Stride (NYSE:LRN) Sets New 52-Week High After Better-Than-Expected Earnings

Shares of Stride, Inc. (NYSE:LRN) hit a new 52-week high on Tuesday following a stronger than expected earnings report. The stock traded as high as $120.86 and last traded at $118.96, with a volume of 960216 shares. The stock had previously closed at $119.38.

The company reported $2.03 earnings per share for the quarter, topping the consensus estimate of $1.92 by $0.11. Stride had a net margin of 11.38% and a return on equity of 21.23%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on LRN. StockNews.com downgraded shares of Stride from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Citigroup boosted their target price on Stride from $90.00 to $94.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Morgan Stanley raised their price target on Stride from $94.00 to $109.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. BMO Capital Markets upped their price objective on Stride from $84.00 to $88.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Barrington Research raised their target price on Stride from $130.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday. Three 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, Stride has a consensus rating of “Moderate Buy” and a consensus target price of $109.17.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. R Squared Ltd acquired a new stake in shares of Stride during the 4th quarter worth about $37,000. Mendota Financial Group LLC purchased a new position in Stride in the third quarter valued at approximately $86,000. KBC Group NV lifted its stake in shares of Stride by 68.5% during the fourth quarter. KBC Group NV now owns 1,891 shares of the company’s stock worth $197,000 after purchasing an additional 769 shares in the last quarter. TD Private Client Wealth LLC boosted its stake in shares of Stride by 27.7% in the third 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 during the period. Finally, Sheets Smith Wealth Management acquired a new stake in Stride during the 4th quarter valued at approximately $205,000. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Stride Stock Performance

The company’s fifty day simple moving average is $109.33 and its two-hundred day simple moving average is $91.54. The company has a market capitalization of $5.59 billion, a price-to-earnings ratio of 23.30, a price-to-earnings-growth ratio of 0.88 and a beta of 0.32. The company has a debt-to-equity ratio of 0.38, a quick ratio of 5.50 and a current ratio of 5.60.

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.