Needham analyst Ryan MacDonald reiterated a Buy rating on Udemy Inc (UDMY – Research Report) today and set a price target of $11.00.
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Ryan MacDonald’s rating is based on several positive developments surrounding Udemy Inc. The company’s strong performance at the close of FY24, with revenue and adjusted EBITDA surpassing expectations, has shown promising growth momentum. This financial strength is further supported by a solid outlook for FY25, even after accounting for minor foreign exchange challenges.
Additionally, strategic changes within the company, including the appointment of founder Eren Bali as CTO, aim to rejuvenate the consumer segment through product innovation. Although these efforts are in their early stages, they are not anticipated to hinder the company’s progress in expanding EBITDA margins. Udemy remains optimistic about achieving significant adjusted EBITDA growth in the coming years, solidifying a positive outlook for investors.
According to TipRanks, MacDonald is a 5-star analyst with an average return of 9.8% and a 50.40% success rate. MacDonald covers the Technology sector, focusing on stocks such as Yext, Zeta Global Holdings Corp, and Coursera.