Stride (NYSE:LRN) Announces Quarterly Earnings Results

Stride (NYSE:LRN) announced its earnings results on Tuesday. The company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.13, Briefing.com reports. The business had revenue of $520.84 million for the quarter, compared to analysts’ expectations of $507.89 million. Stride had a return on equity of 18.86% and a net margin of 9.29%. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period last year, the firm posted $1.30 earnings per share. Stride updated its FY 2024 guidance to EPS.

Stride Stock Performance

NYSE:LRN opened at $63.20 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 4.52 and a quick ratio of 4.44. Stride has a 1 year low of $35.61 and a 1 year high of $69.70. The stock’s 50 day simple moving average is $60.26 and its two-hundred day simple moving average is $58.25. The company has a market cap of $2.74 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 0.67 and a beta of 0.26.

Analysts Set New Price Targets

Several research firms have recently commented on LRN. StockNews.com raised Stride from a “hold” rating to a “buy” rating in a research note on Tuesday, April 2nd. Citigroup raised their price objective on Stride from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, January 29th. Morgan Stanley raised their price objective on Stride from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 24th. Barrington Research reaffirmed an “outperform” rating and issued a $75.00 price objective on shares of Stride in a research note on Wednesday. Finally, BMO Capital Markets raised their price objective on Stride from $71.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $71.75.

Stride Company Profile

Stride, Inc, a technology-based education service company, provides proprietary and third-party online curriculum, software systems, and educational services to facilitate individualized learning for students primarily in kindergarten through 12th grade (K-12) in the United States and internationally.