Citigroup Issues Positive Forecast for Stride (NYSE:LRN) Stock Price

Stride (NYSE:LRN) had its price target increased by Citigroup from $90.00 to $94.00 in a research report sent to investors on Tuesday, Benzinga reports. Citigroup currently has a neutral rating on the stock.

Other equities analysts have also recently issued research reports about the company. Canaccord Genuity Group began coverage on Stride in a report on Thursday, August 8th. They issued a “buy” rating and a $94.00 price target on the stock. Canaccord Genuity Group raised their price target on Stride from $94.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. StockNews.com cut Stride from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. BMO Capital Markets raised their price target on Stride from $84.00 to $88.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Barrington Research raised their price target on Stride from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $90.17.

Stride Stock Performance

Shares of NYSE:LRN opened at $93.31 on Tuesday. Stride has a twelve month low of $54.61 and a twelve month high of $96.07. The firm has a market cap of $4.07 billion, a PE ratio of 16.97, a price-to-earnings-growth ratio of 0.64 and a beta of 0.26. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.95 and a current ratio of 5.10. The business has a fifty day moving average of $80.33 and a 200-day moving average of $73.77.

Stride (NYSE:LRN) last announced its earnings results on Tuesday, October 22nd. The company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.72. Stride had a return on equity of 21.76% and a net margin of 11.38%. The company had revenue of $551.08 million during the quarter, compared to analyst estimates of $504.29 million. During the same period last year, the company posted $0.11 earnings per share. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. On average, equities research analysts predict that Stride will post 5.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Todd Goldthwaite sold 8,028 shares of Stride stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $91.54, for a total transaction of $734,883.12. Following the transaction, the director now owns 85,058 shares in the company, valued at $7,786,209.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.76% of the company’s stock.

Hedge Funds Weigh In On Stride

Several institutional investors have recently modified their holdings of LRN. William Blair Investment Management LLC bought a new position in shares of Stride during the 1st quarter valued at about $111,377,000. Swedbank AB bought a new position in shares of Stride during the 1st quarter valued at about $60,385,000. Vaughan Nelson Investment Management L.P. acquired a new stake in Stride in the 2nd quarter valued at approximately $43,387,000. Congress Asset Management Co. acquired a new stake in Stride in the 3rd quarter valued at approximately $45,616,000. Finally, Victory Capital Management Inc. raised its position in Stride by 1,443.6% in the 2nd quarter. Victory Capital Management Inc. now owns 479,941 shares of the company’s stock valued at $33,836,000 after buying an additional 448,849 shares during the last quarter. 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.