Coursera (NYSE:COUR) Price Target Lowered to $7.00 at Bank of America

Key Points

• Bank of America lowered its price target on Coursera from $8.00 to $7.00 and kept a neutral rating, implying about 23.78% upside from the previous close.
• Other analysts remain mixed: Needham reiterated a buy rating with a $10 target, while RBC and BMO also set $7 targets. Overall, Coursera’s consensus rating is Hold with a consensus price target of $9.12.
• Coursera shares traded around $5.66, near their 50-day average and well below the 52-week high of $13.56. The company also reported Q1 EPS of $0.07, missing estimates by a penny, though revenue rose 9.1% year over year.

Coursera (NYSE:COUR - Get Free Report) had its price target dropped by equities research analysts at Bank of America from $8.00 to $7.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Bank of America's price objective indicates a potential upside of 23.78% from the stock's previous close.

A number of other research firms also recently issued reports on COUR. Needham & Company LLC restated a "buy" rating and issued a $10.00 price target on shares of Coursera in a research note on Wednesday, June 24th. Weiss Ratings downgraded Coursera from a "sell (d-)" rating to a "sell (e+)" rating in a report on Thursday, May 21st. Morgan Stanley set a $7.50 target price on Coursera in a research report on Friday, April 24th. Royal Bank Of Canada restated an "outperform" rating and set a $7.00 price target on shares of Coursera in a research note on Wednesday, June 24th. Finally, BMO Capital Markets reduced their price target on shares of Coursera from $8.00 to $7.00 and set an "outperform" rating for the company in a research report on Monday, April 27th. Eight equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $9.12.

Coursera Stock Performance

Shares of COUR stock traded down $0.03 during trading hours on Tuesday, reaching $5.66. The company had a trading volume of 2,727,921 shares, compared to its average volume of 5,924,118. The business has a fifty day moving average price of $5.61 and a 200-day moving average price of $6.16. Coursera has a one year low of $5.00 and a one year high of $13.56. The firm has a market cap of $957.58 million, a PE ratio of -14.85, a price-to-earnings-growth ratio of 3.46 and a beta of 1.25.

Coursera (NYSE:COUR - Get Free Report) last issued its earnings results on Thursday, April 23rd. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.01). Coursera had a negative return on equity of 5.41% and a negative net margin of 8.23%.The company had revenue of $195.70 million during the quarter, compared to analysts' expectations of $195.17 million. During the same quarter in the prior year, the business posted $0.12 EPS. The company's revenue for the quarter was up 9.1% compared to the same quarter last year. Equities research analysts forecast that Coursera will post 0.11 EPS for the current year.

Coursera declared that its Board of Directors has approved a share buyback program on Monday, May 18th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 55.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's board believes its shares are undervalued.

Insider Buying and Selling at Coursera

In other news, major shareholder Insight Holdings Group, Llc sold 1,466,372 shares of the firm's stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $5.24, for a total value of $7,683,789.28. Following the transaction, the insider owned 419,784 shares of the company's stock, valued at $2,199,668.16. This trade represents a 77.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Alan B. Cardenas sold 9,139 shares of Coursera stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $5.52, for a total value of $50,447.28. Following the transaction, the senior vice president directly owned 255,934 shares in the company, valued at approximately $1,412,755.68. The trade was a 3.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 2,009,139 shares of company stock worth $10,643,180 over the last quarter. 16.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Coursera

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its holdings in shares of Coursera by 1.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 70,852 shares of the company's stock worth $621,000 after acquiring an additional 1,027 shares during the last quarter. Edgestream Partners L.P. grew its holdings in Coursera by 5.1% during the 1st quarter. Edgestream Partners L.P. now owns 50,568 shares of the company's stock valued at $294,000 after purchasing an additional 2,435 shares during the last quarter. ProShare Advisors LLC grew its holdings in Coursera by 10.3% during the 4th quarter. ProShare Advisors LLC now owns 26,096 shares of the company's stock valued at $192,000 after purchasing an additional 2,439 shares during the last quarter. Diversified Trust Co. raised its position in Coursera by 19.0% in the 4th quarter. Diversified Trust Co. now owns 17,691 shares of the company's stock worth $130,000 after purchasing an additional 2,824 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Coursera by 2.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 104,795 shares of the company's stock worth $698,000 after purchasing an additional 2,847 shares during the period. Institutional investors own 89.55% of the company's stock.

About Coursera

Coursera, Inc NYSE: COUR operates a leading online learning platform that delivers courses, specializations, professional certificates and fully accredited degree programs in collaboration with top universities and industry partners. Founded in 2012 by Stanford University professors Andrew Ng and Daphne Koller, Coursera's mission is to provide universal access to world-class education and bridge skill gaps in a rapidly evolving job market.

The platform features more than 6,000 offerings created by over 275 academic institutions and corporate entities, spanning fields such as data science, business, technology, health care and the arts.

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