Brokerages Set Stride, Inc. (NYSE:LRN) Price Target at $90.17

Stride, Inc. (NYSE:LRN) has received an average recommendation of “Moderate Buy” from the seven brokerages that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $90.17.

Several research firms recently issued reports on LRN. Barrington Research increased their target price on Stride from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. BMO Capital Markets increased their price target on Stride from $84.00 to $88.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Citigroup increased their price target on Stride from $90.00 to $94.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Canaccord Genuity Group began coverage on Stride in a research report on Thursday, August 8th. They issued a “buy” rating and a $94.00 price target on the stock. Finally, Canaccord Genuity Group increased their price target on Stride from $94.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd.

Stride Price Performance

LRN opened at $94.79 on Wednesday. The stock’s 50-day moving average price is $81.07 and its 200 day moving average price is $74.63. Stride has a 12-month low of $54.81 and a 12-month high of $96.07. The company has a current ratio of 5.60, a quick ratio of 5.50 and a debt-to-equity ratio of 0.38. The firm has a market cap of $4.13 billion, a price-to-earnings ratio of 17.23, a PEG ratio of 0.70 and a beta of 0.27.

Stride (NYSE:LRN) last posted its earnings results on Tuesday, October 22nd. The company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.72. Stride had a return on equity of 21.23% and a net margin of 11.38%. The firm had revenue of $551.08 million for the quarter, compared to analyst estimates of $504.29 million. During the same quarter in the prior year, the company earned $0.11 EPS. Stride’s revenue was up 14.8% on a year-over-year basis. As a group, sell-side analysts expect that Stride will post 6.66 earnings per share for the current year.

Insider Activity

In other news, Director Todd Goldthwaite sold 8,028 shares of the stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $91.54, for a total value of $734,883.12. Following the transaction, the director now owns 85,058 shares in the company, valued at approximately $7,786,209.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. William Blair Investment Management LLC grew its stake in Stride by 20.1% during the 2nd quarter. William Blair Investment Management LLC now owns 2,122,102 shares of the company’s stock worth $149,608,000 after buying an additional 355,614 shares during the last quarter. Janus Henderson Group PLC grew its stake in Stride by 2.7% during the 1st quarter. Janus Henderson Group PLC now owns 1,154,995 shares of the company’s stock worth $72,821,000 after buying an additional 30,854 shares during the last quarter. Swedbank AB purchased a new position in Stride during the 1st quarter worth approximately $60,385,000. Victory Capital Management Inc. grew its stake in Stride by 72.4% during the 3rd quarter. Victory Capital Management Inc. now owns 827,505 shares of the company’s stock worth $70,594,000 after buying an additional 347,564 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. purchased a new position in Stride during the 2nd quarter worth approximately $43,387,000. Hedge funds and other institutional investors own 98.24% of the company’s stock.

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.