Stride, Inc. (NYSE:LRN) Stock Now Rated “Hold” by Wall Street Brokerages

Stride, Inc. (NYSE:LRN) has earned an average rating of “Hold” from the seven brokerages that are covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $106.25.

Several analysts have issued reports on LRN shares. Weiss Ratings upgraded Stride from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, October 16th. BMO Capital Markets lowered their price objective on Stride from $93.00 to $90.00 and set a “market perform” rating for the company in a research report on Monday, October 5th. Barrington Research cut their target price on Stride from $125.00 to $115.00 and set an “outperform” rating for the company in a research note on Friday. Finally, William Blair downgraded Stride from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 30th.

Institutional Trading of Stride

Several institutional investors and hedge funds have recently bought and sold shares of LRN. Jupiter Topco LLC purchased a new position in Stride in the 2nd quarter valued at approximately $199,715,000. Janus Henderson Group PLC raised its holdings in shares of Stride by 61.0% in the first quarter. Janus Henderson Group PLC now owns 2,277,279 shares of the company’s stock valued at $200,799,000 after buying an additional 862,849 shares during the last quarter. William Blair Investment Management LLC purchased a new position in Stride during the 2nd quarter worth $71,036,000. Deutsche Bank AG purchased a new position in shares of Stride during the 2nd quarter worth approximately $63,624,000. Finally, Bank of America Corp DE purchased a new position in Stride in the second quarter worth $49,350,000. 98.24% of the stock is currently owned by hedge funds and other institutional investors.

Stride Stock Down 1.4%

Shares of LRN opened at $79.58 on Friday. The stock’s 50 day moving average is $81.92 and its two-hundred day moving average is $87.06. Stride has a 12 month low of $60.61 and a 12 month high of $155.06. The firm has a market cap of $3.35 billion, a P/E ratio of 10.98, a PEG ratio of 0.46 and a beta of 0.14. The company has a current ratio of 2.56, a quick ratio of 5.81 and a debt-to-equity ratio of 0.06.

Stride (NYSE:LRN) last announced its earnings results on Tuesday, October 20th. The company reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.30. The business had revenue of $639.38 million during the quarter, compared to analysts’ expectations of $612.25 million. Stride had a return on equity of 22.06% and a net margin of 13.18%. The business’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.40 earnings per share. Analysts predict that Stride will post 8.80 earnings per share for the current fiscal year.

About Stride

Stride, Inc is an education technology company that provides online and blended learning programs for K-12 students. The company partners with public school districts, charter schools and other education organizations to deliver digital curricula, instructional software, teaching support and student services. Its offerings are designed to support full-time virtual schools, supplemental courses and traditional schools incorporating online learning.

Stride also provides career-focused education through programs that combine academic instruction with career exploration, technical training and industry-aligned learning opportunities.