Stride (NYSE:LRN) Hits New 12-Month High Following Analyst Upgrade

Stride, Inc. (NYSE:LRN - Get Free Report)'s stock price reached a new 52-week high during trading on Tuesday after Canaccord Genuity Group raised their price target on the stock from $100.00 to $130.00. Canaccord Genuity Group currently has a buy rating on the stock. Stride traded as high as $120.86 and last traded at $118.96, with a volume of 960216 shares trading hands. The stock had previously closed at $119.38.

Other equities research analysts have also issued research reports about the stock. Morgan Stanley raised their price target on shares of Stride from $94.00 to $109.00 and gave the company an "equal weight" rating in a research note on Thursday, December 12th. Citigroup raised their target price on Stride from $90.00 to $94.00 and gave the company a "neutral" rating in a research report on Tuesday, October 29th. StockNews.com lowered Stride from a "buy" rating to a "hold" rating in a research report on Wednesday, October 23rd. Barrington Research raised their price target on Stride from $100.00 to $130.00 and gave the company an "outperform" rating in a report on Friday, January 17th. Finally, BMO Capital Markets upped their price objective on shares of Stride from $84.00 to $88.00 and gave the stock an "outperform" rating in a report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $107.50.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Janus Henderson Group PLC increased its position in shares of Stride by 1.1% in the third quarter. Janus Henderson Group PLC now owns 1,170,434 shares of the company's stock worth $99,851,000 after acquiring an additional 13,050 shares in the last quarter. Geode Capital Management LLC boosted its stake in Stride by 3.8% in the 3rd quarter. Geode Capital Management LLC now owns 964,701 shares of the company's stock worth $82,315,000 after purchasing an additional 35,349 shares during the period. Vaughan Nelson Investment Management L.P. grew its position in Stride by 51.1% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 929,855 shares of the company's stock worth $79,326,000 after purchasing an additional 314,435 shares in the last quarter. Victory Capital Management Inc. raised 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 valued at $70,594,000 after purchasing an additional 347,564 shares during the period. Finally, Rockefeller Capital Management L.P. lifted its holdings in shares of Stride by 0.7% in the third quarter. Rockefeller Capital Management L.P. now owns 753,728 shares of the company's stock valued at $64,286,000 after purchasing an additional 5,278 shares in the last quarter. Institutional investors and hedge funds own 98.24% of the company's stock.

Stride Trading Up 1.3 %

The company has a quick ratio of 5.50, a current ratio of 5.60 and a debt-to-equity ratio of 0.38. The firm has a market cap of $5.25 billion, a price-to-earnings ratio of 21.91, a PEG ratio of 0.88 and a beta of 0.32. The company has a 50-day moving average price of $108.82 and a 200 day moving average price of $91.29.

Stride (NYSE:LRN - Get Free Report) last released its earnings results on Tuesday, January 28th. The company reported $2.03 earnings per share for the quarter, beating the consensus estimate of $1.92 by $0.11. Stride had a return on equity of 21.23% and a net margin of 11.38%. As a group, research analysts anticipate that Stride, Inc. will post 6.64 earnings per share for the current fiscal year.

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.