Coursera's Slowdown In Growth Likely Remains Near-Term Overhang, Analyst Says
Coursera's Slowdown In Growth Likely Remains Near-Term Overhang, Analyst Says
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.
開放在線課程提供商Coursera Inc（紐約證券交易所代碼：COUR）報告稱，24財年第一季度季度銷售額爲1.691億美元，未達到分析師共識估計的1.70433億美元。每股7美分的季度收益超過了分析師的預期。
Following are the reactions of analysts after the first-quarter FY24 earnings.
以下是分析師在24財年第一季度業績公佈後的反應。
Goldman Sachs – Reiterates Sell, lowers price target from $15 to $10.50.
高盛—重申賣出，將目標股價從15美元下調至10.50美元。
According to analyst Eric Sheridan, revenue disappointed based on elements of lower user funnel conversion, delayed content launches, and a continued weaker enterprise environment.
分析師埃裏克·謝里丹表示，由於用戶渠道轉化率降低、內容發佈延遲以及企業環境持續疲軟等因素，收入令人失望。
Net revenue retention dropped from 98% to 94% Q/Q as the overall enterprise environment remained challenged, noted the analyst.
分析師指出，由於整體企業環境仍然面臨挑戰，淨收入保留率從每季度的98％下降至94％。
In the near-term, the analyst expects investor debates to remain focused on any recovery in the demand environment across all segments.
分析師預計，在短期內，投資者的辯論仍將集中在所有細分市場需求環境的任何復甦上。
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 this context, noted the analyst.
分析師指出，從長遠來看，圍繞企業如何將生成式人工智能整合到其生態系統的時機和規模，以及Coursera的平台將在這種背景下發揮的作用，仍然存在開放性問題。
Cantor Fitzgerald – Reiterates Overweight, lowers price target from $26 to $21
坎託·菲茨傑拉德——重申增持，將目標股價從26美元下調至21美元
For the first time in the last seven quarters, Coursera delivered revenue below the midpoint of its previously given guidance range, analyst Brett Knoblauch noted.
分析師佈雷特·諾布勞赫指出，在過去七個季度中，Coursera的收入首次低於先前給出的指導區間的中點。
Despite Coursera adding 7 million new registered learners, its consumer segment was the biggest underperformer, driven by lower spend, noted the analyst.
分析師指出，儘管Coursera增加了700萬新註冊學員，但受支出減少的推動，其消費細分市場表現最差。
The analyst added that the management said the weakness was primarily due to North American paid learners, who have meaningfully higher economics than international paid learners.
該分析師補充說，管理層表示，這種疲軟主要是由於北美的帶薪學習者所致，他們的經濟水平明顯高於國際付費學習者。
The guidance of $164 million in 2Q24 revenue and revised $700 million (midpoint) revenue forecast in FY24 was the biggest guidance revision the company has made in its history since it went public in 2021, said the analyst.
該分析師表示，24財年第二季度收入預期爲1.64億美元，修訂後的24財年收入預測爲7億美元（中點），這是該公司自2021年上市以來歷史上最大規模的指導性修訂。
Out of the Degrees, Consumer and Enterprise segments, the analyst argued that two are poised to have a better macro backdrop over the coming quarters/years, but noted Coursera's consumer segment is the most meaningful and will have an outsized impact on total revenue growth.
分析師認爲，在學位、消費者和企業板塊中，兩個細分市場有望在未來幾個季度/幾年中出現更好的宏觀背景，但他指出，Coursera的消費板塊是最有意義的，將對總收入增長產生巨大影響。
Coursera has enough cash on hand to repurchase ~42% of the company, and at current valuations, the analyst said it would be a missed opportunity if it did not.
Coursera手頭有足夠的現金回購該公司約42％的股份，按照目前的估值，分析師表示，如果不這樣做，那將是一個錯失的機會。
Overall, the analyst sees Coursera as the most important education platform across the globe and which is making the right investments that should drive more meaningful growth in the future.
總體而言，分析師將Coursera視爲全球最重要的教育平台，並且正在進行正確的投資，這將推動未來更有意義的增長。
Coursera stock lost more than 13% in the last 12 months. Investors can gain exposure to the stock via Neuberger Berman Next Generation Connected Consumer ETF (NYSE:NBCC) and Vanguard Total Stock Market Index Fund ETF (NYSE:VTI)
在過去的12個月中，Coursera的股票下跌了13％以上。投資者可以通過紐伯格伯曼下一代互聯消費者ETF（紐約證券交易所代碼：NBCC）和Vanguard Total Stock Market指數基金ETF（紐約證券交易所代碼：VTI）獲得股票敞口
Price Action: COUR shears are trading lower by 13.9% at $10.24 at the last check Tuesday.
價格走勢：在週二的最後一次支票中，COUR股票的交易價格下跌了13.9％，至10.24美元。
Photo: Joyseulay via Shutterstock
照片：來自 Shutterstock 的 Joyseulay