Stride (NYSE:LRN) Sets New 12-Month Low – Here’s What Happened

by · The Markets Daily

Stride, Inc. (NYSE:LRN – Get Free Report) hit a new 52-week low during trading on Wednesday . The company traded as low as $61.67 and last traded at $62.17, with a volume of 170850 shares changing hands. The stock had previously closed at $62.14.

Wall Street Analyst Weigh In

LRN has been the subject of several recent analyst reports. Wall Street Zen downgraded Stride from a “buy” rating to a “hold” rating in a research note on Saturday, October 4th. Zacks Research downgraded Stride from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 30th. Canaccord Genuity Group boosted their price objective on Stride from $165.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, October 24th. Morgan Stanley increased their price target on shares of Stride from $148.00 to $159.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 6th. Finally, BMO Capital Markets set a $108.00 target price on Stride and gave the company a “market perform” rating in a research note on Wednesday, October 29th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Stride has a consensus rating of “Hold” and an average price target of $141.75.

Get Our Latest Report on Stride

Stride Stock Performance

The stock’s 50 day moving average is $106.56 and its 200 day moving average is $132.67. The company has a current ratio of 6.78, a quick ratio of 6.69 and a debt-to-equity ratio of 0.32. The firm has a market cap of $2.72 billion, a price-to-earnings ratio of 9.56, a price-to-earnings-growth ratio of 0.37 and a beta of 0.03.

Stride (NYSE:LRN – Get Free Report) last posted its earnings results on Tuesday, October 28th. The company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.23 by $0.29. Stride had a return on equity of 26.29% and a net margin of 12.76%.The company had revenue of $620.88 million for the quarter, compared to the consensus estimate of $615.50 million. During the same quarter in the prior year, the business earned $0.94 earnings per share. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. Analysts anticipate that Stride, Inc. will post 6.67 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Invesco Ltd. lifted its stake in shares of Stride by 1.3% in the 3rd quarter. Invesco Ltd. now owns 1,805,508 shares of the company’s stock valued at $268,912,000 after acquiring an additional 23,488 shares during the last quarter. William Blair Investment Management LLC raised its holdings in shares of Stride by 37.2% during the third quarter. William Blair Investment Management LLC now owns 1,511,080 shares of the company’s stock valued at $225,060,000 after purchasing an additional 410,029 shares during the period. Squarepoint Ops LLC raised its stake in Stride by 88.6% during the 2nd quarter. Squarepoint Ops LLC now owns 1,086,879 shares of the company’s stock worth $157,804,000 after buying an additional 510,641 shares during the period. Geode Capital Management LLC boosted its holdings in Stride by 2.4% in the second quarter. Geode Capital Management LLC now owns 1,045,904 shares of the company’s stock worth $151,873,000 after acquiring an additional 24,889 shares in the last quarter. Finally, Swedbank AB increased its holdings in shares of Stride by 5.4% during the first quarter. Swedbank AB now owns 1,009,726 shares of the company’s stock valued at $127,730,000 after acquiring an additional 52,000 shares in the last quarter. Institutional investors own 98.24% of the company’s stock.

About Stride

(Get Free Report)

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.

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