Shares of Stride, Inc. (NYSE:LRN – Get Free Report) hit a new 52-week high during mid-day trading on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $120.86 and last traded at $118.96, with a volume of 960216 shares trading hands. The stock had previously closed at $119.38.
The company reported $2.03 earnings per share for the quarter, beating the consensus estimate of $1.92 by $0.11. Stride had a return on equity of 21.23% and a net margin of 11.38%.
Analysts Set New Price Targets
A number of research firms recently weighed in on LRN. StockNews.com lowered shares of Stride from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Canaccord Genuity Group boosted their target price on Stride from $100.00 to $130.00 and gave the stock a “buy” rating in a report on Monday. Citigroup lifted their price target on Stride from $90.00 to $94.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Morgan Stanley upped their price objective on Stride from $94.00 to $109.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Finally, BMO Capital Markets raised their target price on Stride from $84.00 to $88.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $107.50.
Hedge Funds Weigh In On Stride
Several institutional investors have recently bought and sold shares of the company. R Squared Ltd acquired a new stake in shares of Stride in the fourth quarter valued at $37,000. Mendota Financial Group LLC acquired a new position in Stride during the 3rd quarter worth approximately $86,000. TD Private Client Wealth LLC raised its holdings in shares of Stride by 27.7% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,962 shares of the company’s stock valued at $167,000 after purchasing an additional 426 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Stride by 45.3% during the 3rd 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. Finally, Central Pacific Bank Trust Division increased its holdings in Stride by 24.2% in the third quarter. Central Pacific Bank Trust Division now owns 2,153 shares of the company’s stock valued at $184,000 after buying an additional 420 shares during the last quarter. 98.24% of the stock is owned by institutional investors and hedge funds.
Stride Stock Performance
The company has a market capitalization of $5.25 billion, a price-to-earnings ratio of 21.91, a PEG ratio of 0.88 and a beta of 0.32. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.60 and a quick ratio of 5.50. The stock has a 50 day simple moving average of $108.82 and a two-hundred day simple moving average of $91.29.
Stride Company Profile
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.
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