Coursera (COUR)
Market Price (7/22/2026): $5.365 | Market Cap: $905.1 MilSector: Consumer Discretionary | Industry: Education Services
Coursera (COUR)
Market Price (7/22/2026): $5.365Market Cap: $905.1 MilSector: Consumer DiscretionaryIndustry: Education Services
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -87% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 12% Attractive yieldFCF Yield is 7.6% Megatrend and thematic driversMegatrends include Future of Education & Work. Themes include Online Learning Platforms, Workforce Reskilling & Upskilling, and Lifelong Learning. | Weak multi-year price returns2Y Excs Rtn is -61%, 3Y Excs Rtn is -126% Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 14% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -88 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -11% Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 12% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -11% Key risksCOUR key risks include [1] a critical dependence on its network of university and industry content partners. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -87% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 12% |
| Attractive yieldFCF Yield is 7.6% |
| Megatrend and thematic driversMegatrends include Future of Education & Work. Themes include Online Learning Platforms, Workforce Reskilling & Upskilling, and Lifelong Learning. |
| Weak multi-year price returns2Y Excs Rtn is -61%, 3Y Excs Rtn is -126% |
| Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 14% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -88 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -11% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 12% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -11% |
| Key risksCOUR key risks include [1] a critical dependence on its network of university and industry content partners. |
Qualitative Assessment
AI Analysis | Feedback
Coursera (COUR) stock has lost about 10% since 3/31/2026 because of the following key factors:
1. Coursera reported a miss on adjusted earnings per share (EPS) for fiscal Q1 2026 and provided weaker-than-expected guidance for both fiscal Q2 2026 and the full fiscal year 2026.
For fiscal Q1 2026, which ended March 31, 2026, Coursera announced an EPS of $0.07, missing the consensus estimate of $0.08 by $0.01. Although revenue of $195.70 million slightly exceeded analysts' expectations, the company's Q2 2026 revenue guidance of $196 million to $200 million fell short of Street expectations of $198 million to $200 million. Furthermore, the updated full-year 2026 revenue guidance of $805 million to $815 million was below the prior analyst consensus of $815 million. This disappointing outlook led to Coursera's stock experiencing its worst week in 20 months, dropping 17% after the Q1 earnings announcement. Multiple brokerages, including JPMorgan, subsequently lowered their price targets, with JPMorgan reducing its objective from $10.00 to $8.00.
2. The company continues to face persistent GAAP unprofitability and a negative operating margin, raising concerns about its path to sustained profitability.
Despite reporting 9.1% year-over-year revenue growth in fiscal Q1 2026 to $195.70 million, Coursera remains unprofitable on a GAAP basis. For the full fiscal year 2025, which ended December 31, 2025, the company reported a net loss of -$51.00 million and an EPS of -$0.31. The operating margin for fiscal year 2025 was deeply negative at -10.34%, resulting in an operating loss of -$78.30 million. In fiscal Q1 2026, Coursera also recorded a negative net margin of 8.23%. This ongoing unprofitability and a significant reliance on stock-based compensation, which amounted to $95.10 million in fiscal year 2025, contribute to shareholder dilution and a cautious investor sentiment.
Show more
Coursera (COUR) stock has lost about 10% since 3/31/2026 because of the following key factors:
1. Coursera reported a miss on adjusted earnings per share (EPS) for fiscal Q1 2026 and provided weaker-than-expected guidance for both fiscal Q2 2026 and the full fiscal year 2026.
For fiscal Q1 2026, which ended March 31, 2026, Coursera announced an EPS of $0.07, missing the consensus estimate of $0.08 by $0.01. Although revenue of $195.70 million slightly exceeded analysts' expectations, the company's Q2 2026 revenue guidance of $196 million to $200 million fell short of Street expectations of $198 million to $200 million. Furthermore, the updated full-year 2026 revenue guidance of $805 million to $815 million was below the prior analyst consensus of $815 million. This disappointing outlook led to Coursera's stock experiencing its worst week in 20 months, dropping 17% after the Q1 earnings announcement. Multiple brokerages, including JPMorgan, subsequently lowered their price targets, with JPMorgan reducing its objective from $10.00 to $8.00.
2. The company continues to face persistent GAAP unprofitability and a negative operating margin, raising concerns about its path to sustained profitability.
Despite reporting 9.1% year-over-year revenue growth in fiscal Q1 2026 to $195.70 million, Coursera remains unprofitable on a GAAP basis. For the full fiscal year 2025, which ended December 31, 2025, the company reported a net loss of -$51.00 million and an EPS of -$0.31. The operating margin for fiscal year 2025 was deeply negative at -10.34%, resulting in an operating loss of -$78.30 million. In fiscal Q1 2026, Coursera also recorded a negative net margin of 8.23%. This ongoing unprofitability and a significant reliance on stock-based compensation, which amounted to $95.10 million in fiscal year 2025, contribute to shareholder dilution and a cautious investor sentiment.
3. A substantial amount of insider selling has occurred, signaling a potential lack of confidence from company executives and large shareholders.
