BMO Capital Markets Increases Stride (NYSE:LRN) Price Target to $88.00

Stride (NYSE:LRN) had its price objective hoisted by BMO Capital Markets from $84.00 to $88.00 in a report released on Thursday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other analysts have also weighed in on the company. Canaccord Genuity Group upped their price objective on Stride from $94.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Citigroup lowered shares of Stride from a “buy” rating to a “neutral” rating and raised their price objective for the company from $77.00 to $90.00 in a research report on Tuesday, August 20th. Canaccord Genuity Group assumed coverage on shares of Stride in a report on Thursday, August 8th. They issued a “buy” rating and a $94.00 target price on the stock. StockNews.com lowered shares of Stride from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Finally, Barrington Research lifted their price target on shares of Stride from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $89.50.

Stride Stock Down 1.2 %

LRN stock opened at $91.25 on Thursday. The firm’s 50-day moving average is $79.68 and its two-hundred day moving average is $73.18. The company has a market capitalization of $3.95 billion, a price-to-earnings ratio of 21.42, a price-to-earnings-growth ratio of 0.64 and a beta of 0.26. Stride has a 52 week low of $51.75 and a 52 week high of $92.75. The company has a current ratio of 5.10, a quick ratio of 4.95 and a debt-to-equity ratio of 0.38.

Stride (NYSE:LRN) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.72. The business had revenue of $551.08 million for the quarter, compared to analyst estimates of $504.29 million. Stride had a net margin of 11.38% and a return on equity of 21.76%. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter last year, the business earned $0.11 earnings per share. On average, analysts forecast that Stride will post 5.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Stride

Large investors have recently made changes to their positions in the company. SummerHaven Investment Management LLC grew its position in Stride by 1.1% during the 2nd quarter. SummerHaven Investment Management LLC now owns 20,454 shares of the company’s stock worth $1,442,000 after purchasing an additional 217 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Stride by 1.9% during the second quarter. Arizona State Retirement System now owns 11,536 shares of the company’s stock valued at $813,000 after buying an additional 220 shares in the last quarter. Isthmus Partners LLC raised its position in Stride by 4.8% during the second quarter. Isthmus Partners LLC now owns 4,814 shares of the company’s stock valued at $339,000 after buying an additional 222 shares during the period. Sei Investments Co. lifted its stake in Stride by 0.6% in the 2nd quarter. Sei Investments Co. now owns 40,210 shares of the company’s stock worth $2,834,000 after acquiring an additional 242 shares in the last quarter. Finally, New York State Teachers Retirement System lifted its stake in Stride by 1.6% in the 3rd quarter. New York State Teachers Retirement System now owns 22,523 shares of the company’s stock worth $1,921,000 after acquiring an additional 344 shares in the last quarter. Institutional investors and hedge funds own 98.24% of the company’s stock.

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.