Stride, Inc. (NYSE:LRN) Receives $97.50 Average Target Price from Analysts

Shares of Stride, Inc. (NYSE:LRN) have been assigned an average recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $97.50.

LRN has been the topic of a number of recent analyst reports. Citigroup raised their price target on Stride from $90.00 to $94.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Morgan Stanley lifted their target price on Stride from $94.00 to $109.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. BMO Capital Markets upped their price target on Stride from $84.00 to $88.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Canaccord Genuity Group lifted their price objective on shares of Stride from $94.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, StockNews.com downgraded shares of Stride from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd.

Insider Activity

In related news, Director Todd Goldthwaite sold 8,028 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $91.54, for a total value of $734,883.12. Following the sale, the director now owns 85,058 shares in the company, valued at $7,786,209.32. This represents a 8.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.00% of the company’s stock.

Institutional Trading of Stride

Several institutional investors and hedge funds have recently bought and sold shares of the business. B. Riley Wealth Advisors Inc. acquired a new stake in Stride during the 3rd quarter worth about $430,000. Franklin Resources Inc. boosted its stake in shares of Stride by 14.3% in the third quarter. Franklin Resources Inc. now owns 27,816 shares of the company’s stock worth $2,373,000 after buying an additional 3,477 shares during the last quarter. Tidal Investments LLC grew its holdings in Stride by 64.0% during the third quarter. Tidal Investments LLC now owns 8,642 shares of the company’s stock worth $737,000 after acquiring an additional 3,374 shares during the period. Sanctuary Advisors LLC grew its holdings in Stride by 161.9% during the third quarter. Sanctuary Advisors LLC now owns 20,859 shares of the company’s stock worth $1,779,000 after acquiring an additional 12,896 shares during the period. Finally, TD Private Client Wealth LLC raised its position in Stride by 27.7% during the third quarter. TD Private Client Wealth LLC now owns 1,962 shares of the company’s stock valued at $167,000 after acquiring an additional 426 shares in the last quarter. 98.24% of the stock is currently owned by institutional investors and hedge funds.

Stride Stock Performance

Shares of LRN stock opened at $105.21 on Thursday. The company has a quick ratio of 5.50, a current ratio of 5.60 and a debt-to-equity ratio of 0.38. The company has a 50 day moving average price of $97.19 and a 200-day moving average price of $83.13. Stride has a 52 week low of $54.81 and a 52 week high of $112.80. The firm has a market capitalization of $4.59 billion, a PE ratio of 19.13, a P/E/G ratio of 0.80 and a beta of 0.30.

Stride (NYSE:LRN) last posted its earnings results on Tuesday, October 22nd. The company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.72. Stride had a return on equity of 21.23% and a net margin of 11.38%. The company had revenue of $551.08 million for the quarter, compared to the consensus estimate of $504.29 million. During the same quarter in the prior year, the company earned $0.11 earnings per share. Stride’s revenue was up 14.8% on a year-over-year basis. As a group, equities research analysts expect that Stride will post 6.66 earnings per share 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.