Coursera (COUR) AI Stock Analysis

• Market Cap: $1.06B
• Dividend Yield: N/A
• Average Volume (3M): 5.29M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.27
• Revenue Growth: 8.10%
• EPS Growth: 43.35%
• Country: US
• Employees: 1,260
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Education & Training Services
• EPS (TTM): 0.06
• Shares Outstanding: 168,200,000
• 10 Day Avg. Volume: 5,771,173
• 30 Day Avg. Volume: 5,290,772
• PEG Ratio: 0.60
• Price to Book (P/B): 1.90
• Price to Sales (P/S): 1.59
• P/FCF Ratio: 11.25
• Enterprise Value/Market Cap: 0.25
• Enterprise Value/Revenue: 0.35
• Enterprise Value/Gross Profit: 0.64
• Enterprise Value/Ebitda: -10.16
• 1Y Price Target: $9.40
• Price Target Upside: 56.41% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 11
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 64 Neutral
• Price Target: $6.50 ▲(8.15% Upside)
• Action: Reiterated Date: 02/11/26
• Date: Action: Reiterated 02/11/26

The score is driven primarily by improving fundamentals (strong cash generation and a very low-debt balance sheet) and a generally positive forward outlook from management. These are meaningfully tempered by weak technicals (clear downtrend) and valuation limitations due to negative earnings, plus execution risk around enterprise momentum and deal-related timing/costs.

Positive Factors

Strong balance sheet / low leverage

Substantial cash and effectively zero debt provide durable financial flexibility to fund product investment, absorb integration costs from the Udemy deal, and pursue opportunistic M&A or buybacks. This reduces refinancing risk and supports multi-quarter execution even if revenue softens.

Improving cash generation

Consistent positive operating and free cash flow that tracks above adjusted EBITDA strengthens self-funding of growth and AI investments. While earlier years showed volatility, the sustained FCF improvement improves resilience and reduces reliance on external capital over the medium term.

Large learner base and content expansion

Rapid learner additions and a significantly larger catalog deepen network effects, broaden monetization channels, and support higher conversion over time. Combined with AI-themed courses and partner content, this structural scale improves competitive positioning for sustained user engagement.

Negative Factors

Below-target enterprise retention

A sub-100% enterprise net retention rate indicates limited upsell and potential churn among higher-value customers. For a platform selling B2B solutions, weaker retention reduces revenue predictability, constrains margin expansion, and prolongs the time to capitalize on enterprise investment.

Negative returns on equity / still unprofitable on GAAP basis

Despite narrower losses and improving margins, a negative ROE shows the company has not yet converted operating improvements into consistent GAAP profitability. This limits long-term shareholder returns and means continued execution is required to sustain earnings durability.

Revenue growth deceleration & product headwinds

Management's slower growth outlook, degree product drag, and subscription-recognition timing suggest top-line momentum may weaken. Slower revenue ramps compress operating leverage and make achieving projected synergies and funding AI investments more challenging over the coming 2-6 months.

Coursera Business Overview & Revenue Model

Company Description

Coursera, Inc. operates an online educational content platform that connects learners, educators, organizations, and institutions. It offers online courses that include data science, business, computer science, information technology, health, social sciences, logic, project management, and digital marketing services; campus student plans; degree courses; and certification education. Coursera, Inc. was formerly known as Dkandu, Inc. and changed its name to Coursera, Inc. in April 2012. The company was incorporated in 2011 and is headquartered in Mountain View, California.

How the Company Makes Money

Coursera generates revenue through multiple streams, primarily consisting of course fees, subscription models, and enterprise solutions. Individual learners can pay for courses or enroll in subscription plans that provide access to a broader range of content. Additionally, Coursera collaborates with universities and organizations to offer degree programs, which contribute significant revenue through tuition fees. The company also leverages a business-to-business (B2B) model by providing tailored learning solutions to enterprises seeking to train their employees, thus expanding its revenue base. Strategic partnerships with universities and industry leaders enhance course offerings and attract more users, further driving revenue growth.

Coursera Financial Statement Overview

Summary

Financials are improving with strong multi-year revenue growth, narrowing losses, and solid positive operating cash flow/free cash flow. Balance sheet is a major strength with minimal leverage and significant equity, but profitability is still a key constraint (ongoing operating/net losses and some gross margin pressure versus prior peaks).

Income Statement

Revenue has expanded meaningfully over the last several years (from $293.5M in 2020 to $757.5M in 2025), and profitability is clearly improving: net loss narrowed to -6.7% in 2025 versus -11.4% in 2024 and -18.3% in 2023, alongside better operating loss margins. Gross margin is solid (~54.6% in 2025) but has trended down from earlier highs (e.g., ~63.3% in 2022). The key weakness remains that the company is still unprofitable on both an operating and net basis (negative EBIT/EBITDA in 2025).

Balance Sheet

The balance sheet looks conservatively financed, with very low debt relative to equity (debt-to-equity ~0.8% in 2025; ~0.5% in 2024) and a sizable equity base ($635.7M in 2025) against $1.0B of assets. This creates financial flexibility and limits leverage risk. The main drawback is ongoing negative returns on equity (ROE -8.0% in 2025), reflecting continued net losses even as they improve.