In the 90 days leading up to July 16, 2026, insiders at Coursera collectively sold 2,009,139 shares of company stock, totaling approximately $10,643,180. This figure exceeds the $5 million threshold, indicating significant insider divestment during the period. One notable transaction involved Insight Holdings Group, LLC, which sold 935,596 shares at $5.24 per share in May 2026, amounting to roughly $4.9 million in that specific transaction, and over $10 million in aggregate sales over the last 24 months. Such significant selling activity by individuals and entities with intimate knowledge of the company's operations can often be interpreted negatively by the market.
4. The recent all-stock merger with Udemy introduced integration risks and analyst uncertainty regarding future synergies and competitive pressures.
Coursera's all-stock merger with Udemy, approved in April 2026 and closed on May 11, 2026, aimed to create a more comprehensive skills development platform. However, this strategic move brought associated risks. Analysts noted potential challenges in the consumer segment due to pressure from Udemy's transactional business model. Concerns were also raised about potential customer overlap consolidation and the risk of revenue dis-synergies, which could negatively impact Coursera's enterprise segment. Morgan Stanley, for instance, expressed caution and stated there was "no immediate urgency to own" shares as it awaited a clearer post-merger strategy. The company held a supplemental post-merger modeling call on June 23, 2026, to discuss the combined entity's financial profile, underscoring the ongoing focus on integration and future performance.
Show less
Stock Movement Drivers
Fundamental Drivers
The -7.9% change in COUR stock from 3/31/2026 to 7/21/2026 was primarily driven by a -9.2% change in the company's P/S Multiple.| (LTM values as of) | 3312026 | 7212026 | Change |
|---|---|---|---|
| Stock Price ($) | 5.82 | 5.36 | -7.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 758 | 774 | 2.2% |
| P/S Multiple | 1.3 | 1.2 | -9.2% |
| Shares Outstanding (Mil) | 167 | 169 | -0.8% |
| Cumulative Contribution | -7.9% |
Market Drivers
3/31/2026 to 7/21/2026| Return | Correlation | |
|---|---|---|
| COUR | -7.9% | |
| Market (SPY) | 15.1% | -11.7% |
| Sector (XLY) | 5.4% | -3.7% |
Fundamental Drivers
The -27.2% change in COUR stock from 12/31/2025 to 7/21/2026 was primarily driven by a -28.6% change in the company's P/S Multiple.| (LTM values as of) | 12312025 | 7212026 | Change |
|---|---|---|---|
| Stock Price ($) | 7.36 | 5.36 | -27.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 740 | 774 | 4.6% |
| P/S Multiple | 1.6 | 1.2 | -28.6% |
| Shares Outstanding (Mil) | 165 | 169 | -2.4% |
| Cumulative Contribution | -27.2% |
Market Drivers
12/31/2025 to 7/21/2026| Return | Correlation | |
|---|---|---|
| COUR | -27.2% | |
| Market (SPY) | 10.0% | 4.8% |
| Sector (XLY) | -3.6% | 9.7% |
Fundamental Drivers
The -38.8% change in COUR stock from 6/30/2025 to 7/21/2026 was primarily driven by a -41.5% change in the company's P/S Multiple.| (LTM values as of) | 6302025 | 7212026 | Change |
|---|---|---|---|
| Stock Price ($) | 8.76 | 5.36 | -38.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 705 | 774 | 9.8% |
| P/S Multiple | 2.0 | 1.2 | -41.5% |
| Shares Outstanding (Mil) | 161 | 169 | -4.7% |
| Cumulative Contribution | -38.8% |
Market Drivers
6/30/2025 to 7/21/2026| Return | Correlation | |
|---|---|---|
| COUR | -38.8% | |
| Market (SPY) | 22.1% | 10.8% |
| Sector (XLY) | 6.3% | 18.6% |
Fundamental Drivers
The -58.8% change in COUR stock from 6/30/2023 to 7/21/2026 was primarily driven by a -66.8% change in the company's P/S Multiple.| (LTM values as of) | 6302023 | 7212026 | Change |
|---|---|---|---|
| Stock Price ($) | 13.02 | 5.36 | -58.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 551 | 774 | 40.5% |
| P/S Multiple | 3.5 | 1.2 | -66.8% |
| Shares Outstanding (Mil) | 149 | 169 | -11.7% |
| Cumulative Contribution | -58.8% |
Market Drivers
6/30/2023 to 7/21/2026| Return | Correlation | |
|---|---|---|
| COUR | -58.8% | |
| Market (SPY) | 74.8% | 25.6% |
| Sector (XLY) | 38.4% | 29.2% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| COUR Return | -46% | -52% | 64% | -56% | -13% | -26% | -88% |
| Peers Return | -7% | -37% | 1% | 9% | -47% | -2% | -67% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 9% | 98% |
Monthly Win Rates [3] | |||||||
| COUR Win Rate | 30% | 33% | 75% | 25% | 42% | 43% | |
| Peers Win Rate | 42% | 44% | 53% | 50% | 44% | 43% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 43% | |
Max Drawdowns [4] | |||||||
| COUR Max Drawdown | - | -60% | -39% | -69% | -42% | -31% | |
| Peers Max Drawdown | -43% | -59% | -52% | -60% | -74% | -45% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: SKIL, LRN, CHGG.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 7/21/2026 (YTD)
How Low Can It Go
| Event | COUR | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -25.2% | -18.8% |
| % Gain to Breakeven | 33.7% | 23.1% |
| Time to Breakeven | 17 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -32.9% | -6.7% |
| % Gain to Breakeven | 49.1% | 7.1% |
| Time to Breakeven | 94 days | 31 days |
In The Past
Coursera's stock fell -25.2% during the 2025 US Tariff Shock. Such a loss loss requires a 33.7% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
| Event | COUR | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -25.2% | -18.8% |
| % Gain to Breakeven | 33.7% | 23.1% |
| Time to Breakeven | 17 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -32.9% | -6.7% |
| % Gain to Breakeven | 49.1% | 7.1% |
| Time to Breakeven | 94 days | 31 days |
In The Past
Coursera's stock fell -25.2% during the 2025 US Tariff Shock. Such a loss loss requires a 33.7% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Coursera (COUR)
Coursera, Inc. (COUR) operates as a prominent online educational content platform designed to bridge the gap between learners, educators, organizations, and institutions globally. The company's fundamental business is to provide a digital ecosystem that enables access to a vast array of high-quality online learning opportunities.
