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

Stride (NYSE:LRN) had its price objective boosted by Canaccord Genuity Group from $94.00 to $100.00 in a research report released on Wednesday, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

LRN has been the topic of several other research reports. Barrington Research reissued an “outperform” rating and issued a $90.00 target price on shares of Stride in a research note on Friday, October 11th. StockNews.com raised shares of Stride from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. BMO Capital Markets increased their target price on shares of Stride from $79.00 to $82.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Citigroup downgraded shares of Stride from a “buy” rating to a “neutral” rating and increased their target price for the company from $77.00 to $90.00 in a research note on Tuesday, August 20th. Finally, Canaccord Genuity Group assumed coverage on shares of Stride in a research note on Thursday, August 8th. They issued a “buy” rating and a $94.00 target price on the stock. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $89.50.

Stride Price Performance

LRN stock opened at $91.28 on Wednesday. Stride has a 52 week low of $51.75 and a 52 week high of $92.75. The company has a quick ratio of 4.95, a current ratio of 5.10 and a debt-to-equity ratio of 0.38. The company has a fifty day simple moving average of $79.68 and a two-hundred day simple moving average of $73.01. The firm has a market capitalization of $3.95 billion, a P/E ratio of 16.60, a price-to-earnings-growth ratio of 0.64 and a beta of 0.26.

Stride (NYSE:LRN) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.22 by $0.72. Stride had a net margin of 11.38% and a return on equity of 21.76%. The business had revenue of $551.08 million during the quarter, compared to analyst estimates of $504.29 million. During the same quarter last year, the business earned $0.11 earnings per share. Stride’s quarterly revenue was up 14.8% compared to the same quarter last year. Analysts anticipate that Stride will post 5.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Motco purchased a new position in Stride during the 1st quarter valued at about $74,000. EntryPoint Capital LLC purchased a new position in Stride during the 1st quarter valued at about $77,000. nVerses Capital LLC purchased a new position in Stride during the 2nd quarter valued at about $78,000. Mendota Financial Group LLC purchased a new position in Stride during the 3rd quarter valued at about $86,000. Finally, Advisors Asset Management Inc. increased its position in Stride by 38.0% during the 1st quarter. Advisors Asset Management Inc. now owns 2,740 shares of the company’s stock valued at $173,000 after purchasing an additional 754 shares during the period. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Stride Company Profile

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.