Stride (NYSE:LRN) Reaches New 1-Year High on Analyst Upgrade

Shares of Stride, Inc. (NYSE:LRN) hit a new 52-week high during mid-day trading on Thursday after BMO Capital Markets raised their price target on the stock from $84.00 to $88.00. BMO Capital Markets currently has an outperform rating on the stock. Stride traded as high as $90.29 and last traded at $90.14, with a volume of 63092 shares traded. The stock had previously closed at $89.71.

LRN has been the subject of a number of other reports. Canaccord Genuity Group increased their target price on Stride from $94.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday. Citigroup downgraded 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 note on Tuesday, August 20th. Barrington Research raised their price objective on Stride from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday. StockNews.com downgraded Stride from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Canaccord Genuity Group began coverage on Stride in a research note on Thursday, August 8th. They issued a “buy” rating and a $94.00 price objective for the company. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $89.50.

Institutional Investors Weigh In On Stride

Large investors have recently bought and sold shares of the stock. Mendota Financial Group LLC acquired a new stake in Stride during the 3rd quarter valued at $86,000. nVerses Capital LLC acquired a new stake in Stride during the 2nd quarter valued at $78,000. Motco acquired a new stake in Stride during the 1st quarter valued at $74,000. EntryPoint Capital LLC acquired a new stake in shares of Stride during the first quarter worth $77,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Stride by 45.3% during the third quarter. GAMMA Investing LLC now owns 2,061 shares of the company’s stock worth $176,000 after purchasing an additional 643 shares during the last quarter. Institutional investors and hedge funds own 98.24% of the company’s stock.

Stride Stock Up 2.9 %

The firm has a fifty day moving average price of $79.51 and a 200-day moving average price of $72.80. The company has a quick ratio of 4.95, a current ratio of 5.10 and a debt-to-equity ratio of 0.38. The firm has a market cap of $3.99 billion, a price-to-earnings ratio of 21.66, a PEG ratio of 0.74 and a beta of 0.26.

Stride (NYSE:LRN) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $504.29 million. During the same quarter last year, the firm earned $0.11 earnings per share. The business’s revenue was up 14.8% on a year-over-year basis. As a group, sell-side analysts forecast that Stride, Inc. will post 5.05 EPS for the current year.

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.