Stride (NYSE:LRN) Announces Quarterly Earnings Results

Stride (NYSE:LRN) announced its quarterly earnings results on Tuesday. The company reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.13, Briefing.com reports. Stride had a return on equity of 18.29% and a net margin of 9.29%. The business had revenue of $520.84 million during the quarter, compared to analysts’ expectations of $507.89 million. During the same quarter last year, the business posted $1.30 earnings per share. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. Stride updated its FY 2024 guidance to EPS.

Stride Stock Up 2.3 %

Shares of NYSE:LRN traded up $1.50 during trading on Friday, hitting $67.86. The company’s stock had a trading volume of 169,391 shares, compared to its average volume of 775,649. Stride has a fifty-two week low of $35.61 and a fifty-two week high of $69.70. The stock’s 50-day moving average price is $60.32 and its two-hundred day moving average price is $58.29. The company has a debt-to-equity ratio of 0.40, a quick ratio of 4.44 and a current ratio of 4.29. The company has a market capitalization of $2.94 billion, a PE ratio of 15.90, a PEG ratio of 0.70 and a beta of 0.26.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on LRN shares. StockNews.com lowered shares of Stride from a “buy” rating to a “hold” rating in a report on Thursday. BMO Capital Markets upped their price target on shares of Stride from $72.00 to $73.00 and gave the stock an “outperform” rating in a research report on Thursday. Citigroup boosted their price objective on shares of Stride from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, January 29th. Wedbush reaffirmed an “outperform” rating on shares of Stride in a research report on Wednesday, January 24th. Finally, Barrington Research restated an “outperform” rating and issued a $75.00 price objective on shares of Stride in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Stride presently has a consensus rating of “Moderate Buy” and an average price target of $72.00.

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.