Stride (NYSE:LRN) Stock Rating Upgraded by Wall Street Zen

Key Points

• Stride (NYSE:LRN) was upgraded by Wall Street Zen from a "hold" to a "buy" rating, indicating increased investor confidence.
• Quarterly earnings showed Stride reported $2.29 EPS, exceeding analysts' expectations and reflecting a 22.4% year-over-year revenue increase.
• Institutional investors now own 98.24% of Stride's stock, highlighting strong institutional backing and investment in the company.

Wall Street Zen upgraded shares of Stride (NYSE:LRN - Free Report) from a hold rating to a buy rating in a research report report published on Saturday.

A number of other brokerages have also recently commented on LRN. Barrington Research raised their price target on shares of Stride from $170.00 to $185.00 and gave the stock an "outperform" rating in a research note on Friday, August 29th. Morgan Stanley raised their price target on shares of Stride from $148.00 to $159.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $146.40.

Stride Stock Performance

LRN stock traded down $1.44 during trading on Friday, reaching $142.63. 30,115 shares of the stock were exchanged, compared to its average volume of 775,750. Stride has a twelve month low of $63.25 and a twelve month high of $171.17. The company has a market capitalization of $6.22 billion, a P/E ratio of 23.74, a price-to-earnings-growth ratio of 0.83 and a beta of 0.22. The stock has a 50 day simple moving average of $148.64 and a 200-day simple moving average of $142.85. The company has a current ratio of 5.39, a quick ratio of 5.27 and a debt-to-equity ratio of 0.31.

Stride (NYSE:LRN - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $2.29 earnings per share for the quarter, topping analysts' consensus estimates of $1.83 by $0.46. Stride had a return on equity of 25.51% and a net margin of 11.97%.The business had revenue of $653.65 million for the quarter, compared to the consensus estimate of $626.23 million. During the same period last year, the business earned $1.42 earnings per share. The firm's revenue for the quarter was up 22.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Stride will post 6.67 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO James Jeaho Rhyu sold 13,961 shares of the business's stock in a transaction that occurred 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 owned 706,353 shares in the company, valued at $114,895,378.98. The trade was a 1.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 3.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of LRN. Norges Bank bought a new position in Stride in the 2nd quarter worth approximately $92,858,000. Congress Asset Management Co. grew its holdings in Stride by 102.2% during the 1st quarter. Congress Asset Management Co. now owns 1,169,748 shares of the company's stock worth $147,973,000 after acquiring an additional 591,208 shares during the period. Squarepoint Ops LLC raised its position in shares of Stride by 88.6% during the 2nd quarter. Squarepoint Ops LLC now owns 1,086,879 shares of the company's stock valued at $157,804,000 after acquiring an additional 510,641 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Stride by 14,892.4% during the 1st quarter. GAMMA Investing LLC now owns 370,013 shares of the company's stock valued at $46,807,000 after acquiring an additional 367,545 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Stride by 120.6% during the 4th quarter. Wellington Management Group LLP now owns 607,581 shares of the company's stock valued at $63,146,000 after acquiring an additional 332,098 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.