Stride (NYSE:LRN) Trading Down 4.4% - What's Next?

Shares of Stride, Inc. (NYSE:LRN - Get Free Report) traded down 4.4% on Wednesday . The company traded as low as $136.36 and last traded at $135.27. 210,576 shares changed hands during trading, a decline of 75% from the average session volume of 853,166 shares. The stock had previously closed at $141.55.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on LRN shares. Wall Street Zen raised shares of Stride from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. Canaccord Genuity Group increased their price objective 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 restated an "outperform" rating on shares of Stride in a research note on Wednesday, April 30th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Stride in a report on Thursday, May 1st. Finally, Barrington Research raised their price target on Stride from $150.00 to $170.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $126.83.

Stride Stock Performance

The firm's 50-day moving average price is $148.39 and its 200-day moving average price is $132.81. The company has a debt-to-equity ratio of 0.33, a current ratio of 5.61 and a quick ratio of 5.53. The stock has a market cap of $5.98 billion, a P/E ratio of 21.44, a PEG ratio of 0.89 and a beta of 0.32.

Stride (NYSE:LRN - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $2.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.09 by ($0.07). The company had revenue of $613.38 million during the quarter, compared to the consensus estimate of $591.15 million. Stride had a net margin of 13.10% and a return on equity of 23.36%. The business's revenue was up 17.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.60 earnings per share. Sell-side analysts expect that Stride, Inc. will post 6.67 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Stride

Several large investors have recently made changes to their positions in the company. Larson Financial Group LLC boosted its stake in 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 buying an additional 160 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in shares of Stride by 140.5% during the 1st 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. Point72 Hong Kong Ltd bought a new position in shares of Stride during the 4th quarter valued at approximately $41,000. CIBC Private Wealth Group LLC grew its holdings in shares of Stride by 85.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 386 shares of the company's stock valued at $42,000 after purchasing an additional 178 shares in the last quarter. Finally, Harbour Investments Inc. increased its position in Stride by 374.6% in the first quarter. Harbour Investments Inc. now owns 337 shares of the company's stock worth $43,000 after purchasing an additional 266 shares during the last quarter. 98.24% of the stock is owned by institutional investors.

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.