Open online course provider Coursera Inc (NYSE:COUR) reported first-quarter FY24 quarterly sales of $169.1 million, which missed the analyst consensus estimate of $170.433 million. The quarterly earnings of 7 cents per share beat the analyst estimate.
Following are the reactions of analysts after the first-quarter FY24 earnings.
Goldman Sachs – Reiterates Sell, lowers price target from $15 to $10.50.
According to analyst Eric Sheridan, revenue disappointed based on elements of lower user funnel conversion, delayed content launches, and a continued weaker enterprise environment.
Net revenue retention dropped from 98% to 94% Q/Q as the overall enterprise environment remained challenged, noted the analyst.
In the near-term, the analyst expects investor debates to remain focused on any recovery in the demand environment across all segments.
In the longer term, there are still open-ended questions around the timing and magnitude of how enterprises will integrate generative AI into their ecosystems and the role Coursera's platform will play within ...