Stride, Inc. (NYSE:LRN) Given Average Rating of "Moderate Buy" by Brokerages

Stride, Inc. (NYSE:LRN - Get Free Report) has received an average rating of "Moderate Buy" from the seven ratings firms that are presently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $97.50.

A number of research firms have weighed in on LRN. BMO Capital Markets increased their price objective on Stride from $84.00 to $88.00 and gave the stock an "outperform" rating in a research report on Thursday, October 24th. StockNews.com lowered shares of Stride from a "buy" rating to a "hold" rating in a research report on Wednesday, October 23rd. Citigroup upped their price objective on shares of Stride from $90.00 to $94.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 29th. Barrington Research lifted their target price on shares of Stride from $90.00 to $100.00 and gave the company an "outperform" rating in a report on Wednesday, October 23rd. Finally, Canaccord Genuity Group boosted their target price on Stride from $94.00 to $100.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd.

Stride Stock Performance

NYSE LRN traded up $0.79 on Thursday, reaching $106.08. The stock had a trading volume of 1,181,793 shares, compared to its average volume of 826,609. The stock has a market cap of $4.62 billion, a P/E ratio of 19.29, a price-to-earnings-growth ratio of 0.80 and a beta of 0.30. Stride has a 12-month low of $54.81 and a 12-month high of $112.80. The business's 50-day moving average price is $95.87 and its 200 day moving average price is $82.71. The company has a debt-to-equity ratio of 0.38, a quick ratio of 5.50 and a current ratio of 5.60.

Stride (NYSE:LRN - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $0.94 EPS for the quarter, beating analysts' consensus estimates of $0.22 by $0.72. Stride had a net margin of 11.38% and a return on equity of 21.23%. The company had revenue of $551.08 million for the quarter, compared to analyst estimates of $504.29 million. During the same period in the previous year, the business posted $0.11 earnings per share. Stride's quarterly revenue was up 14.8% on a year-over-year basis. As a group, equities analysts expect that Stride will post 6.66 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Todd Goldthwaite sold 8,028 shares of Stride stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $91.54, for a total transaction of $734,883.12. Following the completion of the transaction, the director now directly owns 85,058 shares in the company, valued at $7,786,209.32. The trade was a 8.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 3.00% of the company's stock.

Hedge Funds Weigh In On Stride

Hedge funds have recently bought and sold shares of the stock. nVerses Capital LLC acquired a new position in shares of Stride in the second quarter worth $78,000. Mendota Financial Group LLC purchased a new position in Stride in the 3rd quarter valued at about $86,000. TD Private Client Wealth LLC boosted its stake in shares of Stride by 27.7% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,962 shares of the company's stock worth $167,000 after purchasing an additional 426 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Stride by 45.3% during the third quarter. GAMMA Investing LLC now owns 2,061 shares of the company's stock worth $176,000 after buying an additional 643 shares in the last quarter. Finally, Central Pacific Bank Trust Division raised its position in shares of Stride by 24.2% in the third quarter. Central Pacific Bank Trust Division now owns 2,153 shares of the company's stock valued at $184,000 after buying an additional 420 shares during the last quarter. Hedge funds and other 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.