Brokerages Set Stride, Inc. (NYSE:LRN) Target Price at $109.75

Shares of Stride, Inc. (NYSE:LRN) have been given a consensus recommendation of “Hold” by the seven ratings firms that are presently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $109.75.

Several research firms have recently weighed in on LRN. BMO Capital Markets reissued a “market perform” rating on shares of Stride in a research report on Monday, June 15th. William Blair reiterated an “outperform” rating on shares of Stride in a research report on Monday, June 15th. Weiss Ratings reissued a “hold (c)” rating on shares of Stride in a research note on Wednesday, July 8th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $125.00 target price on shares of Stride in a research report on Thursday, April 16th.

Stride Trading Up 2.2%

NYSE:LRN opened at $86.05 on Friday. The stock has a fifty day simple moving average of $89.79 and a 200 day simple moving average of $86.74. The firm has a market capitalization of $3.66 billion, a price-to-earnings ratio of 13.28, a price-to-earnings-growth ratio of 0.47 and a beta of 0.10. Stride has a 1-year low of $60.61 and a 1-year high of $171.17. The company has a quick ratio of 6.14, a current ratio of 6.21 and a debt-to-equity ratio of 0.29.

Stride (NYSE:LRN) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.09. Stride had a return on equity of 25.20% and a net margin of 12.15%.The firm had revenue of $629.87 million for the quarter, compared to the consensus estimate of $629.69 million. During the same quarter in the previous year, the company earned $2.02 EPS. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. Sell-side analysts forecast that Stride will post 8.21 earnings per share for the current year.

Hedge Funds Weigh In On Stride

A number of large investors have recently made changes to their positions in LRN. Newbridge Financial Services Group Inc. purchased a new position in Stride during the second quarter valued at approximately $25,000. 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 valued at $28,000 after buying an additional 85 shares during the period. Leonteq Securities AG acquired a new stake in shares of Stride during the 4th quarter valued at $35,000. EverSource Wealth Advisors LLC grew its holdings in shares of Stride by 108.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 432 shares of the company’s stock valued at $38,000 after acquiring an additional 225 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its stake in shares of Stride by 482.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 617 shares of the company’s stock worth $40,000 after acquiring an additional 511 shares during the last quarter. Institutional investors and hedge funds own 98.24% of the company’s stock.

About Stride

Stride, Inc (NYSE:LRN) is a technology-driven education company that designs and delivers online learning solutions for students and adult learners. Through long-term partnerships with state-authorized public school districts, Stride operates virtual academies that serve K-12 students across the United States. The company’s blended-learning model combines digital curriculum, live teaching support and data analytics to personalize instruction and monitor student progress.

In addition to its K-12 offerings, Stride provides a portfolio of career and workforce readiness programs under its Stride Career Prep division.