Stride (NYSE:LRN) Price Target Raised to $175.00 at Canaccord Genuity Group

Stride (NYSE:LRN) had its price objective hoisted by equities researchers at Canaccord Genuity Group from $165.00 to $175.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target indicates a potential upside of 15.23% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Weiss Ratings restated a “buy (b)” rating on shares of Stride in a research report on Wednesday, October 8th. Morgan Stanley raised their price objective on shares of Stride from $148.00 to $159.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 6th. Barrington Research restated an “outperform” rating and set a $185.00 price objective on shares of Stride in a research report on Tuesday, September 23rd. Finally, Wall Street Zen downgraded shares of Stride from a “buy” rating to a “hold” rating in a research report on Saturday, October 4th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $150.40.

Stride Trading Down 0.4%

Shares of NYSE:LRN opened at $151.87 on Friday. Stride has a 52-week low of $87.81 and a 52-week high of $171.17. The company has a market capitalization of $6.63 billion, a P/E ratio of 25.23, a price-to-earnings-growth ratio of 0.87 and a beta of 0.07. The company has a 50-day simple moving average of $152.69 and a 200 day simple moving average of $146.02. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.27 and a current ratio of 5.39.

Stride (NYSE:LRN) last issued its earnings results on Tuesday, August 5th. The company reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.46. Stride had a net margin of 11.97% and a return on equity of 25.51%. The business had revenue of $653.65 million during the quarter, compared to the consensus estimate of $626.23 million. During the same period last year, the business posted $1.42 EPS. Stride’s revenue was up 22.4% on a year-over-year basis. Sell-side analysts forecast that Stride will post 6.67 earnings per share for the current year.

Insider Buying and Selling at Stride

In other news, CEO James Jeaho Rhyu sold 13,961 shares of Stride stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $162.66, for a total value of $2,270,896.26. Following the completion of the sale, the chief executive officer directly owned 706,353 shares in the company, valued at approximately $114,895,378.98. The trade was a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Stride

Hedge funds and other institutional investors have recently made changes to their positions in the business. Newbridge Financial Services Group Inc. acquired a new stake in shares of Stride in the second quarter valued at approximately $25,000. Larson Financial Group LLC raised its position in shares of Stride by 333.3% in the first quarter. Larson Financial Group LLC now owns 208 shares of the company’s stock valued at $26,000 after buying an additional 160 shares in the last quarter. Financial Management Professionals Inc. acquired a new stake in shares of Stride in the third quarter valued at approximately $26,000. Penserra Capital Management LLC acquired a new stake in shares of Stride in the second quarter valued at approximately $27,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of Stride by 78.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 193 shares of the company’s stock valued at $28,000 after buying an additional 85 shares in the last quarter. 98.24% of the stock is currently owned by institutional investors and hedge funds.

About Stride

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.