Stride (NYSE:LRN) Price Target Raised to $159.00 at Morgan Stanley

Key Points

• Morgan Stanley has raised its price target for Stride (NYSE:LRN) from $148.00 to $159.00, indicating a potential upside of 6.34% from the company's previous close.
• Stride's shares increased by 16.6% during mid-day trading on Wednesday, reaching $149.52, with a daily trading volume significantly higher than its average.
• Several analysts have expressed positive outlooks on Stride, with a consensus rating of "Moderate Buy" and an average price target of $135.17 after multiple upgrades in recent reports.

Stride (NYSE:LRN - Free Report) had its price target upped by Morgan Stanley from $148.00 to $159.00 in a research note issued to investors on Wednesday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other research analysts also recently commented on LRN. Wall Street Zen raised shares of Stride from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. Canaccord Genuity Group increased their price target on shares of Stride from $145.00 to $155.00 and gave the stock a "buy" rating in a research note on Monday, April 28th. William Blair reissued an "outperform" rating on shares of Stride in a research note on Wednesday, April 30th. Barrington Research reaffirmed an "outperform" rating and issued a $170.00 target price on shares of Stride in a research report on Thursday, July 24th. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Stride in a research report on Thursday, May 1st. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Stride currently has an average rating of "Moderate Buy" and an average target price of $135.17.

Stride Price Performance

Shares of LRN traded up $6.67 during mid-day trading on Wednesday, hitting $150.72. The company's stock had a trading volume of 363,869 shares, compared to its average volume of 778,923. The firm has a 50-day simple moving average of $138.69 and a 200 day simple moving average of $137.44. Stride has a 1-year low of $63.25 and a 1-year high of $162.30. The firm has a market capitalization of $6.56 billion, a P/E ratio of 25.24, a P/E/G ratio of 0.96 and a beta of 0.10. The company has a current ratio of 5.39, a quick ratio of 5.53 and a debt-to-equity ratio of 0.31.

Stride (NYSE:LRN - Get Free Report) last posted its quarterly earnings results 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. The company had revenue of $653.65 million during the quarter, compared to the consensus estimate of $626.23 million. Stride had a net margin of 11.97% and a return on equity of 25.51%. The company's revenue for the quarter was up 22.4% on a year-over-year basis. During the same period last year, the firm earned $1.42 EPS. Analysts predict that Stride will post 6.67 EPS for the current fiscal year.

Institutional Investors Weigh In On Stride

Institutional investors have recently bought and sold shares of the business. Larson Financial Group LLC grew its stake in shares of Stride by 333.3% in the 1st quarter. Larson Financial Group LLC now owns 208 shares of the company's stock valued at $26,000 after buying an additional 160 shares in the last quarter. Penserra Capital Management LLC acquired a new stake in Stride in the second quarter valued at approximately $27,000. First Horizon Advisors Inc. grew its position in Stride by 140.5% in the first quarter. First Horizon Advisors Inc. now owns 267 shares of the company's stock worth $34,000 after acquiring an additional 156 shares in the last quarter. Golden State Wealth Management LLC increased its stake in shares of Stride by 37.5% during the 2nd quarter. Golden State Wealth Management LLC now owns 275 shares of the company's stock worth $40,000 after purchasing an additional 75 shares during the last quarter. Finally, Point72 Hong Kong Ltd bought a new position in shares of Stride during the 4th quarter valued at $41,000. 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.