Analyst Ryan MacDonald from Needham reiterated a Buy rating on Udemy Inc (UDMY – Research Report) and keeping the price target at $11.00.
Ryan MacDonald has given his Buy rating due to a combination of factors including the strategic leadership transition at Udemy Inc. The appointment of Hugo Sarrazin as the new CEO, with his extensive experience in global product and technology roles, is seen as a positive step for the company’s future growth. The planned nature of this leadership change suggests a smooth transition, which is further supported by the outgoing CEO Greg Brown’s continued involvement as an advisor until the end of the year.
Additionally, the reaffirmation of the company’s guidance underlines a stable outlook, reinforcing confidence in Udemy’s ability to scale effectively under new leadership. These elements collectively contribute to the Buy rating, with a maintained price target of $11, reflecting optimism about the company’s strategic direction and potential for growth.