Stride, Inc. (NYSE:LRN) Stock Rated "Hold" by Wall Street Brokerages

Key Points

• Stride has a consensus “Hold” rating from seven analysts: five holds and two buys, with an average 12-month price target of $106.25.
• Institutional investors own approximately 98.24% of the company, with several funds recently initiating or increasing positions, including Janus Henderson, which raised its holdings by 61%.
• Stride’s latest quarterly results exceeded expectations, reporting $1.37 in EPS versus the $1.07 estimate and revenue of $639.38 million. Shares opened at $79.58, down 1.4%, and remain well below their 12-month high of $155.06.

Shares of Stride, Inc. (NYSE:LRN - Get Free Report) have been assigned a consensus rating of "Hold" from the seven brokerages that are presently covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $106.25.

LRN has been the topic of a number of analyst reports. BMO Capital Markets lowered their price objective on Stride from $93.00 to $90.00 and set a "market perform" rating on the stock in a research report on Monday, October 5th. Weiss Ratings upgraded Stride from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, October 16th. William Blair lowered Stride from an "outperform" rating to a "market perform" rating in a research note on Thursday, July 30th. Finally, Barrington Research decreased their price objective on Stride from $125.00 to $115.00 and set an "outperform" rating for the company in a report on Friday.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Stride in the second quarter valued at about $2,485,000. Janus Henderson Group PLC boosted its holdings in Stride by 61.0% in the first quarter. Janus Henderson Group PLC now owns 2,277,279 shares of the company's stock worth $200,799,000 after acquiring an additional 862,849 shares in the last quarter. JB Capital Partners LP acquired a new position in shares of Stride during the second quarter valued at about $3,018,400. Kendall Capital Management acquired a new position in shares of Stride during the second quarter valued at about $2,294,000. Finally, Bank of America Corp DE purchased a new stake in Stride during the 2nd quarter worth approximately $49,350,000. 98.24% of the stock is currently owned by hedge funds and other institutional investors.

Stride Trading Down 1.4%

NYSE LRN opened at $79.58 on Friday. The stock has a market cap of $3.35 billion, a P/E ratio of 10.98, a P/E/G ratio of 0.46 and a beta of 0.14. The company has a current ratio of 2.56, a quick ratio of 5.81 and a debt-to-equity ratio of 0.06. The stock's fifty day moving average price is $81.92 and its 200-day moving average price is $87.06. Stride has a 12 month low of $60.61 and a 12 month high of $155.06.

Stride (NYSE:LRN - Get Free Report) last posted its quarterly earnings results on Tuesday, October 20th. The company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.30. Stride had a return on equity of 22.06% and a net margin of 13.18%. The firm had revenue of $639.38 million during the quarter, compared to analysts' expectations of $612.25 million. During the same quarter in the previous year, the business earned $1.40 earnings per share. The company's revenue was up 3.0% on a year-over-year basis. As a group, equities analysts forecast that Stride will post 8.80 EPS for the current fiscal year.

About Stride

Stride, Inc is an education technology company that provides online and blended learning programs for K-12 students. The company partners with public school districts, charter schools and other education organizations to deliver digital curricula, instructional software, teaching support and student services. Its offerings are designed to support full-time virtual schools, supplemental courses and traditional schools incorporating online learning.

Stride also provides career-focused education through programs that combine academic instruction with career exploration, technical training and industry-aligned learning opportunities.

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