Stride (NYSE:LRN) Reaches New 12-Month High - Still a Buy?

Stride, Inc. (NYSE:LRN - Get Free Report)'s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $115.42 and last traded at $114.82, with a volume of 218361 shares. The stock had previously closed at $111.36.

Analysts Set New Price Targets

Several research analysts have recently commented on LRN shares. Citigroup lifted their target price on Stride from $90.00 to $94.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 29th. Morgan Stanley lifted their price objective on shares of Stride from $94.00 to $109.00 and gave the stock an "equal weight" rating in a report on Thursday, December 12th. Barrington Research increased their target price on shares of Stride from $100.00 to $130.00 and gave the stock an "outperform" rating in a report on Friday. Canaccord Genuity Group lifted their price target on shares of Stride from $94.00 to $100.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Finally, BMO Capital Markets increased their price objective on shares of Stride from $84.00 to $88.00 and gave the stock an "outperform" rating in a research note on Thursday, October 24th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $102.50.

Stride Stock Performance

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 company's 50-day moving average is $106.23 and its two-hundred day moving average is $88.21. The stock has a market capitalization of $4.96 billion, a P/E ratio of 20.71, a P/E/G ratio of 0.84 and a beta of 0.32.

Stride (NYSE:LRN - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $0.94 earnings per share for the quarter, beating analysts' consensus estimates of $0.22 by $0.72. Stride had a return on equity of 21.23% and a net margin of 11.38%. The company had revenue of $551.08 million for the quarter, compared to analysts' expectations of $504.29 million. During the same quarter in the previous year, the company posted $0.11 earnings per share. The business's revenue for the quarter was up 14.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Stride, Inc. will post 6.64 EPS for the current fiscal year.

Insiders Place Their Bets

In other Stride news, Director Todd Goldthwaite sold 8,028 shares of the business's stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $91.54, for a total transaction of $734,883.12. Following the sale, the director now directly owns 85,058 shares in the company, valued at approximately $7,786,209.32. The trade was a 8.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in LRN. Crossmark Global Holdings Inc. boosted its position in shares of Stride by 3.9% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 3,213 shares of the company's stock valued at $274,000 after purchasing an additional 121 shares in the last quarter. Dakota Wealth Management boosted its holdings in Stride by 4.1% during the fourth quarter. Dakota Wealth Management now owns 3,070 shares of the company's stock worth $319,000 after buying an additional 121 shares in the last quarter. Amalgamated Bank grew its position in Stride by 1.9% in the third quarter. Amalgamated Bank now owns 12,528 shares of the company's stock worth $1,069,000 after buying an additional 235 shares during the last quarter. Sei Investments Co. increased its holdings in shares of Stride by 0.6% in the second quarter. Sei Investments Co. now owns 40,210 shares of the company's stock valued at $2,834,000 after buying an additional 242 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in shares of Stride by 0.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 33,412 shares of the company's stock valued at $2,850,000 after acquiring an additional 251 shares during the last quarter. 98.24% of the stock is currently owned by institutional investors.

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.