Needham & Company LLC Cuts Coursera (NYSE:COUR) Price Target to $11.00

Coursera (NYSE:COUR) had its price target reduced by Needham & Company LLC from $15.00 to $11.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s target price suggests a potential upside of 59.88% from the stock’s current price.

Other analysts have also recently issued reports about the stock. Bank of America initiated coverage on shares of Coursera in a report on Thursday, September 19th. They set a “buy” rating and a $11.00 target price on the stock. KeyCorp dropped their price objective on shares of Coursera from $14.00 to $12.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. The Goldman Sachs Group cut their price target on Coursera from $10.50 to $9.00 and set a “sell” rating on the stock in a report on Friday, July 26th. Morgan Stanley lowered their price objective on Coursera from $15.00 to $10.00 and set an “overweight” rating for the company in a research note on Friday. Finally, BMO Capital Markets raised their target price on Coursera from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Coursera currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.66.

Coursera Stock Down 9.7 %

Shares of Coursera stock opened at $6.88 on Friday. The business has a 50-day moving average price of $7.80 and a 200 day moving average price of $8.26. Coursera has a fifty-two week low of $6.29 and a fifty-two week high of $21.26. The firm has a market cap of $1.07 billion, a P/E ratio of -9.97 and a beta of 1.42.

Coursera (NYSE:COUR) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.08. The business had revenue of $170.30 million during the quarter, compared to the consensus estimate of $164.67 million. Coursera had a negative return on equity of 13.92% and a negative net margin of 14.35%. The business’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the business earned ($0.20) EPS. As a group, equities research analysts anticipate that Coursera will post -0.44 earnings per share for the current year.

Insider Buying and Selling

In other Coursera news, Director Andrew Y. Ng sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $8.40, for a total transaction of $210,000.00. Following the transaction, the director now owns 7,203,892 shares of the company’s stock, valued at approximately $60,512,692.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Andrew Y. Ng sold 25,000 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $8.40, for a total value of $210,000.00. Following the completion of the transaction, the director now directly owns 7,203,892 shares in the company, valued at $60,512,692.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Andrew Y. Ng sold 6,221 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $8.03, for a total value of $49,954.63. Following the sale, the director now directly owns 7,297,671 shares in the company, valued at approximately $58,600,298.13. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 39,068 shares of company stock valued at $324,787 over the last 90 days. 16.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Assenagon Asset Management S.A. bought a new position in shares of Coursera during the 2nd quarter valued at about $9,525,000. Millennium Management LLC grew its position in Coursera by 67.0% in the second quarter. Millennium Management LLC now owns 2,800,912 shares of the company’s stock worth $20,055,000 after buying an additional 1,123,397 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in Coursera by 158.6% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,653,704 shares of the company’s stock worth $23,185,000 after buying an additional 1,014,316 shares during the last quarter. M&G Plc bought a new position in shares of Coursera in the second quarter valued at $5,048,000. Finally, Vanguard Group Inc. lifted its position in shares of Coursera by 5.1% during the 4th quarter. Vanguard Group Inc. now owns 11,151,684 shares of the company’s stock valued at $216,008,000 after acquiring an additional 536,890 shares during the last quarter. 89.55% of the stock is owned by institutional investors and hedge funds.

Coursera Company Profile

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.