Coursera sets $500M share repurchase program
May 18, 1:35 PM
COUR
- Coursera's board of directors approved a share buyback program allowing the repurchase of up to $500 million of its common stock.
- There is no set expiration timeline for the buyback program, providing the company flexibility.
- The repurchases will be financed through Coursera's current cash reserves and operational cash flow.
- Following the announcement, Coursera's share price increased by 5.3%.
Recommendation Rating: Positive
Coursera (COUR) recently announced that its board of directors has approved a share buyback program, allowing the company to repurchase up to $500 million of its common stock. Notably, this program does not come with a set expiration timeline. The company plans to finance these repurchases using its current cash reserves and the cash generated from its operations. Following this announcement, Coursera's share price saw an increase of 5.3%.