Stride (NYSE:LRN) Releases Quarterly Earnings Results, Beats Expectations By $0.13 EPS

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

Stride Stock Performance

Shares of NYSE:LRN traded up $4.89 during midday trading on Wednesday, hitting $63.09. The company’s stock had a trading volume of 772,405 shares, compared to its average volume of 758,336. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of 15.82, a PEG ratio of 0.67 and a beta of 0.26. The stock’s 50 day simple moving average is $60.31 and its 200 day simple moving average is $58.16. Stride has a fifty-two week low of $35.61 and a fifty-two week high of $69.70. The company has a debt-to-equity ratio of 0.43, a quick ratio of 4.44 and a current ratio of 4.52.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on LRN. Morgan Stanley increased their price objective on Stride from $60.00 to $65.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 24th. Citigroup raised their target price on Stride from $70.00 to $75.00 and gave the company a “buy” rating in a report on Monday, January 29th. Wedbush restated an “outperform” rating on shares of Stride in a report on Wednesday, January 24th. Barrington Research restated an “outperform” rating and set a $75.00 target price on shares of Stride in a report on Wednesday, April 17th. Finally, StockNews.com upgraded Stride from a “hold” rating to a “buy” rating in a report on Tuesday, April 2nd. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target 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.