Why Are Coursera Shares Surging Today?

Author: Vaishali Prayag | July 26, 2024 03:27pm

Coursera, Inc. (NYSE:COUR) shares are moving higher on Friday after the company reported better-than-expected second-quarter earnings results.

What’s Going On: Coursera reported quarterly earnings of 9 cents per share, significantly surpassing the analyst consensus estimate of 1. The company posted quarterly sales of $170.34 million, exceeding the analyst consensus estimate of $164.41 million.

Additionally, Coursera surpassed 2 million enrollments in its generative AI catalog and launched a record number of entry-level Professional Certificates from industry leaders like Google Cloud, IBM Corp. (NYSE:IBM), Meta Platforms and Microsoft Corp (NASDAQ:MSFT).

Analyst Ratings:

• Needham analyst Ryan MacDonald reiterated a Buy rating and maintained a $15 price target.
• Telsey Advisory Group analyst Sarang Vora maintained an Outperform rating and a $18 price target.
• RBC Capital analyst Rishi Jaluria reiterated an Outperform rating and maintained an $18 price target.
• Goldman Sachs analyst Eric Sheridan maintained a Sell rating and lowered the price target from $10.5 to $9.
• BMO Capital analyst Jeffrey Silber maintained an Outperform rating and raised the price target from $10 to $11.
• Cantor Fitzgerald analyst Brett Knoblauch maintained an Overweight rating and raised the price target from $21 to $22.

COUR Price Action: Coursera shares have climbed by 46.3% to $10.84 according to Benzinga Pro.

See Also:

• Disney, AMC, And IMAX Stocks Surge After “Deadpool & Wolverine” Breaks Box Office Records

Photo generated using Dall-E.

Posted In: COUR IBM MSFT