Stride (NYSE:LRN) PT Raised to $100.00

Stride (NYSE:LRN) had its price target upped by equities research analysts at Canaccord Genuity Group from $94.00 to $100.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price points to a potential upside of 55.06% from the company’s current price.

Several other brokerages have also weighed in on LRN. Canaccord Genuity Group started coverage on Stride in a research note on Thursday, August 8th. They issued a “buy” rating and a $94.00 price target for the company. Citigroup lowered Stride from a “buy” rating to a “neutral” rating and lifted their price target for the company from $77.00 to $90.00 in a research note on Tuesday, August 20th. StockNews.com upgraded Stride from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Barrington Research reiterated an “outperform” rating and set a $90.00 price objective on shares of Stride in a research note on Friday, October 11th. Finally, BMO Capital Markets boosted their price objective on Stride from $79.00 to $82.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $86.83.

Stride Stock Performance

NYSE LRN opened at $64.49 on Wednesday. The stock has a 50-day simple moving average of $79.16 and a two-hundred day simple moving average of $72.54. The firm has a market capitalization of $2.79 billion, a P/E ratio of 15.14, a PEG ratio of 0.74 and a beta of 0.26. Stride has a fifty-two week low of $43.77 and a fifty-two week high of $88.02. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.95 and a current ratio of 5.10.

Stride (NYSE:LRN) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.72. Stride had a return on equity of 19.12% and a net margin of 10.01%. The business had revenue of $551.08 million during the quarter, compared to analyst estimates of $504.29 million. During the same quarter last year, the business posted $0.11 EPS. The company’s revenue was up 14.8% on a year-over-year basis. On average, equities analysts forecast that Stride will post 5.05 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in LRN. Allspring Global Investments Holdings LLC boosted its holdings in shares of Stride by 4.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 29,018 shares of the company’s stock worth $1,830,000 after purchasing an additional 1,287 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Stride by 5.2% in the first quarter. Principal Financial Group Inc. now owns 231,274 shares of the company’s stock valued at $14,582,000 after acquiring an additional 11,495 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Stride by 17.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,262 shares of the company’s stock valued at $1,971,000 after acquiring an additional 4,546 shares during the last quarter. Nordea Investment Management AB lifted its holdings in Stride by 48.9% in the first quarter. Nordea Investment Management AB now owns 105,630 shares of the company’s stock valued at $6,698,000 after acquiring an additional 34,682 shares during the last quarter. Finally, Texas Permanent School Fund Corp lifted its holdings in Stride by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 34,831 shares of the company’s stock valued at $2,196,000 after acquiring an additional 496 shares during the last quarter. 98.24% of the stock is currently owned by institutional investors and hedge funds.

Stride Company Profile

Stride, Inc, a technology-based education service company, engages in the provision of proprietary and third-party online curriculum, software systems, and educational services in the United States and internationally. Its technology-based products and services enable clients to attract, enroll, educate, track progress, support, and facilitate individualized learning for students.