The company's main products and services encompass a broad spectrum of educational offerings. These include individual online courses covering diverse subjects such as data science, business, computer science, information technology, health, and digital marketing. Beyond standalone courses, Coursera facilitates more comprehensive learning experiences through full degree programs, professional certification education, and specialized campus student plans, often delivered in collaboration with leading universities and industry partners.
Coursera primarily serves a multifaceted customer base. Its platform caters to individual learners worldwide who are looking to acquire new skills, advance their careers, or pursue higher education flexibly. Additionally, the company serves enterprises and organizations seeking to train and upskill their employees, as well as educational institutions aiming to expand their reach and offer online courses and degrees to a global audience.
AI Analysis | Feedback
Here are 1-3 brief analogies to describe Coursera:
- Netflix for online learning and degrees.
- Amazon for professional skills and education.
AI Analysis | Feedback
- Online Courses: A platform offering individual courses in diverse subjects such as data science, business, and computer science.
- Degree Courses: Full online academic degree programs delivered in partnership with universities.
- Certification Education: Programs designed to help learners earn professional certificates in various fields.
- Campus Student Plans: Specific plans providing educational content and tools for students enrolled in traditional campus programs.
AI Analysis | Feedback
Coursera (COUR) primarily sells its services to individual learners, as its Consumer segment consistently represents the largest portion of its revenue. Based on this, the major categories of individual customers Coursera serves are:
- Professional Development & Career Transitioners: These are individuals seeking to acquire new skills, reskill, or upskill to advance their current careers, change professions, or enhance their employability. They often enroll in professional certificates, specializations, or individual courses directly tied to career outcomes.
- Degree-Seeking Students: This category includes learners who enroll in full online bachelor's or master's degree programs that are offered by partner universities through the Coursera platform, aiming to earn an accredited academic qualification.
- Lifelong Learners & Personal Enrichment Seekers: These customers are motivated by personal growth, intellectual curiosity, or a desire to explore new interests. They may take individual courses on various subjects without a specific career or degree objective in mind.
While Coursera also has significant Enterprise and Campus segments that serve businesses, governments, and educational institutions for their training and learning needs, its direct-to-consumer offerings for individuals constitute the primary revenue source.
AI Analysis | Feedback
- Amazon.com, Inc. (AMZN)
- Alphabet Inc. (GOOGL)
- International Business Machines Corporation (IBM)
AI Analysis | Feedback
Greg Hart, CEO & President
Greg Hart joined Coursera as President and CEO in February 2025, bringing over 25 years of leadership experience in technology-driven innovation and operational excellence. Prior to Coursera, he spent 23 years at Amazon, where he served as Technical Advisor to Jeff Bezos and led the development of Amazon Alexa/Echo from its inception. He also oversaw the global expansion of Prime Video. From 2020 to 2023, Hart was a key leader at Compass, where he served as Chief Product Officer and later Chief Operating Officer, and helped the company go public.
Mike Foley, Interim Chief Financial Officer
Mike Foley was appointed interim Chief Financial Officer of Coursera in November 2025. He brings more than two decades of financial and operational leadership experience from technology and media companies. Before joining Coursera, he served as a Strategic Adviser to AI and technology companies at New Enterprise Associates. Foley was also the CFO of Unity Technologies for four years, where he helped scale the company through rapid growth prior to its IPO. His previous roles include Head of Finance for Emerging Technology at Google, and senior leadership positions at Branch, Electronic Arts, and Microsoft, where he led Corporate Development and Strategic Planning.
Marni Baker Stein, Chief Content Officer
Marni Baker Stein oversees Coursera's content and credential strategy and partner relationships. She has more than 25 years of experience in producing and scaling online and hybrid education programs. Before joining Coursera, she was Chief Academic Officer and Provost at Western Governors University.
Marcelo Modica, Chief People Officer
Marcelo Modica leads Coursera's global strategy and initiatives for fostering a high-performing and inclusive workplace. With over 30 years of experience, he has built people-centric organizations across global technology, consulting, and finance industries. His prior roles include Chief People Officer at OneTrust, Robinhood, and Mercer, and key leadership positions at JPMorgan Chase, Discover Financial Services, Morgan Stanley, and Prudential Securities.
Mustafa Furniturewala, Chief Technology Officer
Mustafa Furniturewala is the Chief Technology Officer at Coursera, responsible for infrastructure and information technology teams, ensuring the platform operates at scale and driving innovation. Before joining Coursera in 2014, he held various engineering roles at Twitter, Evernote, and Citrix Systems.
