Coursera (NYSE:COUR) to Buyback $500.00 million in Shares

Coursera (NYSE:COUR) announced that its Board of Directors has approved a stock repurchase plan on Monday, May 18th, RTT News reports. The company plans to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 55.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of research firms have recently commented on COUR. Telsey Advisory Group cut their price objective on Coursera from $14.00 to $10.00 and set an “outperform” rating for the company in a research report on Friday, April 24th. Morgan Stanley set a $7.50 target price on Coursera in a research report on Friday, April 24th. Wall Street Zen cut shares of Coursera from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. Needham & Company LLC reissued a “buy” rating and issued a $10.00 price target on shares of Coursera in a report on Friday, April 24th. Finally, KeyCorp reduced their price objective on shares of Coursera from $12.00 to $10.00 and set an “overweight” rating for the company in a research report on Friday, February 6th. Eight equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $9.50.

Coursera Trading Up 8.6%

NYSE:COUR traded up $0.45 during trading hours on Monday, hitting $5.73. 7,482,583 shares of the stock were exchanged, compared to its average volume of 6,925,275. The firm’s fifty day moving average price is $5.90 and its 200 day moving average price is $6.75. Coursera has a 52-week low of $5.00 and a 52-week high of $13.56. The company has a market cap of $970.77 million, a P/E ratio of -15.09 and a beta of 1.30.

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 firm had revenue of $195.70 million during the quarter, compared to analysts’ expectations of $195.17 million. Coursera had a negative net margin of 8.23% and a negative return on equity of 5.41%. The business’s revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.12 EPS. Equities analysts expect that Coursera will post -0.09 EPS for the current fiscal year.

Insiders Place Their Bets

In other Coursera news, SVP Alan B. Cardenas sold 9,710 shares of the firm’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $5.92, for a total value of $57,483.20. Following the transaction, the senior vice president owned 217,876 shares in the company, valued at approximately $1,289,825.92. This trade represents a 4.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 16.30% of the company’s stock.

Coursera Company Profile

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.