Analyst Jason Tilchen from Canaccord Genuity maintained a Buy rating on Udemy Inc (UDMY – Research Report) and keeping the price target at $14.00.
Jason Tilchen has given his Buy rating due to a combination of factors including the strategic leadership transition at Udemy. The appointment of Hugo Sarrazin as the new CEO is seen as a positive move, given his extensive experience in scaling SaaS businesses and managing complex transformations, which aligns well with Udemy’s growth ambitions and evolving Enterprise strategy.
Furthermore, Udemy’s reaffirmation of its financial guidance for FY25, despite the transition, underscores confidence in its growth trajectory. The company anticipates robust EBITDA growth over the next few years, which Tilchen views as offering an attractive risk-reward profile at the current valuation. The recent return of co-founder Eren Bali to oversee product and engineering also adds to the optimism about Udemy’s ability to execute its strategic vision effectively.
In another report released yesterday, Needham also maintained a Buy rating on the stock with a $11.00 price target.
UDMY’s price has also changed slightly for the past six months – from $7.870 to $8.030, which is a 2.03% increase.