UPDATE: Citi Starts Udemy Inc (UDMY) at Buy

November 23, 2021 3:35 AM EST
Get Alerts UDMY Hot Sheet
Price: $27.48 +1.10%

Rating Summary:
    8 Buy, 3 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 9 | Down: 11 | New: 61
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(Updated - November 23, 2021 5:40 AM EST)

Citi initiates coverage on Udemy Inc (NASDAQ: UDMY) with a Buy rating and a price target of $45.00.

The analyst comments "UDMY is a leading provider of content for professional learning, catering to 44mn learners across 180 countries. The work we did in the recent Citi GPS report on corporate L&D underpins our conviction that professional elearning is a structural growth market, in which UDMY occupies a unique position given its marketplace model. Against a financial profile (23% FY20-25 revenue CAGR, 55%-60% Gross margin between FY21-25, and adj. EBITDA breakeven by FY25) that is markedly similar to COUR, UDMY’s 22% valuation discount appears completely anomalous to us. We initiate on UDMY with a Buy rating and a $45 target price offering 44% upside from current price levels."

For an analyst ratings summary and ratings history on Udemy Inc click here. For more ratings news on Udemy Inc click here.

Shares of Udemy Inc closed at $29.29 yesterday.


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