Stride (NYSE:LRN) Hits New 12-Month High Following Earnings Beat

Shares of Stride, Inc. (NYSE:LRN) reached a new 52-week high on Tuesday following a stronger than expected earnings report. The stock traded as high as $120.86 and last traded at $118.96, with a volume of 960216 shares. The stock had previously closed at $119.38.

The company reported $2.03 earnings per share for the quarter, beating the consensus estimate of $1.92 by $0.11. Stride had a net margin of 11.38% and a return on equity of 21.23%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Morgan Stanley raised their price target on Stride from $94.00 to $109.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Canaccord Genuity Group raised their price objective on Stride from $100.00 to $130.00 and gave the company a “buy” rating in a research note on Monday. Citigroup upped their price target on shares of Stride from $90.00 to $94.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. StockNews.com cut shares of Stride from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Finally, Barrington Research increased their target price on shares of Stride from $130.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $109.17.

Institutional Investors Weigh In On Stride

A number of institutional investors have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC purchased a new position in shares of Stride in the 2nd quarter worth approximately $534,000. B. Riley Wealth Advisors Inc. bought a new stake in Stride in the third quarter worth $430,000. International Assets Investment Management LLC boosted its stake in Stride by 8,431.7% during the third quarter. International Assets Investment Management LLC now owns 5,119 shares of the company’s stock worth $437,000 after buying an additional 5,059 shares during the period. Quest Partners LLC boosted its stake in Stride by 20,248.8% during the third quarter. Quest Partners LLC now owns 8,343 shares of the company’s stock worth $712,000 after buying an additional 8,302 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its position in Stride by 24.6% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 36,000 shares of the company’s stock valued at $3,071,000 after acquiring an additional 7,100 shares during the last quarter. 98.24% of the stock is owned by hedge funds and other institutional investors.

Stride Trading Up 6.2 %

The company’s 50 day moving average price is $109.33 and its two-hundred day moving average price is $91.54. The firm has a market cap of $5.59 billion, a PE ratio of 23.30, a P/E/G ratio of 0.88 and a beta of 0.32. The company has a quick ratio of 5.50, a current ratio of 5.60 and a debt-to-equity ratio of 0.38.

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.