Stride, Inc. (NYSE:LRN – Get Free Report) shares gapped up before the market opened on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $120.64, but opened at $127.34. Stride shares last traded at $131.71, with a volume of 391,397 shares trading hands.
The company reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $1.92 by $0.11. Stride had a return on equity of 21.23% and a net margin of 11.38%.
Analyst Ratings Changes
A number of analysts have weighed in on the stock. Barrington Research raised their price objective on shares of Stride from $130.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday. BMO Capital Markets increased their price target on Stride from $122.00 to $134.00 and gave the stock an “outperform” rating in a report on Thursday. StockNews.com downgraded Stride from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Canaccord Genuity Group increased their target price on shares of Stride from $100.00 to $130.00 and gave the company a “buy” rating in a report on Monday. Finally, Citigroup lifted their price target on Stride from $90.00 to $94.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Stride has a consensus rating of “Moderate Buy” and an average target price of $116.83.
Institutional Investors Weigh In On Stride
Several hedge funds have recently made changes to their positions in the business. R Squared Ltd purchased a new stake in Stride during the fourth quarter valued at about $37,000. Mendota Financial Group LLC bought a new position in Stride during the 3rd quarter valued at $86,000. KBC Group NV increased its holdings in Stride by 68.5% in the fourth quarter. KBC Group NV now owns 1,891 shares of the company’s stock valued at $197,000 after buying an additional 769 shares during the last quarter. TD Private Client Wealth LLC increased 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 acquiring an additional 426 shares during the last quarter. Finally, Sheets Smith Wealth Management acquired a new stake in shares of Stride during the fourth quarter worth $205,000. Institutional investors and hedge funds own 98.24% of the company’s stock.
Stride Stock Performance
The company has a market capitalization of $5.84 billion, a price-to-earnings ratio of 24.36, a P/E/G ratio of 0.88 and a beta of 0.32. The stock has a 50 day simple moving average of $109.94 and a 200 day simple moving average of $91.84. The company has a quick ratio of 5.50, a current ratio of 5.60 and a debt-to-equity ratio of 0.38.
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.
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