Stride (NYSE:LRN) Stock Price Down 5% - What's Next?

Key Points

• Stride shares fell about 5% on Tuesday, trading as low as $90.09 amid very light volume compared with its average session volume.
• Recent analyst commentary has been mixed: some firms reaffirmed Outperform/Buy ratings, while others kept Hold or market-perform views. The stock’s consensus rating remains Hold with an average price target of $109.75.
• Fundamentals remain solid, with Stride recently beating quarterly EPS estimates and modest revenue growth year over year. The company also shows strong liquidity and low leverage, with institutional investors owning the vast majority of shares.

Stride, Inc. (NYSE:LRN - Get Free Report) traded down 5% on Tuesday . The stock traded as low as $90.09 and last traded at $87.4270. Approximately 28,576 shares traded hands during mid-day trading, a decline of 97% from the average session volume of 957,341 shares. The stock had previously closed at $92.02.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on LRN shares. Barrington Research reiterated an "outperform" rating and set a $125.00 target price on shares of Stride in a report on Thursday, April 16th. William Blair restated an "outperform" rating on shares of Stride in a report on Monday, June 15th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Stride in a research report on Wednesday, July 8th. Finally, BMO Capital Markets reiterated a "market perform" rating on shares of Stride in a research note on Monday, June 15th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, Stride has a consensus rating of "Hold" and an average price target of $109.75.

Stride Stock Down 4.1%

The firm has a 50 day moving average price of $90.41 and a two-hundred day moving average price of $85.60. The company has a quick ratio of 6.14, a current ratio of 6.21 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $3.75 billion, a price-to-earnings ratio of 13.61, a P/E/G ratio of 0.51 and a beta of 0.10.

Stride (NYSE:LRN - Get Free Report) last announced its earnings results on Tuesday, April 28th. The company reported $2.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.21 by $0.09. The business had revenue of $629.87 million for the quarter, compared to analyst estimates of $629.69 million. Stride had a return on equity of 25.20% and a net margin of 12.15%.The company's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.02 earnings per share. As a group, sell-side analysts expect that Stride, Inc. will post 8.21 earnings per share for the current year.

Hedge Funds Weigh In On Stride

A number of institutional investors have recently made changes to their positions in the business. Newbridge Financial Services Group Inc. acquired a new stake in shares of Stride during the second quarter worth approximately $25,000. Northwestern Mutual Wealth Management Co. grew its holdings in Stride by 78.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 193 shares of the company's stock worth $28,000 after acquiring an additional 85 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in Stride by 62.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the company's stock worth $43,000 after acquiring an additional 131 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Stride by 108.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 432 shares of the company's stock worth $38,000 after purchasing an additional 225 shares during the last quarter. Finally, Advisory Services Network LLC acquired a new stake in shares of Stride in the 3rd quarter valued at about $78,000. 98.24% of the stock is owned by institutional investors and hedge funds.

Stride Company Profile

Stride, Inc NYSE: LRN is a technology-driven education company that designs and delivers online learning solutions for students and adult learners. Through long-term partnerships with state-authorized public school districts, Stride operates virtual academies that serve K-12 students across the United States. The company's blended-learning model combines digital curriculum, live teaching support and data analytics to personalize instruction and monitor student progress.

In addition to its K-12 offerings, Stride provides a portfolio of career and workforce readiness programs under its Stride Career Prep division.

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