Stride, Inc. (NYSE:LRN) Stock Has Average Target Price of $106.25 According to Analysts

Stride, Inc. (NYSE:LRN) has been given an average recommendation of “Moderate Buy” by the seven brokerages that are currently covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $106.25.

LRN has been the topic of several analyst reports. BMO Capital Markets reduced their target price on Stride from $93.00 to $90.00 and set a “market perform” rating on the stock in a report on Monday, October 5th. Zacks Research raised Stride from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. Weiss Ratings raised shares of Stride from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, October 16th. Barrington Research reduced their price objective on shares of Stride from $125.00 to $115.00 and set an “outperform” rating on the stock in a research note on Friday, October 23rd. Finally, William Blair lowered shares of Stride from an “outperform” rating to a “market perform” rating in a report on Thursday, July 30th.

Stride Trading Down 2.7%

Shares of NYSE:LRN opened at $78.49 on Friday. The company has a market capitalization of $3.30 billion, a P/E ratio of 10.83, a P/E/G ratio of 0.43 and a beta of 0.14. Stride has a 1 year low of $60.61 and a 1 year high of $103.67. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.56 and a quick ratio of 2.53. The business’s 50 day simple moving average is $81.44 and its 200 day simple moving average is $85.75.

Stride (NYSE:LRN) last posted its quarterly earnings data on Tuesday, October 20th. The company reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.30. The firm had revenue of $639.38 million for the quarter, compared to analyst estimates of $612.25 million. Stride had a return on equity of 22.06% and a net margin of 13.18%. The company’s revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the company earned $1.40 EPS. On average, research analysts anticipate that Stride will post 9.04 EPS for the current fiscal year.

Insider Buying and Selling at Stride

In other news, Director Dylan Haggart purchased 792 shares of the business’s stock in a transaction dated Tuesday, October 27th. The stock was bought at an average price of $78.52 per share, with a total value of $62,187.84. Following the acquisition, the director owned 1,899,703 shares in the company, valued at approximately $149,164,679.56. The trade was a 0.04% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last ninety days, insiders have purchased 154,988 shares of company stock worth $12,240,185. Corporate insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in LRN. Jupiter Topco LLC bought a new position in Stride in the 2nd quarter valued at approximately $199,715,000. Janus Henderson Group PLC boosted its position in 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 in the last quarter. William Blair Investment Management LLC bought a new stake in shares of Stride during the second quarter worth $71,036,000. Deutsche Bank AG bought a new stake in shares of Stride during the second quarter worth $63,624,000. Finally, Bank of America Corp DE bought a new stake in shares of Stride during the second quarter worth $49,350,000. 98.24% of the stock is owned by institutional investors.

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.