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Coursera
(NYSE:COUR)
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Rating:63Neutral
Price Target:
$5.00
â–¼(-18.17% Downside)
Action:Reiterated
Date:09/21/26
Overall score reflects improving fundamentals and a strong earnings-call setup (raised guidance, expanding adjusted EBITDA targets, synergy progress, and a debt-free, cash-rich balance sheet). These positives are tempered by still-negative profitability on a TTM basis and weak technicals (below key moving averages with negative MACD), with valuation also constrained by a negative P/E and no dividend support.
Positive Factors
Recurring revenue and subscriber scale
A growing subscriber base and recurring revenue mix improve visibility and reduce reliance on one-time purchases. More than 85% recurring revenue across Consumer and Enterprise can support durable retention, predictable monetization, and more efficient investment in the platform.
Negative Factors
Normalized revenue weakness
Reported growth is heavily influenced by the Udemy combination, while normalized revenue trends show limited underlying momentum. Continued weakness in Consumer demand, especially transactional offerings, could constrain organic growth and make the raised outlook more dependent on integration benefits.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring revenue and subscriber scale
A growing subscriber base and recurring revenue mix improve visibility and reduce reliance on one-time purchases. More than 85% recurring revenue across Consumer and Enterprise can support durable retention, predictable monetization, and more efficient investment in the platform.
Read all positive factors
Coursera (COUR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.34B
Dividend YieldN/A
Average Volume (3M)4.88M
Price to Earnings (P/E)―
Beta (1Y)1.35
Revenue Growth22.69%
EPS Growth-112.56%
CountryUS
Employees1,307
SectorConsumer Defensive
Sector Strength42
IndustryEducation & Training Services
Share Statistics
EPS (TTM)-0.71
Shares Outstanding264,400,000
10 Day Avg. Volume6,373,249
30 Day Avg. Volume4,880,291
Financial Highlights & Ratios
PEG Ratio0.61
Price to Book (P/B)1.90
Price to Sales (P/S)1.59
P/FCF Ratio11.25
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$8.08Price Target Upside32.30% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering8
EPS Forecast (FY)0.63
Revenue Forecast (FY)$1.24B
Coursera Business Overview & Revenue Model
Company Description
Coursera, Inc. operates an online learning platform that provides education and skills training in the United States, Europe, the Middle East, Africa, the Asia Pacific, and internationally. It operates through Consumer and Enterprise segments. The...
How the Company Makes Money
Coursera primarily generates revenue by selling access to learning content and credential programs across three main segments: (1) Consumer: Individuals pay for subscriptions (e.g., platform access that includes eligible courses) and/or one-time p...
Coursera Earnings Call Summary
Earnings Call Date:Jul 29, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 22, 2026
Earnings Call Sentiment Positive
The call emphasized meaningful early benefits from the Coursera–Udemy combination: strong reported revenue growth (driven by the acquisition), significant margin expansion, accelerating synergy realization, rapid subscriber growth, a solid cash position and an explicit AI strategy (including a $100M LearnVector investment). Counterbalancing these positives are normalized revenue softness, pressure in transactional consumer offerings, a modest decline in enterprise NRR amid L&D budget headwinds, and notable one-time integration costs that depressed near-term free cash flow. Management framed results as proof points that the combined company is improving profitability and positioned to accelerate product innovation; the positives around profitability, synergies and platform strategy materially outweigh the operational and timing headwinds discussed.Positive Updates
Combined-company Revenue and Outlook
Reported Q2 revenue of $299 million, up 60% year-over-year (as-reported) following the May 11 Udemy close; normalized Q2 revenue declined 1% year-over-year. Full-year 2026 reported revenue guidance raised and narrowed to $1.22 billion–$1.245 billion.
Negative Updates
Normalized Revenue Weakness
On a normalized basis (including Udemy pre-close), Q2 revenue fell ~1% year-over-year; Consumer segment normalized revenue declined ~5% year-over-year, reflecting pressure in transactional offerings.
Read all updates
Q2-2026 Updates
Positive
Negative
Combined-company Revenue and Outlook
Reported Q2 revenue of $299 million, up 60% year-over-year (as-reported) following the May 11 Udemy close; normalized Q2 revenue declined 1% year-over-year. Full-year 2026 reported revenue guidance raised and narrowed to $1.22 billion–$1.245 billion.
