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

Coursera (NYSE:COUR) had its target price lowered by investment 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 currently has a “neutral” rating on the stock. Bank of America‘s price objective would suggest a potential upside of 23.78% from the stock’s previous close.

A number of other brokerages have also weighed in on COUR. Wall Street Zen lowered shares of Coursera from a “buy” rating to a “hold” rating in a report on Saturday, April 25th. Weiss Ratings lowered shares of Coursera from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, May 21st. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $7.00 price target on shares of Coursera in a research note on Wednesday, June 24th. Morgan Stanley set a $7.50 price target on Coursera in a report on Friday, April 24th. Finally, BMO Capital Markets dropped their price objective on Coursera from $8.00 to $7.00 and set an “outperform” rating on the stock in a research note on Monday, April 27th. Eight research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Coursera has an average rating of “Hold” and a consensus price target of $9.12.

Coursera Stock Performance

Coursera stock traded down $0.03 during mid-day trading on Tuesday, hitting $5.66. The company’s stock had a trading volume of 2,727,921 shares, compared to its average volume of 5,924,118. The company has a 50 day moving average of $5.61 and a 200-day moving average of $6.16. Coursera has a one year low of $5.00 and a one year high of $13.56. The stock has a market cap of $957.58 million, a PE ratio of -14.85, a P/E/G ratio of 3.46 and a beta of 1.25.

Coursera (NYSE:COUR) last released its earnings results on Thursday, April 23rd. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.01). The business had revenue of $195.70 million for the quarter, compared to the consensus estimate of $195.17 million. Coursera had a negative return on equity of 5.41% and a negative net margin of 8.23%.The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.12 earnings per share. On average, equities research analysts forecast that Coursera will post 0.11 EPS for the current fiscal year.

Coursera declared that its board has approved a share repurchase plan on Monday, May 18th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to buy up to 55.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Insider Activity at Coursera

In related news, SVP Alan B. Cardenas sold 9,139 shares of Coursera stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $5.52, for a total transaction of $50,447.28. Following the transaction, the senior vice president directly owned 255,934 shares of the company’s stock, valued at $1,412,755.68. This trade represents a 3.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Insight Holdings Group, Llc sold 1,466,372 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $5.24, for a total transaction of $7,683,789.28. Following the completion of the transaction, the insider directly owned 419,784 shares of the company’s stock, valued at $2,199,668.16. This trade represents a 77.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 2,009,139 shares of company stock valued at $10,643,180 in the last ninety days. Corporate insiders own 16.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Aster Capital Management DIFC Ltd bought a new stake in Coursera during the fourth quarter valued at about $25,000. Quarry LP raised its holdings in Coursera by 619.9% in the third quarter. Quarry LP now owns 4,024 shares of the company’s stock worth $47,000 after purchasing an additional 3,465 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its position in shares of Coursera by 224.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,939 shares of the company’s stock valued at $36,000 after buying an additional 3,415 shares during the last quarter. Clearstead Trust LLC purchased a new stake in shares of Coursera during the fourth quarter valued at about $39,000. Finally, Optiver Holding B.V. bought a new stake in shares of Coursera in the 1st quarter valued at about $31,000. 89.55% of the stock is currently owned by hedge funds and other institutional investors.

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.