Stride, Inc. (NYSE:LRN) Given Consensus Recommendation of “Moderate Buy” by Analysts

Stride, Inc. (NYSE:LRN) has received an average rating of “Moderate Buy” from the seven analysts that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $90.17.

A number of research analysts have commented on LRN shares. Citigroup increased their target price on Stride from $90.00 to $94.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Canaccord Genuity Group started coverage on Stride in a report on Thursday, August 8th. They set a “buy” rating and a $94.00 target price on the stock. BMO Capital Markets increased their target price on Stride from $84.00 to $88.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. StockNews.com downgraded Stride from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Finally, Canaccord Genuity Group raised their price target on Stride from $94.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd.

Stride Price Performance

LRN stock opened at $107.04 on Friday. Stride has a 1 year low of $54.81 and a 1 year high of $108.48. The stock has a 50-day simple moving average of $88.24 and a 200-day simple moving average of $78.78. The company has a debt-to-equity ratio of 0.38, a quick ratio of 5.50 and a current ratio of 5.60. The firm has a market cap of $4.67 billion, a P/E ratio of 19.46, a price-to-earnings-growth ratio of 0.80 and a beta of 0.27.

Stride (NYSE:LRN) last issued its quarterly earnings data 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 firm had revenue of $551.08 million during the quarter, compared to analyst estimates of $504.29 million. During the same quarter last year, the firm earned $0.11 EPS. Stride’s quarterly revenue was up 14.8% on a year-over-year basis. On average, equities analysts predict that Stride will post 6.66 earnings per share for the current fiscal year.

Insider Buying and Selling at Stride

In other news, Director Todd Goldthwaite sold 8,028 shares of Stride stock in a transaction on Friday, October 25th. The stock was sold at an average price of $91.54, for a total transaction of $734,883.12. Following the transaction, the director now directly owns 85,058 shares in the company, valued at approximately $7,786,209.32. This trade represents a 8.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Stride

Several hedge funds have recently modified their holdings of LRN. Swedbank AB acquired a new position in shares of Stride during the 1st quarter valued at $60,385,000. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Stride during the second quarter worth $43,387,000. Congress Asset Management Co. acquired a new stake in shares of Stride during the third quarter worth $45,616,000. Victory Capital Management Inc. raised its position in shares of Stride by 1,443.6% during the second quarter. Victory Capital Management Inc. now owns 479,941 shares of the company’s stock worth $33,836,000 after purchasing an additional 448,849 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Stride by 641.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 508,444 shares of the company’s stock worth $32,058,000 after purchasing an additional 439,911 shares during the period. 98.24% of the stock is currently owned by institutional investors and hedge funds.

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.