Stride, Inc. (NYSE:LRN) Receives Average Rating of “Hold” from Brokerages

Stride, Inc. (NYSE:LRN) has been given a consensus rating of “Hold” by the seven brokerages that are presently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $125.75.

A number of brokerages recently issued reports on LRN. Canaccord Genuity Group upped their price target on shares of Stride from $165.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, October 24th. Barrington Research reiterated an “outperform” rating and issued a $125.00 target price on shares of Stride in a research note on Wednesday. Wall Street Zen upgraded shares of Stride from a “hold” rating to a “buy” rating in a report on Monday, January 5th. Morgan Stanley decreased their price objective on shares of Stride from $130.00 to $95.00 and set an “equal weight” rating for the company in a report on Wednesday, December 17th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Stride in a research note on Monday, December 29th.

Stride Stock Performance

Stride stock opened at $72.87 on Friday. Stride has a twelve month low of $60.61 and a twelve month high of $171.17. The company has a quick ratio of 6.69, a current ratio of 6.78 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $3.20 billion, a P/E ratio of 11.25, a PEG ratio of 0.43 and a beta of 0.06. The stock’s 50 day moving average is $65.76 and its 200 day moving average is $112.33.

Stride (NYSE:LRN) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.29. Stride had a return on equity of 26.29% and a net margin of 12.76%.The business had revenue of $620.88 million during the quarter, compared to analysts’ expectations of $615.50 million. During the same quarter in the previous year, the business earned $0.94 earnings per share. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. On average, equities research analysts predict that Stride will post 6.67 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Stride

Large investors have recently bought and sold shares of the business. Invesco Ltd. boosted its holdings in shares of Stride by 1.3% during the 3rd quarter. Invesco Ltd. now owns 1,805,508 shares of the company’s stock valued at $268,912,000 after acquiring an additional 23,488 shares during the last quarter. William Blair Investment Management LLC lifted its position in Stride by 37.2% during the third quarter. William Blair Investment Management LLC now owns 1,511,080 shares of the company’s stock valued at $225,060,000 after purchasing an additional 410,029 shares during the period. Squarepoint Ops LLC boosted its holdings in Stride by 88.6% in the second quarter. Squarepoint Ops LLC now owns 1,086,879 shares of the company’s stock worth $157,804,000 after purchasing an additional 510,641 shares during the last quarter. Geode Capital Management LLC grew its position in Stride by 2.4% in the 2nd quarter. Geode Capital Management LLC now owns 1,045,904 shares of the company’s stock worth $151,873,000 after purchasing an additional 24,889 shares during the period. Finally, Norges Bank purchased a new stake in Stride during the 2nd quarter valued at $92,858,000. 98.24% of the stock is currently owned by institutional investors.

Stride Company Profile

Stride, Inc (NYSE:LRN) is a technology-driven education company that designs and delivers online learning solutions for students and adult learners. Through long-term partnerships with state-authorized public school districts, Stride operates virtual academies that serve K-12 students across the United States. The company’s blended-learning model combines digital curriculum, live teaching support and data analytics to personalize instruction and monitor student progress.

In addition to its K-12 offerings, Stride provides a portfolio of career and workforce readiness programs under its Stride Career Prep division.