Cash Flow

Cash generation is a notable strength: operating cash flow was positive and growing in absolute terms ($108.7M in 2025 vs. $95.4M in 2024), and free cash flow remained strongly positive ($107.2M in 2025). That said, free cash flow declined year over year in 2025 (-7.8% growth), and earlier years show more volatility (including negative operating cash flow and free cash flow in 2022), indicating cash flow durability has improved but hasn’t been perfectly consistent across the cycle.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	757.50M	694.67M	635.76M	523.76M	415.29M
Gross Profit	413.40M	371.41M	329.77M	331.48M	249.47M
EBITDA	-17.10M	-79.19M	-129.13M	-148.73M	-128.33M
Net Income	-51.00M	-79.53M	-116.55M	-175.36M	-145.22M
Balance Sheet
Total Assets	1.00B	930.27M	920.53M	947.60M	958.91M
Cash, Cash Equivalents and Short-Term Investments	792.60M	727.70M	722.07M	780.96M	821.77M
Total Debt	5.00M	3.06M	6.60M	14.45M	19.89M
Total Liabilities	364.30M	332.85M	304.34M	253.02M	217.40M
Stockholders Equity	635.70M	597.42M	616.19M	694.58M	741.51M
Cash Flow
Free Cash Flow	107.20M	93.78M	13.24M	-51.93M	-11.90M
Operating Cash Flow	108.70M	95.36M	29.64M	-38.05M	1.75M
Investing Cash Flow	-30.20M	29.90M	384.80M	-234.02M	-51.61M
Financing Cash Flow	-13.50M	-54.94M	-79.23M	12.23M	550.16M

Coursera Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 6.01
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For COUR, the sentiment is Neutral. The current price of 6.01 is below the 20-day moving average (MA) of 6.02, below the 50-day MA of 6.74, and below the 200-day MA of 8.98, indicating a neutral trend. The MACD of -0.18 indicates Negative momentum. The RSI at 51.34 is Neutral, neither overbought nor oversold. The STOCH value of 79.09 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for COUR.

Coursera Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
EDU	78 Outperform	$9.81B	25.08	10.05%	1.03%	7.22%	-2.84%
GHC	75 Outperform	$4.66B	6.39	17.20%	0.65%	4.13%	228.37%
ATGE	73 Outperform	$3.44B	14.67	17.92%	―	12.24%	52.97%
LOPE	73 Outperform	$4.26B	20.32	28.24%	―	7.05%	-2.63%
COUR	64 Neutral	$1.06B	-20.38	-8.27%	―	8.10%	43.35%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
UDMY	60 Neutral	$714.02M	200.41	1.87%	―	2.53%	95.79%

Coursera Corporate Events

Coursera Advances Udemy Merger After Antitrust Clearance

On December 17, 2025, Coursera, Inc. entered into a Merger Agreement with Udemy, Inc. and a Coursera subsidiary to combine the two online learning platforms in an all-stock transaction. The deal aims to create a larger, integrated digital education provider by unifying their course offerings and customer bases in the competitive online learning market.

On January 9, 2026, the companies filed required premerger notification forms under the Hart-Scott-Rodino Antitrust Improvements Act, and the U.S. Federal Trade Commission granted early termination of the waiting period effective February 9, 2026. Completion of the merger still depends on satisfying remaining customary closing conditions, including additional regulatory clearances and approvals from Coursera and Udemy stockholders, which will determine the transaction’s finalization and impact on stakeholders.

The most recent analyst rating on (COUR) stock is a Hold with a $7.00 price target. To see the full list of analyst forecasts on Coursera stock, see the COUR Stock Forecast page.

Coursera’s Chief Accounting Officer Resigns

On December 12, 2025, Coursera announced that Michele M. Meyers, its Vice President of Accounting, Chief Accounting Officer, and principal accounting officer, has resigned effective January 2, 2026, to pursue another career opportunity. Her resignation was not due to any disagreements with the company, its operations, or its policies, ensuring a smooth transition for the organization.

The most recent analyst rating on (COUR) stock is a Buy with a $12.00 price target. To see the full list of analyst forecasts on Coursera stock, see the COUR Stock Forecast page.

Coursera Announces Merger Agreement with Udemy

On December 17, 2025, Coursera announced a definitive merger agreement with Udemy, under which Udemy will become a wholly owned subsidiary of Coursera. The merger aims to combine the strengths of both companies to enhance their competitive positions and advance their shared mission of expanding access to online education. The transaction is subject to various closing conditions, including shareholder and regulatory approvals, and involves structural and governance changes in the combined company, with Coursera maintaining a leadership role. Termination provisions and fees were set in case the deal falls through, highlighting the careful planning involved in this merger.

The most recent analyst rating on (COUR) stock is a Buy with a $12.00 price target. To see the full list of analyst forecasts on Coursera stock, see the COUR Stock Forecast page.

Coursera Announces $2.5B Merger with Udemy

Coursera and Udemy announced on December 17, 2025, that they have entered a definitive merger agreement under which Coursera will acquire Udemy in an all-stock transaction valued at approximately $2.5 billion. The merger aims to combine the complementary strengths of both platforms to form a leading AI-driven education ecosystem, enhancing global reach, accelerating innovation, and unlocking $115 million in anticipated cost synergies within 24 months of closure. The combined company, which will retain the Coursera name and be headquartered in Mountain View, California, aims to establish itself as a dominant force in addressing the growing demand for upskilling and reskilling in an era of rapid technology transformation.

The most recent analyst rating on (COUR) stock is a Hold with a $9.00 price target. To see the full list of analyst forecasts on Coursera stock, see the COUR Stock Forecast page.

Coursera Appoints Michael Foley as Interim CFO

On November 13, 2025, Coursera appointed Michael Foley as interim Senior Vice President, Chief Financial Officer, and Treasurer, effective November 17, 2025. Foley, with extensive experience in financial and operational roles across technology companies, is expected to guide Coursera’s finance organization during its search for a permanent CFO. His appointment is seen as a strategic move to strengthen Coursera’s leadership team and support its growth and innovation strategy, aiming to enhance customer experiences and drive sustainable growth.

The most recent analyst rating on (COUR) stock is a Hold with a $10.00 price target. To see the full list of analyst forecasts on Coursera stock, see the COUR Stock Forecast page.