Is Udemy, Inc. technically bullish or bearish?

As of 3 October 2025, the technical trend for Udemy, Inc. has changed from mildly bearish to bearish. The current stance is bearish with moderate strength, driven by bearish signals from the daily moving averages and Bollinger Bands, along with mildly bearish readings from the weekly Dow Theory and OBV. The MACD shows mildly bullish signals on both weekly and monthly time frames, but this is overshadowed by the overall bearish trend.
In terms of performance, Udemy has underperformed the S&P 500 across multiple periods, with a year-to-date return of -17.86% compared to the S&P 500's 14.18%, and a 3-year return of -45.96% versus 82.57% for the benchmark.