AI Analysis | Feedback
Here are the key risks to Coursera's business:
- Intense Competition and Market Saturation: Coursera operates in a highly competitive online education market with low barriers to entry. The company faces significant competition from platforms such as edX, Udemy, and LinkedIn Learning, as well as specialized tech-skilling providers and regional platforms. This competitive landscape can lead to margin pressure, challenges in maintaining a competitive advantage, and difficulty in growing its customer base, especially with the risk of price pressure and rapid content obsolescence increasing refresh costs.
- Lack of Consistent Profitability and Financial Performance: Coursera has historically faced challenges in achieving and maintaining operating profitability. Concerns include insufficient growth in financial indicators, a decline in average revenue per customer, and lower-than-anticipated EBITDA due to investment prioritization and macroeconomic uncertainties. Sustained unprofitability could impact the company's ability to invest in growth and its long-term financial viability.
- Maintaining Content Relevance and Quality Amidst Technological Disruption: The rapid evolution of educational content and technology, including AI-driven tools, poses a significant risk to Coursera's offerings. The company's ability to maintain high-quality, relevant content and continuously innovate in content delivery and learner engagement is crucial to sustain its competitive edge. Rapid content obsolescence can increase content refresh costs and compress margins, further compounded by potential difficulties in attracting and retaining content partnerships.
AI Analysis | Feedback
The rapid advancement and adoption of generative AI tools and personalized learning platforms powered by AI pose a clear emerging threat. These AI-driven solutions are enabling highly customized, interactive, and on-demand learning experiences that can bypass traditional structured online courses. Furthermore, AI can significantly lower the barrier to entry for educational content creation, potentially leading to a proliferation of alternative learning resources and platforms that directly compete with Coursera's core offerings.
AI Analysis | Feedback
Coursera, Inc. (COUR) operates within the expansive global online education market, offering a diverse range of products and services, including online courses, professional certificates, and degree programs, as well as enterprise solutions for businesses, academic institutions, and government organizations.
Addressable Markets for Coursera's Main Products and Services
Coursera estimates its total addressable market (TAM) across its offerings for individual consumers, corporate enterprises, higher education institutions, and government organizations to be approximately $155 billion globally.
More broadly, the market segments relevant to Coursera's operations include:
- Global Online Education/E-Learning Market: The global online education industry was valued at approximately $342.4 billion in 2024 and is projected to surpass $1 trillion by 2032. Other estimates place the global online education market size at around $71.52 billion in 2025, expanding to $379.61 billion by 2033. In North America, the e-learning market is projected to grow from $69.31 billion in 2023 to about $555.69 billion by 2034. The U.S. online learning industry alone is expected to be worth $687 billion by 2030.
- Global Massive Open Online Courses (MOOCs) Market: This segment, which includes many of Coursera's foundational offerings, was valued at $12.70 billion globally in 2024 and is expected to reach $29.69 billion by 2032. Another projection estimates the global MOOC market to reach $119.17 billion by the end of 2030.
- Global Online Degree Market: A significant portion of Coursera's higher education partnerships targets the online degree market, which is forecast to reach $74 billion globally in 2025, an increase from $36 billion in 2019.
- Global Reskilling and Online Certification Market: The reskilling and online certification segment is anticipated to be one of the fastest-growing areas within online education, with professional certification programs forecasted to generate $8.4 billion globally by 2028.
AI Analysis | Feedback
Expected Drivers of Future Revenue Growth for Coursera (COUR)
Over the next two to three years, Coursera (COUR) is expected to drive future revenue growth through several key initiatives and market trends:- Continued Growth in the Consumer Segment, Driven by Coursera Plus Subscriptions and Learner Engagement: Coursera has demonstrated strong performance in its Consumer segment, with particular strength observed in subscriptions and courses. The Coursera Plus subscription, offering unlimited access to a large catalog, now accounts for more than half of the Consumer segment's revenue, providing a predictable recurring revenue stream. This segment saw 12% year-over-year growth in Q4 2025. Strategic initiatives like changes to the freemium model and geo-pricing are also contributing to this growth.
- Expansion and Innovation Through AI-Powered Learning Experiences and New Content Offerings: Coursera is actively integrating artificial intelligence (AI) into its platform, launching AI-driven features such as Coursera Coach (an AI-powered tutor) and AI translations. Enrollments in generative AI courses have shown significant surges, indicating strong demand for AI-related content, with 1,100+ courses receiving 15 enrollments per minute in 2025, up from 8 per minute in 2024. This focus on AI-native learning and product innovation is considered a measurable revenue engine and a strategic priority.
- Growth in the Enterprise Segment Through Increased Paid Customers and Addressing Upskilling Demands: The Enterprise segment is another anticipated driver, with paid enterprise customers increasing and management expecting improved performance in 2026. Coursera is addressing the evolving needs of businesses and governments for upskilling and reskilling workforces, particularly as low-skilled jobs are impacted by AI and automation.
- Global Expansion and Localization of the Platform and Content: Coursera is enhancing its global reach through platform improvements such as localized discovery, pricing, and payment plans. Improved translation capabilities, including AI dubbing for popular courses in multiple languages, are expanding access to its content worldwide. Geographic expansion is a focus, highlighted by significant government deals in Asia.
