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

Shares of Stride, Inc. (NYSE:LRN) have received an average recommendation of “Hold” from the seven research firms that are covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $125.75.

A number of analysts have commented on the stock. Barrington Research reaffirmed an “outperform” rating and set a $125.00 target price on shares of Stride in a report on Wednesday. BMO Capital Markets set a $108.00 price objective on shares of Stride and gave the company a “market perform” rating in a research report on Wednesday, October 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Stride in a report on Monday, December 29th. Zacks Research downgraded Stride from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 30th. Finally, Canaccord Genuity Group boosted their price target on Stride from $165.00 to $175.00 and gave the company a “buy” rating in a report on Friday, October 24th.

Stride Stock Up 1.8%

LRN stock opened at $72.87 on Friday. The company has a market cap of $3.20 billion, a price-to-earnings ratio of 11.25, a P/E/G ratio of 0.43 and a beta of 0.06. The company has a debt-to-equity ratio of 0.32, a quick ratio of 6.69 and a current ratio of 6.78. The business’s 50-day moving average is $65.76 and its two-hundred day moving average is $112.33. Stride has a fifty-two week low of $60.61 and a fifty-two week high of $171.17.

Stride (NYSE:LRN) last released its quarterly earnings results 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 the consensus estimate of $615.50 million. During the same period in the previous year, the company posted $0.94 EPS. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. As a group, analysts forecast that Stride will post 6.67 earnings per share for the current year.

Institutional Investors Weigh In On Stride

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Stride during the second quarter valued at approximately $92,858,000. Squarepoint Ops LLC raised its position in shares of Stride by 88.6% during the 2nd quarter. Squarepoint Ops LLC now owns 1,086,879 shares of the company’s stock valued at $157,804,000 after purchasing an additional 510,641 shares during the period. SG Americas Securities LLC lifted its stake in shares of Stride by 325.0% during the 4th quarter. SG Americas Securities LLC now owns 556,452 shares of the company’s stock valued at $36,130,000 after buying an additional 425,524 shares in the last quarter. William Blair Investment Management LLC boosted its holdings in Stride by 37.2% in the 3rd quarter. William Blair Investment Management LLC now owns 1,511,080 shares of the company’s stock worth $225,060,000 after buying an additional 410,029 shares during the period. Finally, Divisadero Street Capital Management LP bought a new position in Stride in the 3rd quarter worth $55,852,000. Institutional investors own 98.24% of the company’s stock.

About Stride

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.