COUR - Coursera: On Structural Concerns And Valuation

• Coursera had a strong, post-IPO Q1, with good growth across its 3 operating segments.
• However, I see a number of structural issues related to its operations that make a long-term play difficult to justify at the current valuation.
• Despite overwhelmingly bullish analyst consensus and an average price target near ~$52, I think caution is in order, especially for investors on the sidelines.
• Personally, I think an investment below $10/share would be a reasonable gamble, but a gamble nonetheless given the issues that I outline in the report.

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