- Strategic Benefits and Synergies from the Acquisition of Udemy: The announced merger with Udemy is a significant strategic move aimed at enhancing Coursera's capabilities in the evolving skills market. This acquisition is expected to accelerate Coursera's overall strategy, improve its position in the global talent transformation landscape, and create a more balanced revenue split between its consumer and enterprise businesses, targeting a combined entity of $1.5 billion.
AI Analysis | Feedback
Share Repurchases
- Coursera's Board of Directors approved a share repurchase program in April 2023, authorizing the purchase of up to $95 million of the company's common stock.
- This program was primarily designed to reduce the impact of share dilution from one-time employee stock issuances granted in 2022.
- The $95 million repurchase authorization was completed by May 2024.
Share Issuance
- Coursera expects to issue approximately 117,186,407 shares of its common stock to Udemy stockholders as part of an all-stock merger agreement announced in December 2025, which is anticipated to close in the second half of 2026.
- In connection with the Udemy merger, Coursera is seeking stockholder approval to increase its authorized common stock from 300,000,000 to 600,000,000 shares.
- The company regularly issues equity compensation, such as performance-based restricted stock units (PSUs) and restricted stock units (RSUs), to employees. For instance, stock-based compensation was $95.10 million for the quarter ending December 31, 2025, and $108.08 million for the fiscal year ending December 31, 2024.
Outbound Investments
- Coursera announced a definitive agreement in December 2025 to acquire Udemy in an all-stock transaction valued at approximately $2.5 billion. This merger is expected to close in the second half of 2026.
- Coursera has also made one investment in Unstop and acquired Rhyme Softworks.
Capital Expenditures
- Coursera Inc.'s capital expenditures amounted to -$30.2 million for the fiscal year ending December 31, 2025.
- The consensus capital expenditures, actual, for Coursera averaged $1.49 million from fiscal years ending December 2020 to 2024, peaking at $1.585 million in December 2024.
- Coursera's capital allocation strategy prioritizes long-term growth and includes ongoing investment in AI-native platform capabilities.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Cash Rich, Low Price - Coursera Stock to Break Out? | 01/10/2026 | |
| Coursera Earnings Notes | 12/16/2025 | |
| Can Coursera Stock Recover If Markets Fall? | 10/17/2025 | |
| How Does Coursera Stock Stack Up Against Its Peers? | 08/13/2025 | |
| Coursera (COUR) Debt Comparison | 08/08/2025 | |
| Coursera (COUR) Net Income Comparison | 08/08/2025 | |
| Coursera (COUR) Operating Cash Flow Comparison | 08/08/2025 | |
| Coursera (COUR) EBITDA Comparison | 08/08/2025 | |
| Coursera (COUR) Tax Expense Comparison | 08/08/2025 | |
| ARTICLES | ||
| Could Coursera Stock’s Cash Flow Spark the Next Rally? | 01/10/2026 | |
| Cash Rich, Low Price – Coursera Stock to Break Out? | 12/24/2025 | |
| Small Cap Stocks Trading At 52-Week High | 07/29/2025 | |
| Market Movers | Winners: COUR, FIX, BELFA | Losers: CRI, LBRDA, CHTR | 07/26/2025 |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 5.77 |
| Mkt Cap | 0.5 |
| Rev LTM | 628 |
| Op Inc LTM | -59 |
| FCF LTM | 37 |
| FCF 3Y Avg | 56 |
| CFO LTM | 56 |
| CFO 3Y Avg | 94 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 3.0% |
| Rev Chg 3Y Avg | 3.7% |
| Rev Chg Q | -1.0% |
| QoQ Delta Rev Chg LTM | -0.1% |
| Op Inc Chg LTM | 10.1% |
| Op Inc Chg 3Y Avg | 27.4% |
| Op Mgn LTM | -8.8% |
| Op Mgn 3Y Avg | -12.1% |
| QoQ Delta Op Mgn LTM | 0.2% |
| CFO/Rev LTM | 8.2% |
| CFO/Rev 3Y Avg | 12.3% |
| FCF/Rev LTM | 5.0% |
| FCF/Rev 3Y Avg | 7.3% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 0.5 |
