Why Are Coursera Shares Surging Today?

BurgerFi International

BurgerFi International, Inc. Warrant

U.S. stocks traded higher toward the end of trading, with the S&P 500 gaining more than 1% on Friday.

The Dow traded up 1.66% to 40,598.17 while the NASDAQ rose 1.07% to 17,365.04. The S&P 500 also rose, gaining, 1.17% to 5,462.66.

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Leading and Lagging Sectors

Industrials shares jumped by 2% on Wednesday.

In trading on Wednesday, energy shares rose by just 0.6%.

Top Headline

3M Company shares jumped around 21% on Friday after the company posted better-than-expected second-quarter financial results and raised its FY24 EPS outlook.

The company reported second-quarter net sales of $6.255 billion, a slight decline of 0.5% year-over-year. Adjusted net sales totaled $6.019 billion, up 1.1% YoY, beating the consensus of $5.878 billion. Adjusted EPS was $1.93, up from $1.39 in the prior-year quarter, beating the consensus of $1.68.

For fiscal 2024, 3M continues to see adjusted total sales growth of (0.25%) to +1.75% and, on an organic basis, flat to +2%. MMM now expects adjusted EPS of $7.00 – $7.30 (prior $6.80 – $7.30) versus the $7.17 consensus.

Equities Trading UP

Windtree Therapeutics, Inc. shares shot up 107% to $6.85 after the company filed a request for the withdrawal of its registration statement on a Form S-1.
Shares of BurgerFi International, Inc. got a boost, surging 144% to $0.5191 after the company announced it reached a legal settlement agreement with Lion Point Capital. The company agreed to pay $1,350,000 and issue Lion Point 300,000 of preferred stock.
Coursera, Inc. shares were also up, gaining 45% to $10.77 after the company beat second-quarter earnings estimates.

Equities Trading DOWN

NovaBay Pharmaceuticals, Inc. shares dropped 64% to $0.70 after the company reported pricing of $3.5 million underwritten public offering.
Shares of DexCom, Inc. were down 42% to $62.50 after the company reported worse-than-expected second-quarter revenue results and issued weak FY24 revenue guidance.
Nature’s Miracle Holding Inc was down, falling 47% to $0.2087 after the company announced pricing of $1.2 million public offering.

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Commodities

In commodity news, oil traded down 1.1% to $77.41 while gold traded up 1.2% at $2,381.50.

Silver traded up 0.1% to $28.00 on Friday, while copper fell 0.3% to $4.1145.

Euro zone

European shares were higher today. The eurozone's STOXX 600 gained 0.83%, Germany's DAX rose 0.65% and France's CAC 40 rose 1.22%. Spain's IBEX 35 Index rose 0.18%, while London's FTSE 100 rose 1.21%.

Median expectations for inflation over the next 12 months for the Eurozone came in unchanged at 2.8% for June. Spanish unemployment rate declined to 11.27% during the second quarter. The consumer confidence indicator in France climbed to 90.8 in July compared to a revised reading of 89.7 in the prior month.

Asia Pacific Markets

Asian markets closed mostly higher on Friday, with Japan's Nikkei 225 falling 0.53%, Hong Kong's Hang Seng Index gaining 0.1%, China's Shanghai Composite Index gaining 0.14% and India's S&P BSE Sensex jumping 1.62%.

Foreign exchange reserves held by the Reserve Bank of India rose to $670.9 billion as of July 19. The index of coincident economic indicators in Japan rose to 117.1 in May versus a flash reading of 116.5.

Economics

The headline Personal Consumption Expenditure (PCE) price index fell to 2.5% year-on-year in June, as expected.
Personal spending in the U.S. rose 0.3% from the prior month in June, while personal income increased by 0.2% to $23.948 trillion in June.
The University of Michigan consumer sentiment was revised higher to 66.4 in July compared to a preliminary level of 66.
The total number of active U.S. oil rigs climbed by 5 to 482 rigs this week, Baker Hughes Inc reported

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Risk Warnings and Disclaimers

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Cantor Fitzgerald Just Raised Its Price Target on Coursera (COUR) Stock

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Shares of Coursera are surging higher by over 45% after the online educational provider reported its second quarter earnings.

Coursera’s revenue tallied in at $170.3 million, up by 11% year-over-year and beating the analyst estimate for $164.7 million. Its adjusted EPS of nine cents also topped the estimate for one cent.

CEO Jeff Maggioncalda highlighted the positive effects of AI, adding that the company’s generative AI catalog has surpassed two million enrollments.

“With our global scale, trusted brands, and focus on high-quality credentials, we are creating a leading destination for learners looking to discover, develop, and demonstrate generative AI skills for career advancement,” said Maggioncalda.

