Morgan Stanley Increases Stride (NYSE:LRN) Price Target to $57.00

Posted by on Oct 27th, 2023

Stride (NYSE:LRN – Get Free Report) had its target price lifted by stock analysts at Morgan Stanley from $52.00 to $57.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s target price indicates a potential upside of 7.04% from the stock’s current price.

Several other analysts also recently issued reports on the stock. Barrington Research reissued an “outperform” rating and set a $50.00 target price on shares of Stride in a research note on Wednesday, August 16th. BMO Capital Markets boosted their target price on shares of Stride from $49.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, August 16th. Finally, StockNews.com started coverage on shares of Stride in a research note on Thursday, October 5th. They set a “buy” rating on the stock.

Get Our Latest Analysis on Stride

Stride Stock Performance

Shares of NYSE LRN opened at $53.25 on Wednesday. The company has a quick ratio of 3.33, a current ratio of 3.45 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $2.29 billion, a price-to-earnings ratio of 14.75, a PEG ratio of 0.68 and a beta of 0.26. The stock’s fifty day simple moving average is $44.42 and its 200 day simple moving average is $41.15. Stride has a 52-week low of $30.66 and a 52-week high of $54.42.

Stride (NYSE:LRN – Get Free Report) last issued its earnings results on Tuesday, October 24th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.50. The business had revenue of $480.18 million for the quarter, compared to analysts’ expectations of $456.24 million. Stride had a return on equity of 17.23% and a net margin of 8.16%. As a group, sell-side analysts forecast that Stride will post 3.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Ronald Blue Trust Inc. increased its stake in Stride by 348.1% in the 3rd quarter. Ronald Blue Trust Inc. now owns 578 shares of the company’s stock valued at $26,000 after buying an additional 449 shares during the period. UBS Group AG acquired a new position in Stride in the second quarter worth approximately $30,000. Tower Research Capital LLC TRC increased its holdings in Stride by 51.7% in the first quarter. Tower Research Capital LLC TRC now owns 1,015 shares of the company’s stock worth $40,000 after buying an additional 346 shares during the last quarter. Quarry LP increased its holdings in Stride by 138.5% in the first quarter. Quarry LP now owns 1,052 shares of the company’s stock worth $41,000 after buying an additional 611 shares during the last quarter. Finally, Wolverine Asset Management LLC increased its holdings in Stride by 124.1% in the first quarter. Wolverine Asset Management LLC now owns 1,302 shares of the company’s stock worth $51,000 after buying an additional 6,700 shares during the last quarter. Institutional investors and hedge funds own 98.24% of the company’s stock.

About Stride

(Get Free Report)

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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