| P/S | 0.7 |
| P/Op Inc | -1.5 |
| P/EBIT | -1.0 |
| P/E | -0.8 |
| P/CFO | 5.5 |
| Total Yield | -44.8% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 5.7% |
| D/E | 0.3 |
| Net D/E | -0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -5.9% |
| 3M Rtn | -12.3% |
| 6M Rtn | 1.5% |
| 12M Rtn | -38.0% |
| 3Y Rtn | -69.3% |
| 1M Excs Rtn | -6.0% |
| 3M Excs Rtn | -21.9% |
| 6M Excs Rtn | -11.5% |
| 12M Excs Rtn | -56.8% |
| 3Y Excs Rtn | -135.2% |
Comparison Analyses
Price Behavior
| Market Price | $5.36 | |
| Market Cap ($ Bil) | 0.9 | |
| First Trading Date | 03/31/2021 | |
| Distance from 52W High | -57.8% | |
| 50 Days | 200 Days | |
| DMA Price | $5.59 | $6.81 |
| DMA Trend | down | down |
| Distance from DMA | -4.1% | -21.3% |
| 3M | 1YR | |
| Volatility | 68.9% | 65.1% |
| Downside Capture | -87.47 | 135.83 |
| Upside Capture | -136.77 | 46.72 |
| Correlation (SPY) | -10.5% | 11.1% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.14 | -0.29 | -0.52 | 0.21 | 0.57 | 1.00 |
| Up Beta | 0.14 | -0.22 | -1.26 | -1.03 | -0.75 | 0.98 |
| Down Beta | 2.43 | 2.02 | 1.13 | 0.78 | 0.80 | 0.96 |
| Up Capture | -38% | -101% | -34% | 9% | 42% | 43% |
| Bmk +ve Days | 11 | 24 | 40 | 67 | 140 | 429 |
| Stock +ve Days | 8 | 18 | 31 | 58 | 131 | 365 |
| Down Capture | -89% | -132% | -91% | 89% | 123% | 106% |
| Bmk -ve Days | 10 | 17 | 23 | 58 | 112 | 321 |
| Stock -ve Days | 12 | 22 | 31 | 63 | 116 | 370 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with COUR | |
|---|---|---|---|---|
| COUR | -38.8% | 65.0% | -0.51 | - |
| Sector ETF (XLY) | 4.0% | 18.7% | 0.08 | 19.6% |
| Equity (SPY) | 20.3% | 12.6% | 1.19 | 11.0% |
| Gold (GLD) | 21.6% | 28.1% | 0.69 | -6.9% |
| Commodities (DBC) | 31.4% | 19.1% | 1.30 | -16.0% |
| Real Estate (VNQ) | 15.0% | 14.0% | 0.76 | 10.1% |
| Bitcoin (BTCUSD) | -44.6% | 42.9% | -1.25 | 3.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with COUR | |
|---|---|---|---|---|
| COUR | -32.9% | 58.8% | -0.46 | - |
| Sector ETF (XLY) | 5.7% | 23.9% | 0.20 | 40.1% |
| Equity (SPY) | 12.9% | 17.1% | 0.58 | 36.5% |
| Gold (GLD) | 17.3% | 18.4% | 0.76 | 2.5% |
| Commodities (DBC) | 8.9% | 19.5% | 0.35 | 1.4% |
| Real Estate (VNQ) | 2.9% | 18.9% | 0.05 | 29.4% |
| Bitcoin (BTCUSD) | 14.9% | 53.4% | 0.46 | 21.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with COUR | |
|---|---|---|---|---|
| COUR | -19.2% | 59.7% | -0.45 | - |
| Sector ETF (XLY) | 12.1% | 22.1% | 0.50 | 39.1% |
| Equity (SPY) | 15.2% | 17.9% | 0.72 | 35.0% |
| Gold (GLD) | 11.2% | 16.1% | 0.57 | 2.6% |
| Commodities (DBC) | 7.2% | 17.9% | 0.32 | 1.9% |
| Real Estate (VNQ) | 5.1% | 20.7% | 0.21 | 28.3% |
| Bitcoin (BTCUSD) | 58.7% | 66.2% | 0.99 | 19.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 6/3/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 4/23/2026 | -11.6% | -0.3% | -10.9% |
| 2/5/2026 | -1.2% | -3.2% | 2.8% |
| 10/23/2025 | -12.9% | -21.6% | -23.2% |
| 7/24/2025 | 36.2% | 39.2% | 25.3% |
| 4/24/2025 | 13.6% | 9.2% | 10.0% |
| 1/30/2025 | -11.7% | -19.8% | -17.3% |
| 10/24/2024 | -9.7% | -8.8% | -6.7% |
| 7/25/2024 | 44.7% | 18.2% | 12.8% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 8 | 8 | 9 |
| # Negative | 13 | 13 | 12 |
| Median Positive | 18.2% | 7.6% | 12.8% |
| Median Negative | -9.7% | -8.8% | -19.9% |
| Max Positive | 44.7% | 39.2% | 29.8% |
| Max Negative | -16.7% | -21.6% | -35.4% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 4/23/2026 | -11.6% | -0.3% | -10.9% |
| 2/5/2026 | -1.2% | -3.2% | 2.8% |
| 10/23/2025 | -12.9% | -21.6% | -23.2% |
| 7/24/2025 | 36.2% | 39.2% | 25.3% |
| 4/24/2025 | 13.6% | 9.2% | 10.0% |
| 1/30/2025 | -11.7% | -19.8% | -17.3% |
| 10/24/2024 | -9.7% | -8.8% | -6.7% |
| 7/25/2024 | 44.7% | 18.2% | 12.8% |
| 4/29/2024 | -14.0% | -19.4% | -35.4% |
| 2/1/2024 | -4.9% | -7.9% | -19.6% |
