Canaccord Genuity Group Forecasts Strong Price Appreciation for Stride (NYSE:LRN) Stock

Stride (NYSE:LRN) had its price target boosted by equities research analysts at Canaccord Genuity Group from $135.00 to $145.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would suggest a potential upside of 20.10% from the company’s current price.

A number of other equities analysts have also weighed in on the company. Morgan Stanley boosted their target price on Stride from $94.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. Barrington Research boosted their price objective on shares of Stride from $130.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Finally, BMO Capital Markets raised their target price on shares of Stride from $122.00 to $134.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Stride currently has an average rating of “Moderate Buy” and a consensus price target of $119.33.

Stride Trading Down 2.0 %

NYSE:LRN opened at $120.74 on Tuesday. The stock has a market cap of $5.26 billion, a price-to-earnings ratio of 20.16, a PEG ratio of 1.04 and a beta of 0.46. The company has a quick ratio of 5.93, a current ratio of 6.02 and a debt-to-equity ratio of 0.35. The company’s 50 day moving average price is $125.87 and its 200-day moving average price is $103.39. Stride has a 52 week low of $56.17 and a 52 week high of $145.00.

Stride (NYSE:LRN) last issued its earnings results on Tuesday, January 28th. The company reported $2.03 EPS for the quarter, beating the consensus estimate of $1.92 by $0.11. Stride had a return on equity of 22.42% and a net margin of 12.30%. On average, equities research analysts forecast that Stride will post 6.67 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Stride

A number of institutional investors and hedge funds have recently made changes to their positions in LRN. R Squared Ltd bought a new position in Stride in the fourth quarter worth approximately $37,000. Point72 Hong Kong Ltd purchased a new stake in shares of Stride in the 4th quarter worth $41,000. CIBC Private Wealth Group LLC raised its holdings in Stride by 85.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 386 shares of the company’s stock worth $42,000 after purchasing an additional 178 shares during the period. Covestor Ltd lifted its position in Stride by 51.6% during the fourth quarter. Covestor Ltd now owns 632 shares of the company’s stock valued at $66,000 after purchasing an additional 215 shares in the last quarter. Finally, Gen Wealth Partners Inc bought a new stake in Stride during the fourth quarter valued at about $75,000. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Stride Company Profile

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.