COUR - Why Coursera Stock Crashed to an All-Time Low Today
2024-04-30 13:29:43 ET
Shares of online education company Coursera (NYSE: COUR) crashed on Tuesday and even briefly hit all-time lows in the first moments of trading today. Coursera stock has recovered a little from the bottom, but was still down about 12% as of noon ET.
Coursera just reported financial results for the first quarter of 2024, and in isolation, the numbers weren't bad. In Q1, the company generated revenue of $169 million, up 15% year over year. Its gross margin improved to 53% compared to 52% in the prior-year period. And it quintupled its cash from operations to $24.5 million.
Analysts were nevertheless discouraged because the numbers for Coursera aren't as good as expected. For starters, the company's Q1 revenue was at the low end of its guidance. And for 2024, management just lowered revenue expectations to $705 million, at best, compared with previous guidance of $730 million, at worst.
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Why Coursera Stock Crashed to an All-Time Low Today