| 10/26/2023 | 0.1% | 4.8% | 15.3% |
| 7/27/2023 | 17.7% | 22.7% | 29.8% |
| 4/27/2023 | 18.7% | 5.9% | 18.7% |
| 2/9/2023 | -9.1% | -10.5% | -21.9% |
| 10/26/2022 | 4.6% | 1.6% | 11.6% |
| 7/27/2022 | -16.7% | -16.1% | -24.4% |
| 4/27/2022 | -3.3% | -8.2% | -19.2% |
| 2/10/2022 | -6.3% | -4.3% | -20.5% |
| 11/2/2021 | -10.7% | -3.4% | -20.3% |
| 8/3/2021 | 21.4% | 4.5% | 9.4% |
| 5/4/2021 | -8.0% | -11.4% | -13.3% |
| SUMMARY STATS | |||
| # Positive | 8 | 8 | 9 |
| # Negative | 13 | 13 | 12 |
| Median Positive | 18.2% | 7.6% | 12.8% |
| Median Negative | -9.7% | -8.8% | -19.9% |
| Max Positive | 44.7% | 39.2% | 29.8% |
| Max Negative | -16.7% | -21.6% | -35.4% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 04/30/2026 | 10-Q |
| 12/31/2025 | 02/23/2026 | 10-K |
| 09/30/2025 | 10/31/2025 | 10-Q |
| 06/30/2025 | 07/31/2025 | 10-Q |
| 03/31/2025 | 05/01/2025 | 10-Q |
| 12/31/2024 | 02/24/2025 | 10-K |
| 09/30/2024 | 11/06/2024 | 10-Q |
| 06/30/2024 | 08/01/2024 | 10-Q |
| 03/31/2024 | 05/02/2024 | 10-Q |
| 12/31/2023 | 02/22/2024 | 10-K |
| 09/30/2023 | 11/02/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 02/23/2023 | 10-K |
| 09/30/2022 | 11/09/2022 | 10-Q |
| 06/30/2022 | 08/04/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 04/30/2026 | 10-Q |
| 12/31/2025 | 02/23/2026 | 10-K |
| 09/30/2025 | 10/31/2025 | 10-Q |
| 06/30/2025 | 07/31/2025 | 10-Q |
| 03/31/2025 | 05/01/2025 | 10-Q |
| 12/31/2024 | 02/24/2025 | 10-K |
| 09/30/2024 | 11/06/2024 | 10-Q |
| 06/30/2024 | 08/01/2024 | 10-Q |
| 03/31/2024 | 05/02/2024 | 10-Q |
| 12/31/2023 | 02/22/2024 | 10-K |
| 09/30/2023 | 11/02/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 02/23/2023 | 10-K |
| 09/30/2022 | 11/09/2022 | 10-Q |
| 06/30/2022 | 08/04/2022 | 10-Q |
| 03/31/2022 | 05/06/2022 | 10-Q |
| 12/31/2021 | 03/03/2022 | 10-K |
| 09/30/2021 | 11/10/2021 | 10-Q |
| 06/30/2021 | 08/13/2021 | 10-Q |
| 03/31/2021 | 05/11/2021 | 10-Q |
| 12/31/2020 | 03/31/2021 | 424B4 |
Recent Forward Guidance
Updated 7/12/2026Latest: Q1 2026 Earnings Reported 4/23/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q2 2026 Revenue | 196.00 Mil | 198.00 Mil | 200.00 Mil | 1.5% | Higher New | Guidance: 195.00 Mil for Q1 2026 | |
| Q2 2026 Adjusted EBITDA | 12.00 Mil | 14.00 Mil | 16.00 Mil | 7.7% | Higher New | Guidance: 13.00 Mil for Q1 2026 | |
| 2026 Revenue | 805.00 Mil | 810.00 Mil | 815.00 Mil | 0 | Affirmed | Guidance: 810.00 Mil for 2026 | |
| 2026 Adjusted EBITDA | 70.00 Mil | 73.00 Mil | 76.00 Mil | 0 | Affirmed | Guidance: 73.00 Mil for 2026 | |
| 2026 Adjusted EBITDA Margin | 9.0% | 0 | Affirmed | Guidance: 9.0% for 2026 | |||
Prior: Q4 2025 Earnings Reported 2/5/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2026 Revenue | 193.00 Mil | 195.00 Mil | 197.00 Mil | 2.1% | Higher New | Actual: 191.00 Mil for Q4 2025 | |
| Q1 2026 Adjusted EBITDA | 11.00 Mil | 13.00 Mil | 15.00 Mil | 52.9% | Higher New | Actual: 8.50 Mil for Q4 2025 | |
| 2026 Revenue | 805.00 Mil | 810.00 Mil | 815.00 Mil | 7.7% | Higher New | Actual: 752.00 Mil for 2025 | |
| 2026 Adjusted EBITDA | 70.00 Mil | 73.00 Mil | 76.00 Mil | ||||
| 2026 Adjusted EBITDA Margin | 9.0% | ||||||
Q3 2025 Earnings Reported 10/23/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2025 Revenue | 189.00 Mil | 191.00 Mil | 193.00 Mil | 0.5% | Higher New | Guidance: 190.00 Mil for Q3 2025 | |
| Q4 2025 Adjusted EBITDA | 7.00 Mil | 8.50 Mil | 10.00 Mil | -29.2% | Lower New | Guidance: 12.00 Mil for Q3 2025 | |
| 2025 Revenue | 750.00 Mil | 752.00 Mil | 754.00 Mil | 1.3% | Raised | Guidance: 742.00 Mil for 2025 | |
| 2025 Adjusted EBITDA Margin Improvement | 2.0% | ||||||
Insider Activity
Updated 6/15/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Insight, Holdings Group, Llc | See Footnote | Sell | 5202026 | 5.24 | 1,466,372 | 7,689,801 | 2,201,389 | Form | |
