Stride (NYSE:LRN) Sets New 1-Year High After Analyst Upgrade

Stride, Inc. (NYSE:LRN)’s share price hit a new 52-week high on Wednesday after Barrington Research raised their price target on the stock from $150.00 to $170.00. Barrington Research currently has an outperform rating on the stock. Stride traded as high as $148.03 and last traded at $144.07, with a volume of 1472420 shares traded. The stock had previously closed at $142.59.

Other equities research analysts have also issued research reports about the company. Canaccord Genuity Group upped their price target on Stride from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Monday. William Blair reaffirmed an “outperform” rating on shares of Stride in a research note on Wednesday. Finally, BMO Capital Markets increased their price objective on Stride from $134.00 to $139.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 1st. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Stride has an average rating of “Moderate Buy” and an average price target of $126.83.

Hedge Funds Weigh In On Stride

Several institutional investors have recently modified their holdings of LRN. Vanguard Group Inc. grew its holdings in Stride by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 4,673,393 shares of the company’s stock valued at $485,706,000 after purchasing an additional 69,888 shares during the period. William Blair Investment Management LLC grew its holdings in Stride by 18.0% during the fourth quarter. William Blair Investment Management LLC now owns 2,467,019 shares of the company’s stock valued at $256,397,000 after purchasing an additional 375,686 shares during the period. Janus Henderson Group PLC grew its holdings in Stride by 27.6% during the fourth quarter. Janus Henderson Group PLC now owns 1,493,709 shares of the company’s stock valued at $155,251,000 after purchasing an additional 323,275 shares during the period. Congress Asset Management Co. grew its holdings in Stride by 102.2% during the first quarter. Congress Asset Management Co. now owns 1,169,748 shares of the company’s stock valued at $147,973,000 after purchasing an additional 591,208 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Stride by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 970,395 shares of the company’s stock valued at $100,877,000 after purchasing an additional 5,694 shares during the period. 98.24% of the stock is owned by institutional investors.

Stride Trading Down 0.2 %

The firm has a fifty day simple moving average of $130.86 and a two-hundred day simple moving average of $116.35. The firm has a market capitalization of $6.19 billion, a P/E ratio of 23.75, a price-to-earnings-growth ratio of 1.04 and a beta of 0.47. The company has a debt-to-equity ratio of 0.35, a current ratio of 6.02 and a quick ratio of 5.93.

Stride (NYSE:LRN) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $2.02 EPS for the quarter, missing analysts’ consensus estimates of $2.09 by ($0.07). The company had revenue of $613.38 million during the quarter, compared to the consensus estimate of $591.15 million. Stride had a return on equity of 22.42% and a net margin of 12.30%. Stride’s revenue was up 17.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.60 earnings per share. On average, equities research analysts anticipate that Stride, Inc. will post 6.67 earnings per share for the current fiscal 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.