Stride (NYSE:LRN) Issues Quarterly Earnings Results, Beats Expectations By $0.13 EPS

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

Stride Stock Up 2.3 %

NYSE LRN traded up $1.50 on Friday, reaching $67.86. The company had a trading volume of 169,391 shares, compared to its average volume of 775,649. The firm has a market capitalization of $2.94 billion, a PE ratio of 15.90, a P/E/G ratio of 0.70 and a beta of 0.26. The firm has a 50-day moving average of $60.32 and a 200-day moving average of $58.29. Stride has a 1 year low of $35.61 and a 1 year high of $69.70. The company has a debt-to-equity ratio of 0.40, a current ratio of 4.29 and a quick ratio of 4.44.

Analysts Set New Price Targets

Several analysts have weighed in on LRN shares. Wedbush reiterated an “outperform” rating on shares of Stride in a research note on Wednesday, January 24th. Barrington Research restated an “outperform” rating and set a $75.00 price target on shares of Stride in a research report on Wednesday. Citigroup boosted their price target on shares of Stride from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, January 29th. Morgan Stanley upped their price objective on Stride from $60.00 to $65.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 24th. Finally, BMO Capital Markets increased their target price on shares of Stride from $72.00 to $73.00 and gave the company an “outperform” rating in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.