Coursera (NYSE:COUR) Given New $11.00 Price Target at Scotiabank

Key Points

• Scotiabank has raised Coursera's price target from $9.00 to $11.00, indicating a potential downside of 10.72% from the company's previous close while maintaining a "sector perform" rating.
• Coursera's current market cap is $1.99 billion, with its stock trading between a 12-month low of $5.76 and a high of $12.40.
• In its latest quarterly earnings, Coursera reported $0.12 earnings per share and revenue of $187.10 million, surpassing analyst expectations.
• Insider trading activity showed that directors sold shares recently, with a report indicating a total of 24,770 shares worth $211,087 sold in the last 90 days.

Coursera (NYSE:COUR - Get Free Report) had its price objective hoisted by equities researchers at Scotiabank from $9.00 to $11.00 in a report released on Friday,Benzinga reports. The firm presently has a "sector perform" rating on the stock. Scotiabank's price objective would indicate a potential downside of 10.72% from the company's previous close.

COUR has been the subject of several other research reports. Wall Street Zen downgraded shares of Coursera from a "buy" rating to a "hold" rating in a report on Friday, July 18th. UBS Group upped their price target on shares of Coursera from $8.50 to $10.00 and gave the company a "neutral" rating in a report on Friday. KeyCorp upped their price target on shares of Coursera from $11.00 to $12.00 and gave the company an "overweight" rating in a report on Friday. Telsey Advisory Group restated an "outperform" rating and set a $12.00 price objective on shares of Coursera in a report on Monday. Finally, Needham & Company LLC restated a "buy" rating and set a $11.00 price objective on shares of Coursera in a report on Monday. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Coursera currently has a consensus rating of "Hold" and a consensus target price of $10.94.

Coursera Stock Performance

Shares of Coursera stock traded up $3.24 during trading on Friday, hitting $12.32. 20,225,613 shares of the stock were exchanged, compared to its average volume of 1,971,772. The stock's fifty day moving average is $8.65 and its 200 day moving average is $8.11. The stock has a market cap of $1.99 billion, a PE ratio of -28.64 and a beta of 1.36. Coursera has a 12 month low of $5.76 and a 12 month high of $12.40.

Coursera (NYSE:COUR - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.03. The business had revenue of $187.10 million during the quarter, compared to the consensus estimate of $180.52 million. Coursera had a negative net margin of 9.37% and a negative return on equity of 7.22%. The company's quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.09 earnings per share. Sell-side analysts anticipate that Coursera will post -0.28 EPS for the current fiscal year.

Insider Activity

In related news, Director Amanda Clark sold 9,334 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $8.48, for a total value of $79,152.32. Following the transaction, the director owned 85,573 shares in the company, valued at approximately $725,659.04. This represents a 9.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Sabrina Simmons sold 9,335 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $8.48, for a total value of $79,160.80. Following the completion of the transaction, the director owned 50,215 shares in the company, valued at $425,823.20. This represents a 15.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,770 shares of company stock worth $211,087 in the last 90 days. Company insiders own 16.80% of the company's stock.

Hedge Funds Weigh In On Coursera

Hedge funds have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Coursera during the fourth quarter worth approximately $17,010,000. Nuveen LLC bought a new stake in Coursera during the first quarter worth approximately $7,764,000. Two Sigma Investments LP bought a new stake in Coursera during the fourth quarter worth approximately $8,710,000. Ameriprise Financial Inc. boosted its position in Coursera by 253.1% during the fourth quarter. Ameriprise Financial Inc. now owns 1,424,354 shares of the company's stock worth $12,107,000 after purchasing an additional 1,020,969 shares during the period. Finally, BNP Paribas Financial Markets bought a new stake in Coursera during the fourth quarter worth approximately $6,612,000. Institutional investors and hedge funds own 89.55% of the company's stock.

About Coursera

Coursera, Inc operates an online educational content platform in the United States, Europe, Africa, the Asia Pacific, the Middle East, and internationally. It operates in three segments: Consumer, Enterprise, and Degrees. The company offers guided projects, courses, and specializations, as well as online degrees; and certificates for entry-level professional, non-entry level professional, university, and MasterTrack.

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