Canaccord Genuity Group Increases Stride (NYSE:LRN) Price Target to $100.00

Stride (NYSE:LRN) had its price objective upped by equities research analysts at Canaccord Genuity Group from $94.00 to $100.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective indicates a potential upside of 8.37% from the company’s previous close.

Several other analysts also recently issued reports on the stock. Canaccord Genuity Group started coverage on shares of Stride in a research note on Thursday, August 8th. They set a “buy” rating and a $94.00 target price on the stock. StockNews.com raised Stride from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. BMO Capital Markets raised their price objective on Stride from $79.00 to $82.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Barrington Research reiterated an “outperform” rating and issued a $90.00 target price on shares of Stride in a report on Friday, October 11th. Finally, Citigroup lowered shares of Stride from a “buy” rating to a “neutral” rating and increased their price target for the stock from $77.00 to $90.00 in a research report on Tuesday, August 20th. 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 stock has an average rating of “Moderate Buy” and a consensus price target of $89.50.

Stride Trading Up 2.9 %

Shares of LRN opened at $92.28 on Wednesday. The business’s 50-day moving average price is $79.51 and its 200 day moving average price is $72.80. The company has a current ratio of 5.10, a quick ratio of 4.95 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $3.99 billion, a P/E ratio of 21.66, a P/E/G ratio of 0.74 and a beta of 0.26. Stride has a 1-year low of $50.28 and a 1-year high of $92.75.

Stride (NYSE:LRN) last released its earnings results on Tuesday, October 22nd. The company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.72. Stride had a net margin of 10.01% and a return on equity of 19.12%. The business had revenue of $551.08 million for the quarter, compared to the consensus estimate of $504.29 million. During the same period last year, the firm posted $0.11 earnings per share. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. Analysts expect that Stride will post 5.05 earnings per share for the current year.

Institutional Investors Weigh In On Stride

Institutional investors have recently made changes to their positions in the company. Nordea Investment Management AB raised its position in Stride by 48.9% during the first quarter. Nordea Investment Management AB now owns 105,630 shares of the company’s stock valued at $6,698,000 after acquiring an additional 34,682 shares in the last quarter. UniSuper Management Pty Ltd acquired a new position in shares of Stride during the 1st quarter worth $555,000. Blue Trust Inc. raised its holdings in shares of Stride by 795.5% during the 2nd quarter. Blue Trust Inc. now owns 11,543 shares of the company’s stock valued at $814,000 after purchasing an additional 10,254 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Stride in the 2nd quarter valued at $534,000. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in Stride by 24.6% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 36,000 shares of the company’s stock worth $3,071,000 after purchasing an additional 7,100 shares in the last quarter. 98.24% of the stock is currently owned by institutional investors and hedge funds.

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.