Stride (NYSE:LRN) Issues Earnings Results

Stride (NYSE:LRN) posted its quarterly earnings data on Tuesday. The company reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.13, Briefing.com reports. Stride had a net margin of 8.80% and a return on equity of 17.77%. The company had revenue of $520.84 million during the quarter, compared to the consensus estimate of $507.89 million. During the same period in the prior year, the business posted $1.30 EPS. The company’s quarterly revenue was up 10.7% on a year-over-year basis. Stride updated its FY 2024 guidance to EPS.

Stride Price Performance

NYSE:LRN traded up $4.89 during mid-day trading on Wednesday, reaching $63.09. The stock had a trading volume of 772,405 shares, compared to its average volume of 758,336. The stock has a 50-day simple moving average of $60.31 and a two-hundred day simple moving average of $58.16. The stock has a market capitalization of $2.74 billion, a PE ratio of 15.82, a P/E/G ratio of 0.67 and a beta of 0.26. The company has a debt-to-equity ratio of 0.43, a current ratio of 4.52 and a quick ratio of 4.44. Stride has a 12 month low of $35.61 and a 12 month high of $69.70.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on LRN shares. Morgan Stanley increased their price objective on shares of Stride from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 24th. Citigroup increased their price objective on shares of Stride from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, January 29th. StockNews.com upgraded shares of Stride from a “hold” rating to a “buy” rating in a research note on Tuesday, April 2nd. Barrington Research reiterated an “outperform” rating and issued a $75.00 target price on shares of Stride in a research note on Wednesday, April 17th. Finally, Wedbush restated an “outperform” rating on shares of Stride in a research report on Wednesday, January 24th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $71.75.

About Stride

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.