The positive report was well needed for Coursera, as COUR was down by about 63% year-to-date as of yesterday. That decline has since eased to about 44%.

Still, guidance wasn’t as promising. The company guided for third quarter revenue between $171 and $175 million, short of the estimate for $179 million. It reiterated its 2024 full year revenue for between $695 and $705 million. Analysts currently expect $700 million.

COUR Stock: Cantor Fitzgerald Raises Price Target to $22

Following the news, Cantor Fitzgerald analyst Brett Knoblauch raised his price target to $22 from $21. His target is based on a 4x multiple of expected 2025 enterprise value (EV)/sales, lower than the average peer multiple at 4.3x.

Knoblauch continues to believe that Coursera will be able to disrupt the traditional education system. While he left his 2024 revenue estimate “relatively unchanged,” he raised his 2025 revenue estimate by 1.1% and his 2024 and 2025 adjusted EBITDA estimates by 0.2% and 1.2%, respectively. This was largely due to the company’s better than expected demand for its AI offerings.

“With shares trading at a discount to peers, a cash balance of $721m, and no debt, we remain of the opinion that upside far outweighs downside at current levels,” said the analyst.

However, not all of Wall Street was sold. Goldman Sachs analyst Eric Sheridan lowered his target to $9 from $10.50, citing uncertainty about how enterprises will use generative AI and the role that Coursera could play in that process.

On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.

Eddie Pan specializes in institutional investments and insider activity. He writes for InvestorPlace’s Today’s Market team, which centers on the latest news involving popular stocks.

Why Saia Shares Are Trading Lower? Here Are Other Stocks Moving In Friday's Mid-Day Session

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Saia

+0.40%

BurgerFi International

BurgerFi International, Inc. Warrant

Windtree Therapeutics

Regencell Bioscience

-1.48%

Shares of Saia, Inc. fell sharply during Friday's session after the company reported worse-than-expected second-quarter financial results.

Saia reported quarterly earnings of $3.83 per share which missed the analyst consensus estimate of $4.00 per share. The company reported quarterly sales of $823.24 million which missed the analyst consensus estimate of $826.55 million, according to data from Benzinga Pro.

Saia shares dipped 18.6% to $398.01 on Friday.

Here are some other stocks moving in today’s mid-day session.

Gainers

BurgerFi International, Inc. gained 117.4% to $0.4639 after the company announced it reached a legal settlement agreement with Lion Point Capital. The company agreed to pay $1,350,000 and issue Lion Point 300,000 of preferred stock.
Windtree Therapeutics, Inc. shares jumped 101.3% to $6.67 after the company filed a request for the withdrawal of its registration statement on a Form S-1.
Regencell Bioscience Holdings Limited gained 53% to $13.94.
Coursera, Inc. shares gained 46.2% to $10.83 after the company beat second-quarter earnings estimates.
Carbon Revolution Public Limited Company shares climbed 43.3% to $8.84. Carbon Revolution said it will supply the carbon fiber wheels available on the just-revealed Chevrolet Corvette ZR1.
Everi Holdings Inc. rose 41.1% to $12.93 after it entered an agreement to be acquired by funds managed by Apollo affiliates for $14.25 per share in cash.
Nauticus Robotics, Inc. K gained 37% to $4.45.
Newell Brands Inc. jumped 36.6% to $8.66 on better-than-expected second-quarter earnings and raising FY24 outlook.
Sangamo Therapeutics, Inc. gained 35% to $0.9043.
CEL-SCI Corporation rose 28% to $1.55 after the company announced results from a bias analysis conducted for its concluded Phase 3 study of Multikine. Multikine cut the 5-year risk of death by half compared to control in its target population.
AudioEye, Inc. rose 25% to $24.52 following second-quarter results.
Pineapple Financial Inc. gained 24.4% to $1.1760. Pineapple Financial CSO Christa Lillian Mitchell bought a total of 2,000 shares at an average price of $0.88.
Douglas Elliman Inc. climbed 23% to $1.66.
CareMax, Inc. rose 19% to $6.71.
Liberty Broadband Corporation rose 17.6% to $65.16.
Charter Communications, Inc. jumped 17% to $368.65 after the company reported better-than-expected second-quarter financial results.
Mohawk Industries, Inc. gained 16.5% to $156.70 following mixed second-quarter earnings.
Karooooo Ltd gained 16% to $33.40. Karooooo announced termination of secondary public offering of ordinary shares due to market conditions.
3M Company climbed 15% to $118.99 after better-than-expected second-quarter financial results and FY24 EPS outlook raise.
International Game Technology PLC gained 13.4% to $22.86 after the company entered an agreement for its Gaming & Digital business to be acquired by funds managed by affiliates of Apollo.
Altice USA, Inc. rose 12.1% to $1.76.
Stardust Power Inc. S rose 11% to $15.06.
Avantor, Inc. surged 11% to $25.32 after the company reported better-than-expected second-quarter earnings results.
Norfolk Southern Corporation gained 10.7% to $246.86 after the company reported better-than-expected second-quarter earnings results.
Selina Hospitality PLC shares gained 10.4% to $0.0415 after falling over 17% on Thursday.
Viasat, Inc. rose 9% to $20.58. Viasat announced new reporting segment structure.
Deckers Outdoor Corporation shares gained 8.7% to $914.71 as the company reported better-than-expected results for the first quarter. The company said it still expects net sales to increase approximately 10% year-over-year in fiscal year 2025 to $4.7 billion.
Bristol-Myers Squibb Company climbed 7.6% to $48.69 following strong second-quarter earnings and increased 2024 guidance.
Centene Corporation climbed 7.6% to $72.55 following better-than-expected second-quarter financial results and increased 2024 guidance.
Columbia Banking System, Inc. rose 7.4% to $25.98 after the company reported better-than-expected quarterly earnings results. Also, multiple firms raised their respective price targets on its stock.
Aon plc gained 6.8% to $319.30 after the company reported better-than-expected quarterly revenue results.
Ultra Clean Holdings, Inc. shares gained 4.7% to $47.26 following better-than-expected quarterly results.

