Stride, Inc. (NYSE:LRN) Receives $143.40 Average PT from Brokerages

Key Points

• Stride, Inc. has received a consensus rating of "Moderate Buy" from six brokerages, with an average 1-year price target of $143.40.
• The company reported a 22.4% increase in revenue year-over-year, with earnings per share of $2.29 surpassing the consensus estimate of $1.83.
• Institutional investors own approximately 98.24% of Stride's stock, demonstrating significant institutional confidence in the company.

Stride, Inc. (NYSE:LRN - Get Free Report) has been given a consensus rating of "Moderate Buy" by the six research firms that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $146.40.

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley upped their price objective on shares of Stride from $148.00 to $159.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. BMO Capital Markets reissued an "outperform" rating on shares of Stride in a research report on Thursday, May 1st. Barrington Research increased their price target on shares of Stride from $170.00 to $185.00 and gave the company an "outperform" rating in a research report on Friday. Finally, Wall Street Zen cut shares of Stride from a "buy" rating to a "hold" rating in a research report on Friday, August 22nd.

Stride Price Performance

LRN stock traded down $2.63 during midday trading on Tuesday, reaching $163.03. The company had a trading volume of 634,081 shares, compared to its average volume of 772,477. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.39 and a quick ratio of 5.27. Stride has a 1 year low of $63.25 and a 1 year high of $171.17. The company has a market capitalization of $7.11 billion, a P/E ratio of 27.08, a P/E/G ratio of 0.99 and a beta of 0.10. The firm has a 50-day moving average price of $143.82 and a 200-day moving average price of $140.77.

Stride (NYSE:LRN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $2.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.83 by $0.46. Stride had a net margin of 11.97% and a return on equity of 25.51%. The company had revenue of $653.65 million during the quarter, compared to analysts' expectations of $626.23 million. During the same quarter in the prior year, the company earned $1.42 EPS. The firm's revenue was up 22.4% on a year-over-year basis. On average, research analysts anticipate that Stride will post 6.67 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Stride news, CEO James Jeaho Rhyu sold 13,961 shares of the company's stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $162.66, for a total value of $2,270,896.26. Following the completion of the transaction, the chief executive officer directly owned 706,353 shares in the company, valued at approximately $114,895,378.98. This represents a 1.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.00% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in LRN. Norges Bank bought a new stake in Stride during the 2nd quarter valued at about $92,858,000. Congress Asset Management Co. boosted its holdings in shares of Stride by 102.2% in the first quarter. Congress Asset Management Co. now owns 1,169,748 shares of the company's stock worth $147,973,000 after buying an additional 591,208 shares during the last quarter. Squarepoint Ops LLC raised its stake in Stride by 88.6% during the 2nd quarter. Squarepoint Ops LLC now owns 1,086,879 shares of the company's stock worth $157,804,000 after acquiring an additional 510,641 shares during the period. GAMMA Investing LLC raised its stake in Stride by 14,892.4% during the 1st quarter. GAMMA Investing LLC now owns 370,013 shares of the company's stock worth $46,807,000 after acquiring an additional 367,545 shares during the period. Finally, Cat Rock Capital Management LP bought a new stake in Stride during the 4th quarter worth approximately $36,694,000. 98.24% of the stock is currently owned by institutional investors.

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.