Read all positive updates
Company Guidance
Coursera provided Q3 guidance of $364–372 million revenue and $52–56 million adjusted EBITDA, and raised full‑year 2026 reported revenue guidance to $1.22–1.245 billion with a targeted full‑year adjusted EBITDA margin of ~14% (up 100 bps from June) and an exit‑Q4 adjusted EBITDA margin above 16%; the company also expects at least $85 million of annual run‑rate net synergies by year‑end (up from $80M in June) and remains on track toward a larger $150 million synergy goal. Management cited Q2 as the baseline: $299M revenue (up 60% YoY as reported, -1% normalized), $186M gross profit and 62% gross margin (+620 bps reported, ~200 bps normalized), $43M adjusted EBITDA (14.3% of revenue), $40M net income (13.5% of revenue), Enterprise revenue of $140M (118% reported, +3% normalized) with 12,107 enterprise customers and 91% NRR, Consumer revenue of $159M (up 29% reported, -5% normalized) with >1.65M paid subscribers (+44% YoY) and ~ $122M consumer subscription revenue (>75% of consumer segment), nearly 300M registered learners and >12,000 enterprise customers across the combined business, nearly 10,000 GenAI courses with enrollments >45/min in 2026 (vs 25/min last year), $982M cash and no debt, Q2 free cash flow use of $33M (including ~$39M merger/integration cash costs and ~$18M other merger payments; ex those FCF ~+$25M), ~$140M of share repurchases to date under a $500M authorization (≈$90M repurchased through June at an average $5.45), and a $100M strategic investment in LearnVector (≈one‑third ownership, accounted for as an investment, not consolidated).Coursera Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
78
Positive
Cash Flow
62
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 885.40M | 757.50M | 694.67M | 635.76M | 523.76M | 415.29M |
| Gross Profit | 494.80M | 413.40M | 371.41M | 329.77M | 331.48M | 249.47M |
| EBITDA | -128.30M | -17.10M | -79.19M | -129.13M | -148.73M | -128.33M |
| Net Income | -136.30M | -51.00M | -79.53M | -116.55M | -175.36M | -145.22M |
Balance Sheet | ||||||
| Total Assets | 1.95B | 1.00B | 930.27M | 920.53M | 947.60M | 958.91M |
| Cash, Cash Equivalents and Short-Term Investments | 982.20M | 792.60M | 727.70M | 722.07M | 780.96M | 821.77M |
| Total Debt | 9.70M | 5.00M | 3.06M | 6.60M | 14.45M | 19.89M |
| Total Liabilities | 780.80M | 364.30M | 332.85M | 304.34M | 253.02M | 217.40M |
| Stockholders Equity | 1.17B | 635.70M | 597.42M | 616.19M | 694.58M | 741.51M |
Cash Flow | ||||||
| Free Cash Flow | 28.60M | 107.20M | 93.78M | 13.24M | -51.93M | -11.90M |
| Operating Cash Flow | 34.50M | 108.70M | 95.36M | 29.64M | -38.05M | 1.75M |
| Investing Cash Flow | 173.40M | -30.20M | 29.90M | 384.80M | -234.02M | -51.61M |
| Financing Cash Flow | -109.40M | -13.50M | -54.94M | -79.23M | 12.23M | 550.16M |
Coursera Technical Analysis
Negative
6.11
Price Trends
5.62
Negative
5.59
Negative
5.99
Negative
Market Momentum
-0.24
Positive
28.01
Positive
14.37
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For COUR, the sentiment is Negative. The current price of 6.11 is above the 20-day moving average (MA) of 5.41, above the 50-day MA of 5.62, and above the 200-day MA of 5.99, indicating a bearish trend. The MACD of -0.24 indicates Positive momentum. The RSI at 28.01 is Positive, neither overbought nor oversold. The STOCH value of 14.37 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for COUR.
Coursera Risk Analysis
Coursera disclosed 85 risk factors in its most recent earnings report. Coursera reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Coursera Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% |
* Consumer Defensive Sector Average
Performance Comparison
Coursera Corporate Events
Business Operations and StrategyExecutive/Board ChangesM&A TransactionsRegulatory Filings and Compliance
Coursera Announces New Chief Legal Officer Appointment
Positive
Sep 21, 2026
Coursera, the global online learning platform, announced a planned legal leadership transition on September 21, 2026, with veteran technology sector lawyer Tom Savage joining as Chief Legal Officer and Corporate Secretary. Savage, formerly a senio...
Business Operations and StrategyStock BuybackFinancial DisclosuresM&A TransactionsPrivate Placements and Financing
Coursera Invests in AI Learning Firm LearnVector
Positive
Jul 29, 2026
On July 28, 2026, Coursera announced a $100 million equity investment for a 33.33% fully diluted stake in LearnVector Inc., an AI-native learning company founded by Coursera chairman Andrew Ng. To address the related-party nature of the deal, Cour...
Business Operations and StrategyM&A Transactions
Coursera launches post-merger workforce realignment initiative
Negative
Jul 6, 2026
On May 11, 2026, Coursera, Inc. completed its merger with Udemy, Inc., making Udemy a wholly owned subsidiary as part of a broader strategy to consolidate and streamline its online learning operations. In connection with this integration, the comp...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.