Stride (NYSE:LRN) Price Target Raised to $175.00 at Canaccord Genuity Group

Stride (NYSE:LRN) had its target price hoisted by equities researchers at Canaccord Genuity Group from $165.00 to $175.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 15.23% from the stock’s previous close.

A number of other analysts have also recently commented on LRN. Weiss Ratings restated a “buy (b)” rating on shares of Stride in a research report on Wednesday, October 8th. Barrington Research reiterated an “outperform” rating and set a $185.00 target price on shares of Stride in a report on Tuesday, September 23rd. Morgan Stanley increased their target price on Stride from $148.00 to $159.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 6th. Finally, Wall Street Zen cut Stride from a “buy” rating to a “hold” rating in a report on Saturday, October 4th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $150.40.

Stride Price Performance

LRN opened at $151.87 on Friday. The company has a quick ratio of 5.27, a current ratio of 5.39 and a debt-to-equity ratio of 0.31. Stride has a 12 month low of $87.81 and a 12 month high of $171.17. The company has a fifty day simple moving average of $152.69 and a 200 day simple moving average of $146.02. The stock has a market cap of $6.63 billion, a P/E ratio of 25.23, a P/E/G ratio of 0.87 and a beta of 0.07.

Stride (NYSE:LRN) last released its quarterly earnings data on Tuesday, August 5th. The company reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.46. Stride had a net margin of 11.97% and a return on equity of 25.51%. The business had revenue of $653.65 million during the quarter, compared to analysts’ expectations of $626.23 million. During the same quarter in the prior year, the company earned $1.42 EPS. The firm’s quarterly revenue was up 22.4% on a year-over-year basis. On average, research analysts expect that Stride will post 6.67 EPS for the current year.

Insider Activity at Stride

In other news, CEO James Jeaho Rhyu sold 13,961 shares of the stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $162.66, for a total transaction of $2,270,896.26. Following the completion of the transaction, the chief executive officer directly owned 706,353 shares in the company, valued at $114,895,378.98. This represents a 1.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 3.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Stride

Large investors have recently modified their holdings of the business. Newbridge Financial Services Group Inc. acquired a new position in shares of Stride during the 2nd quarter worth about $25,000. Financial Management Professionals Inc. acquired a new position in shares of Stride during the 3rd quarter worth about $26,000. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Stride during the 2nd quarter worth about $30,000. Penserra Capital Management LLC acquired a new position in shares of Stride during the 2nd quarter worth about $27,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of Stride by 78.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 193 shares of the company’s stock worth $28,000 after buying an additional 85 shares during the last quarter. 98.24% of the stock is currently owned by institutional investors and hedge funds.

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.