Why Is Udemy Stock Up 8% Today?

Udemy Inc UDMY shares are trading higher Thursday after the company reported better-than-expected financial results.

Udemy said second-quarter revenue jumped 21% year-over-year to $153.1 million, which beat average analyst estimates of $149.95 million, according to data from Benzinga Pro.

The company reported a quarterly adjusted earnings loss of 10 cents per share, which beat average analyst estimates for a loss of 16 cents per share.

"Udemy is disrupting learning through our unparalleled platform and rapidly scaling SaaS business," said Gregg Coccari, chairman and CEO of Udemy.

Udemy expects third-quarter revenue to be in a range of $153 million to $157 million versus the estimate of $156.04 million. The company expects full-year revenue to be in a range of $615 million to $640 million versus the estimate of $625.01 million.

Check This Out: Benzinga's Best Investing Courses On Udemy

Keybanc analyst Jason Celino maintained Udemy with an Overweight rating and raised the price target from $15 to $16 following the company's results.

Piper Sandler analyst Arvind Ramnani maintained Udemy with a Neutral rating and raised the price target from $11 to $13.

UDMY Price Action: Udemy has a 52-week high of $19.78 and a 52-week low of $9.46.

The stock was up 8.26% at $13.37 at press time, according to Benzinga Pro.

Photo: Steven Weirather from Pixabay.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsPrice TargetSmall CapAnalyst RatingsMoversTrading Ideaswhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!