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

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

Stride Stock Up 11.0 %

Shares of NYSE:LRN traded up $6.42 during midday trading on Wednesday, reaching $64.62. The company had a trading volume of 343,597 shares, compared to its average volume of 753,996. The stock has a market capitalization of $2.80 billion, a P/E ratio of 16.14, a PEG ratio of 0.67 and a beta of 0.26. The stock’s fifty day moving average price is $60.31 and its 200-day moving average price is $58.16. Stride has a one year low of $35.61 and a one year high of $69.70. The company has a debt-to-equity ratio of 0.43, a current ratio of 4.52 and a quick ratio of 4.44.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on LRN shares. Barrington Research reaffirmed an “outperform” rating and issued a $75.00 price target on shares of Stride in a research note on Wednesday, April 17th. Wedbush reissued an “outperform” rating on shares of Stride in a research note on Wednesday, January 24th. 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 report on Wednesday, January 24th. Citigroup increased 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. Finally, BMO Capital Markets boosted their price target on Stride from $71.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target 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.