Coursera price target lowered to $20 from $24 at KeyBanc

KeyBanc lowered the firm’s price target on Coursera to $20 from $24 and keeps an Overweight rating on the shares following quarterly results. The firm sees the name as well positioned to be a dominant player in enterprise skilling and online degrees markets with its branded content, content synergies, and cost leadership in the long-term. KeyBanc also sees growth returning to 20%-plus in the MT as the selling environment improves in Enterprise, execution upon Degrees, and continue durable growth in Consumer, along with continued margin expansion. In the near-term, the firm believes 2024 revenue guidance could be conservative and sees second half of the year acceleration upside, especially in Enterprise, as macro recovers.