Stride (NYSE:LRN) Shares Cross Above Two Hundred Day Moving Average – What’s Next?
by Doug Wharley · The Cerbat GemStride, Inc. (NYSE:LRN – Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $78.91 and traded as high as $88.00. Stride shares last traded at $87.7620, with a volume of 417,635 shares traded.
Wall Street Analysts Forecast Growth
LRN has been the topic of a number of research reports. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $125.00 price target on shares of Stride in a research note on Wednesday, January 28th. Barrington Research reaffirmed an “outperform” rating and issued a $125.00 price target on shares of Stride in a research note on Thursday, April 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Stride in a research report on Friday, April 10th. Wall Street Zen downgraded shares of Stride from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Stride in a research report on Tuesday, March 3rd. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Stride presently has a consensus rating of “Hold” and a consensus price target of $109.75.
View Our Latest Stock Analysis on Stride
Stride Price Performance
The company has a debt-to-equity ratio of 0.29, a current ratio of 6.21 and a quick ratio of 6.14. The stock’s fifty day simple moving average is $90.59 and its 200-day simple moving average is $78.98. The company has a market capitalization of $3.77 billion, a P/E ratio of 13.69, a PEG ratio of 0.53 and a beta of 0.13.
Stride (NYSE:LRN – Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The company reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.09. Stride had a net margin of 12.15% and a return on equity of 25.20%. The company had revenue of $629.87 million during the quarter, compared to analysts’ expectations of $629.69 million. During the same period in the prior year, the company earned $2.02 earnings per share. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities analysts forecast that Stride, Inc. will post 8.21 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Stride
Several hedge funds have recently made changes to their positions in LRN. Wellington Grp LLC lifted its stake in Stride by 427.2% during the first quarter. Wellington Grp LLC now owns 17,656 shares of the company’s stock worth $1,557,000 after purchasing an additional 14,307 shares during the period. Systematic Alpha Investments LLC bought a new position in Stride during the first quarter worth about $260,000. Janus Henderson Group PLC lifted its stake in Stride by 61.0% during the first quarter. Janus Henderson Group PLC now owns 2,277,279 shares of the company’s stock worth $200,799,000 after purchasing an additional 862,849 shares during the period. Cim LLC lifted its stake in Stride by 4.0% during the first quarter. Cim LLC now owns 4,706 shares of the company’s stock worth $415,000 after purchasing an additional 179 shares during the period. Finally, Amundi bought a new position in Stride during the first quarter worth about $538,000. Institutional investors own 98.24% of the company’s stock.
About Stride
Stride, Inc (NYSE:LRN) is a technology-driven education company that designs and delivers online learning solutions for students and adult learners. Through long-term partnerships with state-authorized public school districts, Stride operates virtual academies that serve K-12 students across the United States. The company’s blended-learning model combines digital curriculum, live teaching support and data analytics to personalize instruction and monitor student progress.
In addition to its K-12 offerings, Stride provides a portfolio of career and workforce readiness programs under its Stride Career Prep division.