Stride (NYSE:LRN) Announces Earnings Results

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

Stride Stock Performance

LRN traded up $4.83 during trading on Wednesday, hitting $63.03. 838,018 shares of the company traded hands, compared to its average volume of 759,675. The firm has a market cap of $2.73 billion, a P/E ratio of 15.97, a price-to-earnings-growth ratio of 0.67 and a beta of 0.26. The stock’s fifty day moving average is $60.31 and its 200 day moving average is $58.16. The company has a quick ratio of 4.44, a current ratio of 4.52 and a debt-to-equity ratio of 0.43. Stride has a one year low of $35.61 and a one year high of $69.70.

Analysts Set New Price Targets

A number of brokerages have commented on LRN. BMO Capital Markets boosted their price target on shares of Stride from $71.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Citigroup upped their target price 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. Morgan Stanley upped their target price 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. Finally, Wedbush reiterated an “outperform” rating on shares of Stride in a research note on Wednesday, January 24th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus 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.