Stride (NYSE:LRN) Reaches New 12-Month Low – What’s Next?

by · The Cerbat Gem

Stride, Inc. (NYSE:LRN – Get Free Report)’s share price reached a new 52-week low during trading on Wednesday . The stock 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 Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Barrington Research dropped their price target on shares of Stride from $185.00 to $125.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 29th. Canaccord Genuity Group raised their price target on Stride from $165.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, October 24th. Weiss Ratings reissued a “hold (c+)” rating on shares of Stride in a research note on Monday. Wall Street Zen lowered shares of Stride from a “buy” rating to a “hold” rating in a research report on Saturday, October 4th. Finally, BMO Capital Markets set a $108.00 price objective on shares of Stride and gave the stock a “market perform” rating in a report on Wednesday, October 29th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Stride currently has an average rating of “Hold” and a consensus price target of $141.75.

Check Out Our Latest Report on Stride

Stride Stock Up 2.6%

The stock has a market capitalization of $2.75 billion, a P/E ratio of 9.66, a price-to-earnings-growth ratio of 0.36 and a beta of 0.03. The firm has a 50 day moving average of $103.16 and a 200-day moving average of $131.68. The company has a debt-to-equity ratio of 0.32, a current ratio of 6.78 and a quick ratio of 6.69.

Stride (NYSE:LRN – Get Free Report) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.29. Stride had a net margin of 12.76% and a return on equity of 26.29%. The company had revenue of $620.88 million during the quarter, compared to analysts’ expectations of $615.50 million. The business’s revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.94 EPS. On average, equities research analysts expect that Stride, Inc. will post 6.67 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in LRN. Golden State Wealth Management LLC grew its holdings in Stride by 37.5% during the 2nd quarter. Golden State Wealth Management LLC now owns 275 shares of the company’s stock worth $40,000 after acquiring an additional 75 shares during the last quarter. Rezny Wealth Management Inc. increased its holdings in shares of Stride by 0.6% in the second quarter. Rezny Wealth Management Inc. now owns 14,152 shares of the company’s stock valued at $2,055,000 after purchasing an additional 83 shares in the last quarter. Vident Advisory LLC lifted its holdings in Stride by 2.9% during the 1st quarter. Vident Advisory LLC now owns 2,941 shares of the company’s stock worth $372,000 after buying an additional 84 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Stride by 78.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 193 shares of the company’s stock valued at $28,000 after buying an additional 85 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its stake in shares of Stride by 3.1% in the 2nd quarter. Quadrant Capital Group LLC now owns 3,173 shares of the company’s stock valued at $461,000 after buying an additional 94 shares during the period. 98.24% of the stock is owned by institutional investors.

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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