Losers

NovaBay Pharmaceuticals, Inc. shares dipped 59.6% to $0.7830 after the company reported pricing of $3.5 million underwritten public offering.
Tantech Holdings Ltd fell 46.9% to $0.2603.
Nature’s Miracle Holding Inc fell 46.4% to $0.2099 after the company announced pricing of $1.2 million public offering.
DexCom, Inc. shares declined 40.7% to $63.97 after the company reported worse-than-expected second-quarter revenue results and issued weak FY24 revenue guidance.
Predictive Oncology Inc. fell 29.6% to $1.3150. Predictive Oncology announced exercise of warrants for $1.26 million gross proceeds.
ProMIS Neurosciences, Inc. declined 29.2% to $1.5006 as the company reported top-line data from its Phase 1a Alzheimer’s trial and announced up to $122.7 million private placement financing.
PS International Group Ltd. P dipped 26.1% to $1.53
Grom Social Enterprises, Inc. fell 23.8% to $0.2751.
Ocean Power Technologies, Inc. shares declined 23.2% to $0.3188 after reporting fourth-quarter results.
Avinger, Inc. fell 20.2% to $1.30.
Next Technology Holding Inc. declined 20.1% to $1.6299.
Zynex, Inc. shares fell 18.9% to $8.27 after the company reported worse-than-expected second-quarter financial results.
2U, Inc. declined 17.6% to $1.24.
Ur-Energy Inc. shares dipped 13.4% to $1.1250 after the company announced a proposed public offering of common shares.
BJ’s Restaurants, Inc. fell 12.6% to $32.53 following quarterly results.
Booz Allen Hamilton Holding Corporation declined 11.8% to $135.36 following a first-quarter earnings miss and soft EPS guidance.
Advent Technologies Holdings, Inc. shares fell 11.2% to $4.40 after gaining 3% on Thursday.
Tarsus Pharmaceuticals, Inc. fell 9.1% to $25.67.
World Acceptance Corporation dipped 7.8% to $134.62 following weak quarterly sales.
Forward Air Corporation fell 7.4% to $25.61.
Olin Corporation shares declined 7.2% to $44.56 following a second-quarter earnings miss.
Carter’s, Inc. shares fell 6.6% to $55.87 following weak quarterly sales.
Biogen Inc. declined 6.3% to $213.01 after the European Medicines Agency adopted a negative opinion on the Marketing Authorization Approval for lecanemab.
Tandem Diabetes Care, Inc. shares fell 6% to $38.18. Tandem Diabetes Care will release its second quarter results after the closing bell on Thursday, Aug. 1.
L3Harris Technologies, Inc. declined 4.6% to $232.05 following second-quarter results.

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Coursera Is Maintained at Overweight by Cantor Fitzgerald

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Coursera Is Maintained at Outperform by BMO Capital

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Crude Oil Down Over 2%; Bristol Myers Squibb Posts Upbeat Q2 Results

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Bristol-Myers Squibb

+2.36%

Windtree Therapeutics

BurgerFi International

BurgerFi International, Inc. Warrant