Analyst Optimistic About Coursera's Resilient Enterprise Segment Amid Economic Pressure

Needham analyst Ryan MacDonald reiterated a Buy rating on the shares of Coursera Inc COUR with a price target of $19.

According to the analyst, Coursera reported a stronger-than-expected 2Q23, with revenue growing 23.2% y/y.

Coursera added 5.7 million registered learners in 2Q23 and ended the quarter with 129 million on the platform for its 11th consecutive quarter with at least 5 million registered learners added.

In the analyst's view, the enterprise segment remained resilient despite a difficult enterprise spending environment.

According to the analyst, Consumer and Degrees continue to be the story of FY23, with continued adoption of credentials underscoring the durability of Consumer, while Degrees growth accelerated to double-digits after returning to growth in 1Q23.

The analyst noted that despite continued macro pressures on Enterprise, strength in COUR's other segments prompted management to raise both FY23 revenue and adjusted EBITDA guidance.

The analyst believes COUR is making prudent decisions given the environment, with the

outlook remaining conservative.

Price Action: COUR shares are trading higher by 14.4% at $14.89 on the last check Friday.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorEquitiesNewsPrice TargetReiterationMarketsAnalyst RatingsTrading IdeasGeneralBriefsExpert Ideas
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!