| 2 | Insight, Holdings Group, Llc | See Footnote | Sell | 5202026 | 5.24 | 1,466,372 | 7,689,801 | 2,201,389 | Form | |
| 3 | Insight, Holdings Group, Llc | See Footnote | Sell | 5202026 | 5.41 | 455,000 | 2,461,414 | 2,388,053 | Form | |
| 4 | Insight, Holdings Group, Llc | See Footnote | Sell | 5202026 | 5.41 | 455,000 | 2,461,414 | 2,388,053 | Form | |
| 5 | Insight, Holdings Group, Llc | See footnote | Sell | 5202026 | 5.69 | 78,628 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Insight, Holdings Group, Llc | See Footnote | Sell | 5202026 | 5.24 | 1,466,372 | 7,689,801 | 2,201,389 | Form | |
| 2 | Insight, Holdings Group, Llc | See Footnote | Sell | 5202026 | 5.24 | 1,466,372 | 7,689,801 | 2,201,389 | Form | |
| 3 | Insight, Holdings Group, Llc | See Footnote | Sell | 5202026 | 5.41 | 455,000 | 2,461,414 | 2,388,053 | Form | |
| 4 | Insight, Holdings Group, Llc | See Footnote | Sell | 5202026 | 5.41 | 455,000 | 2,461,414 | 2,388,053 | Form | |
| 5 | Insight, Holdings Group, Llc | See footnote | Sell | 5202026 | 5.69 | 78,628 | Form | |||
| 6 | Cardenas, Alan B | SVP, General Counsel | Direct | Sell | 5192026 | 5.52 | 9,139 | 50,447 | 1,412,756 | Form |
| 7 | Cardenas, Alan B | SVP, General Counsel | Direct | Sell | 2182026 | 5.92 | 9,710 | 57,483 | 1,289,826 | Form |
| 8 | Cardenas, Alan B | SVP, General Counsel | Direct | Sell | 12172025 | 8.17 | 8,078 | 65,997 | 1,943,055 | Form |
| 9 | Meyers, Michele M | VP, Accounting, and CAO | Direct | Sell | 10202025 | 10.27 | 3,500 | 35,945 | 2,406,210 | Form |
| 10 | Meyers, Michele M | VP, Accounting, and CAO | Direct | Sell | 9222025 | 11.31 | 3,500 | 39,585 | 2,689,461 | Form |
| 11 | Hahn, Kenneth R | SVP, Chief Financial Officer | Direct | Sell | 9102025 | 11.97 | 29,636 | 354,743 | 11,419,943 | Form |
| 12 | Hahn, Kenneth R | SVP, Chief Financial Officer | Direct | Sell | 9102025 | 11.46 | 20,364 | 233,371 | 11,273,007 | Form |
| 13 | Cardenas, Alan B | SVP, General Counsel | Direct | Sell | 9052025 | 11.14 | 24,631 | 274,389 | 2,879,980 | Form |
| 14 | Meyers, Michele M | VP, Accounting, and CAO | Direct | Sell | 8192025 | 11.94 | 2,500 | 29,850 | 2,881,062 | Form |
| 15 | Hahn, Kenneth R | SVP, Chief Financial Officer | Direct | Sell | 8182025 | 11.92 | 25,000 | 298,000 | 12,526,168 | Form |
| 16 | Hahn, Kenneth R | SVP, Chief Financial Officer | Direct | Sell | 8182025 | 11.87 | 75,000 | 890,250 | 12,770,375 | Form |
| 17 | Meyers, Michele M | VP, Accounting, and CAO | Direct | Sell | 7292025 | 11.60 | 12,500 | 145,000 | 2,938,872 | Form |
Investor Activity (13F)
Updated Jul 22, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Mak Capital One LLC | $32.7 Mil | 5.4% | 21 | ADD +49.8% | 13F |
| Quaker Capital Investments, LLC | $19.2 Mil | 4.7% | 21 | ADD +330.0% | 13F |
| NEA Management Company, LLC | $74.9 Mil | 4.3% | 26 | Hold | 13F |
| Westerly Capital Management, LLC | $9.9 Mil | 3.0% | 36 | ADD +70.0% | 13F |
| Caledonia (Private) Investments Pty Ltd | $66.7 Mil | 1.9% | 16 | Hold | 13F |
| Active Manager |
|---|
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| NEA Management Company, LLC | $74.9 Mil | 4.3% | 26 | Hold | 13F |
| Caledonia (Private) Investments Pty Ltd | $66.7 Mil | 1.9% | 16 | Hold | 13F |
| Mak Capital One LLC | $32.7 Mil | 5.4% | 21 | ADD +49.8% | 13F |
| Quaker Capital Investments, LLC | $19.2 Mil | 4.7% | 21 | ADD +330.0% | 13F |
| Westerly Capital Management, LLC | $9.9 Mil | 3.0% | 36 | ADD +70.0% | 13F |
Coursera — Investor Video Playlist
Industry Resources
| Consumer Discretionary Resources |
| Retail Dive |
| Business of Fashion (BoF) |
| WWD (Women's Wear Daily) |
| National Retail Federation (NRF) |
| McKinsey & Company - Consumer |
| Mintel Consumer Trends |
| Education Services Resources |
| EdSurge |
| Education Week |
| Inside Higher Ed |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.