Stride (NYSE:LRN) Sets New 12-Month High - Time to Buy?

Key Points

• Stride, Inc. (NYSE:LRN) reached a new 52-week high of $162.75, indicating strong market performance, with shares last trading at $163.38.
• Analysts have raised price targets for Stride, with Canaccord Genuity and Barrington Research setting targets of $155.00 and $170.00, respectively, reflecting a general positive outlook on the stock.
• The company reported $2.29 earnings per share (EPS) for the recent quarter, significantly exceeding analyst estimates, alongside a revenue increase of 22.4% year-over-year.

Stride, Inc. (NYSE:LRN - Get Free Report) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $162.75 and last traded at $163.38, with a volume of 99317 shares changing hands. The stock had previously closed at $160.19.

Analysts Set New Price Targets

A number of equities analysts have recently commented on LRN shares. Canaccord Genuity Group boosted their price target on Stride from $145.00 to $155.00 and gave the stock a "buy" rating in a report on Monday, April 28th. Barrington Research reiterated an "outperform" rating and set a $170.00 price objective on shares of Stride in a research report on Thursday, July 24th. Wall Street Zen raised shares of Stride from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. Morgan Stanley raised their price objective on Stride from $148.00 to $159.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Finally, BMO Capital Markets reiterated an "outperform" rating on shares of Stride in a research report on Thursday, May 1st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, Stride has a consensus rating of "Moderate Buy" and an average price target of $143.40.

Stride Trading Up 1.5%

The firm has a market cap of $7.09 billion, a PE ratio of 26.97, a P/E/G ratio of 0.94 and a beta of 0.10. The firm has a 50 day moving average of $139.62 and a 200 day moving average of $139.07. The company has a quick ratio of 5.27, a current ratio of 5.39 and a debt-to-equity ratio of 0.31.

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

Institutional Trading of Stride

Several large investors have recently added to or reduced their stakes in LRN. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Stride during the second quarter valued at approximately $30,000. Penserra Capital Management LLC purchased a new stake in shares of Stride during the second quarter valued at $27,000. Northwestern Mutual Wealth Management Co. raised its position in Stride by 78.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 193 shares of the company's stock worth $28,000 after buying an additional 85 shares during the last quarter. Larson Financial Group LLC raised its holdings in shares of Stride by 333.3% during the first quarter. Larson Financial Group LLC now owns 208 shares of the company's stock valued at $26,000 after purchasing an additional 160 shares during the last quarter. Finally, First Horizon Advisors Inc. boosted its holdings 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 purchasing an additional 156 shares during the last quarter. Institutional investors own 98.24% of the company's stock.

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.

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