Stride (NYSE:LRN) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Stride (NYSE:LRN) had its price target upped by Morgan Stanley from $148.00 to $159.00 in a research note issued to investors on Wednesday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

LRN has been the subject of a number of other research reports. Barrington Research reiterated an “outperform” rating and set a $170.00 target price on shares of Stride in a report on Thursday, July 24th. William Blair reiterated an “outperform” rating on shares of Stride in a research note on Wednesday, April 30th. BMO Capital Markets reissued an “outperform” rating on shares of Stride in a report on Thursday, May 1st. Canaccord Genuity Group raised their price target on Stride from $145.00 to $155.00 and gave the company a “buy” rating in a report on Monday, April 28th. Finally, Wall Street Zen upgraded shares of Stride from a “hold” rating to a “buy” rating in a research note on Saturday, June 21st. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $143.40.

Stride Stock Performance

Shares of Stride stock opened at $149.60 on Wednesday. Stride has a 12 month low of $63.25 and a 12 month high of $162.30. The firm has a market capitalization of $6.53 billion, a P/E ratio of 24.85, a P/E/G ratio of 0.85 and a beta of 0.10. The company has a current ratio of 5.39, a quick ratio of 5.53 and a debt-to-equity ratio of 0.31. The business has a fifty day simple moving average of $138.65 and a two-hundred day simple moving average of $137.67.

Stride (NYSE:LRN) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.46. Stride had a net margin of 11.97% and a return on equity of 25.51%. The company had revenue of $653.65 million during the quarter, compared to analyst estimates of $626.23 million. During the same period last year, the business earned $1.42 EPS. Stride’s quarterly revenue was up 22.4% compared to the same quarter last year. On average, equities analysts forecast that Stride will post 6.67 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of LRN. Penserra Capital Management LLC purchased a new stake in shares of Stride during the second quarter valued at $27,000. Larson Financial Group LLC lifted its stake in Stride by 333.3% during the 1st quarter. Larson Financial Group LLC now owns 208 shares of the company’s stock valued at $26,000 after acquiring an additional 160 shares during the period. First Horizon Advisors Inc. boosted its holdings in shares of Stride by 140.5% during the 1st quarter. First Horizon Advisors Inc. now owns 267 shares of the company’s stock valued at $34,000 after acquiring an additional 156 shares during the last quarter. Golden State Wealth Management LLC boosted its holdings in shares of Stride by 37.5% during the 2nd quarter. Golden State Wealth Management LLC now owns 275 shares of the company’s stock valued at $40,000 after acquiring an additional 75 shares during the last quarter. Finally, Cullen Frost Bankers Inc. grew its stake in shares of Stride by 129.6% in the second quarter. Cullen Frost Bankers Inc. now owns 326 shares of the company’s stock worth $47,000 after acquiring an additional 184 shares during the period. Hedge funds and other institutional investors own 98.24% of the company’s stock.

About Stride

Stride, Inc, a technology-based education service company, engages in the provision of proprietary and third-party online curriculum, software systems, and educational services in the United States and internationally. Its technology-based products and services enable clients to attract, enroll, educate, track progress, support, and facilitate individualized learning for students.