Stride (NYSE:LRN – Get Rating) posted its earnings results on Tuesday. The company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.12, Briefing.com reports. The company had revenue of $458.44 million for the quarter, compared to the consensus estimate of $443.23 million. Stride had a return on equity of 11.60% and a net margin of 5.28%. Stride’s revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.00 earnings per share. Stride updated its FY 2023 guidance to EPS and its Q3 2023 guidance to EPS.
Stride Price Performance
LRN stock traded up $6.79 during midday trading on Wednesday, reaching $38.79. The company had a trading volume of 920,744 shares, compared to its average volume of 510,534. Stride has a 1-year low of $30.66 and a 1-year high of $47.35. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.22 and a quick ratio of 3.12. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of 19.24, a price-to-earnings-growth ratio of 0.76 and a beta of 0.30. The stock has a 50 day moving average price of $33.18 and a 200-day moving average price of $37.63.
Analysts Set New Price Targets
Several brokerages recently weighed in on LRN. BMO Capital Markets cut their price target on Stride from $52.00 to $50.00 and set an “outperform” rating for the company in a research note on Thursday, October 27th. StockNews.com lowered shares of Stride from a “buy” rating to a “hold” rating in a research report on Thursday, October 27th. Finally, Morgan Stanley dropped their price target on shares of Stride from $43.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 4th.
Institutional Trading of Stride
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.
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