Stride (NYSE:LRN) Now Covered by Analysts at Canaccord Genuity Group

Canaccord Genuity Group started coverage on shares of Stride (NYSE:LRN) in a research note issued to investors on Thursday morning, MarketBeat.com reports. The firm issued a buy rating and a $94.00 target price on the stock.

Several other equities research analysts have also issued reports on LRN. StockNews.com lowered shares of Stride from a buy rating to a hold rating in a report on Thursday, August 1st. BMO Capital Markets raised their price target on shares of Stride from $72.00 to $73.00 and gave the company an outperform rating in a research note on Thursday, April 25th. Barrington Research boosted their price objective on shares of Stride from $75.00 to $85.00 and gave the stock an outperform rating in a research note on Wednesday, July 31st. Finally, Canaccord Genuity Group began coverage on Stride in a report on Thursday. They issued a buy rating and a $94.00 price objective for the company. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Stride presently has an average rating of Moderate Buy and an average target price of $83.33.

Stride Price Performance

Shares of NYSE LRN traded up $1.22 during midday trading on Thursday, reaching $81.99. The company’s stock had a trading volume of 1,376,877 shares, compared to its average volume of 712,810. The company has a debt-to-equity ratio of 0.40, a quick ratio of 4.21 and a current ratio of 4.29. The company has a market cap of $3.55 billion, a P/E ratio of 19.25, a P/E/G ratio of 0.74 and a beta of 0.28. The business’s 50 day moving average price is $70.50 and its two-hundred day moving average price is $65.68. Stride has a fifty-two week low of $38.15 and a fifty-two week high of $82.12.

Stride (NYSE:LRN) last released its earnings results on Tuesday, August 6th. The company reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.15. Stride had a return on equity of 18.29% and a net margin of 9.29%. The firm had revenue of $534.18 million during the quarter, compared to the consensus estimate of $525.89 million. During the same period in the prior year, the company posted $1.01 EPS. The company’s revenue was up 10.5% compared to the same quarter last year. On average, analysts forecast that Stride will post 4.55 EPS for the current fiscal year.

Hedge Funds Weigh In On Stride

Hedge funds have recently bought and sold shares of the company. William Blair Investment Management LLC boosted its position in Stride by 20.1% during the second quarter. William Blair Investment Management LLC now owns 2,122,102 shares of the company’s stock valued at $149,608,000 after acquiring an additional 355,614 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of Stride by 2.7% in the 1st quarter. Janus Henderson Group PLC now owns 1,154,995 shares of the company’s stock valued at $72,821,000 after purchasing an additional 30,854 shares during the period. Swedbank AB bought a new stake 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 during the second quarter worth approximately $43,387,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in Stride by 641.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 508,444 shares of the company’s stock worth $32,058,000 after purchasing an additional 439,911 shares in the last quarter. Institutional investors own 98.24% of the company’s stock.

About Stride

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.