Coursera shares are trading lower after the company issued Q4 revenue guidance below estimates and cut its FY24 revenue guidance. Also, Morgan Stanley and Needham lowered their respective price targets on the stock.
Portfolio Pulse from Benzinga Newsdesk
Coursera's shares are declining as the company issued Q4 revenue guidance below estimates and reduced its FY24 revenue guidance. Additionally, Morgan Stanley and Needham have lowered their price targets for the stock.
October 25, 2024 | 12:04 pm
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NEGATIVE IMPACT
Coursera's stock is under pressure due to lower-than-expected Q4 revenue guidance and a cut in FY24 revenue guidance. This has led to Morgan Stanley and Needham reducing their price targets for the company.
The reduction in revenue guidance for both Q4 and FY24 indicates potential challenges in Coursera's business outlook, which is likely to negatively impact investor sentiment. The lowered price targets by major analysts further reinforce the negative outlook, suggesting a short-term decline in stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100