Stride (NYSE:LRN) Receives New Coverage from Analysts at Canaccord Genuity Group

Canaccord Genuity Group assumed coverage on shares of Stride (NYSE:LRN) in a report published on Thursday, MarketBeat reports. The firm issued a buy rating and a $94.00 price target on the stock.

Several other research firms have also recently issued reports on LRN. BMO Capital Markets upped their price objective on Stride from $72.00 to $73.00 and gave the company an outperform rating in a research report on Thursday, April 25th. StockNews.com cut Stride from a buy rating to a hold rating in a research report on Thursday, August 1st. Finally, Barrington Research upped their price objective on Stride from $75.00 to $85.00 and gave the company an outperform rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Stride currently has a consensus rating of Moderate Buy and a consensus price target of $83.33.

Stride Stock Performance

Stride stock opened at $81.99 on Thursday. The company has a market capitalization of $3.55 billion, a P/E ratio of 19.25, a PEG ratio of 0.74 and a beta of 0.28. Stride has a twelve month low of $38.15 and a twelve month high of $82.12. The company has a quick ratio of 4.21, a current ratio of 4.29 and a debt-to-equity ratio of 0.40. The stock’s 50 day moving average is $70.50 and its 200 day moving average is $65.72.

Stride (NYSE:LRN) last released its quarterly earnings data on Tuesday, August 6th. The company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.15. The business had revenue of $534.18 million for the quarter, compared to analysts’ expectations of $525.89 million. Stride had a return on equity of 18.29% and a net margin of 9.29%. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.01 EPS. On average, equities research analysts predict that Stride will post 4.55 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Stride

Several hedge funds and other institutional investors have recently modified their holdings of LRN. Strs Ohio bought a new position in shares of Stride during the 4th quarter valued at $47,000. GAMMA Investing LLC bought a new position in Stride in the 4th quarter worth $65,000. Quadrant Capital Group LLC raised its holdings in Stride by 76.7% in the 4th quarter. Quadrant Capital Group LLC now owns 1,113 shares of the company’s stock worth $66,000 after purchasing an additional 483 shares during the period. Motco bought a new position in Stride in the 1st quarter worth $74,000. Finally, EntryPoint Capital LLC bought a new position in Stride in the 1st quarter worth $77,000. 98.24% of the stock is owned by institutional investors.

Stride Company Profile

Stride, Inc, a technology-based education service company, provides proprietary and third-party online curriculum, software systems, and educational services to facilitate individualized learning for students primarily in kindergarten through 12th grade (K-12) in the United States and internationally.