Coursera hits over 5-month high on FY revenue forecast raise

Coursera

28/07/2023 19:06

** Shares of e-learning platform Coursera  COUR.N  rise as
much as nearly 18% to $15.31, hitting near 5-1/2 month high 
    ** Stock last up 15.1%, on course for best day since April
28 if current levels hold 
    ** Company raised annual revenue forecast on Thursday,
banking on strong demand for entry-level professional
certificates
    ** COUR sees 2023 revenue in the range of $617 mln to $623
mln vs. previous forecast of $600 mln to $610 mln
    ** Company also beat Q2 estimates for revenue, while posting
narrower quarterly loss of $31.7 mln, or 21 cents/share vs $49.3
mln, or 34 cents/per share, a year ago
    ** As many as 4 brokerages have raised their PTs on stock
after results
    ** "COUR shares deserve some relief given the continued
solid execution," UBS says 
    ** Consumer segment looks quite resilient even as company's
enterprise segment decelerates - Raymond James 
    ** Including session moves, shares are up 26.1% YTD

 (Reporting by Granth Vanaik in Bengaluru)
 ((Granth.Vanaik@thomsonreuters.com; Twitter: https://twitter.com/Vanaik_Granth;))