 67.8% from the June 15th total of 2,360,000 shares. Approximately 7.4% of the company’s stock are short sold. Based on an average daily trading volume, of 902,400 shares, the days-to-cover ratio is presently 4.4 days.

Institutional Trading of Udemy

Institutional investors and hedge funds have recently modified their holdings of the business. Emerald Advisers LLC purchased a new position in shares of Udemy during the 4th quarter valued at about $4,355,000. Emerald Mutual Fund Advisers Trust purchased a new position in shares of Udemy during the 4th quarter valued at about $2,937,000. New York State Common Retirement Fund purchased a new position in shares of Udemy during the 4th quarter valued at about $49,000. Daiwa Securities Group Inc. purchased a new position in shares of Udemy during the 4th quarter valued at about $25,000. Finally, Northern Trust Corp purchased a new position in shares of Udemy during the 4th quarter valued at about $2,414,000. Hedge funds and other institutional investors own 66.69% of the company’s stock.

Udemy Trading Up 6.1 %

UDMY stock opened at $11.21 on Friday. Udemy has a fifty-two week low of $9.47 and a fifty-two week high of $32.62. The stock has a fifty day moving average of $12.12 and a 200-day moving average of $12.91.

Udemy (NASDAQ:UDMY – Get Rating) last posted its quarterly earnings results on Wednesday, May 4th. The company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.06. The firm had revenue of $152.20 million for the quarter, compared to the consensus estimate of $146.63 million. During the same quarter in the previous year, the company posted ($0.21) EPS. The firm’s revenue was up 22.2% compared to the same quarter last year. Analysts anticipate that Udemy will post -0.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on UDMY shares. Cantor Fitzgerald started coverage on Udemy in a research report on Tuesday, March 29th. They issued an “overweight” rating and a $22.00 price target for the company. Jefferies Financial Group increased their price target on Udemy from $11.00 to $15.00 in a research report on Tuesday, May 31st. Needham & Company LLC lowered their price target on Udemy from $25.00 to $17.00 in a research report on Thursday, May 5th. KeyCorp lowered their price target on Udemy from $20.00 to $15.00 in a research report on Thursday, May 5th. Finally, Robert W. Baird decreased their target price on Udemy from $25.00 to $18.00 in a research report on Thursday, May 5th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $26.50.

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.

Further Reading

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