Stride (NYSE:LRN) Releases Earnings Results, Beats Estimates By $0.13 EPS

Stride (NYSE:LRN) posted its earnings results on Tuesday. The company reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.13, Briefing.com reports. The company had revenue of $520.84 million during the quarter, compared to analyst estimates of $507.89 million. Stride had a return on equity of 17.77% and a net margin of 8.80%. Stride’s revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.30 earnings per share. Stride updated its FY 2024 guidance to EPS.

Stride Stock Performance

Shares of LRN stock traded up $6.42 during trading on Wednesday, hitting $64.62. The company’s stock had a trading volume of 343,597 shares, compared to its average volume of 753,996. The business has a fifty day moving average of $60.31 and a 200-day moving average of $58.16. Stride has a 52 week low of $35.61 and a 52 week high of $69.70. The company has a market cap of $2.80 billion, a PE ratio of 16.14, a P/E/G ratio of 0.67 and a beta of 0.26. The company has a current ratio of 4.52, a quick ratio of 4.44 and a debt-to-equity ratio of 0.43.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on LRN shares. Morgan Stanley lifted their price target on shares of Stride from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 24th. Citigroup upped their price target on Stride from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, January 29th. BMO Capital Markets increased their target price on Stride from $71.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Wedbush reiterated an “outperform” rating on shares of Stride in a research report on Wednesday, January 24th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $75.00 price target on shares of Stride in a research note on Wednesday, April 17th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Stride has an average rating of “Moderate Buy” and a consensus target price of $71.75.

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.