William Blair Comments on Stride, Inc.’s FY2024 Earnings (NYSE:LRN)

Stride, Inc. (NYSE:LRN) – Equities researchers at William Blair increased their FY2024 earnings per share estimates for shares of Stride in a note issued to investors on Wednesday, April 24th. William Blair analyst S. Sheldon now expects that the company will post earnings of $4.60 per share for the year, up from their previous forecast of $4.25. The consensus estimate for Stride’s current full-year earnings is $4.31 per share. William Blair also issued estimates for Stride’s Q4 2024 earnings at $1.34 EPS, Q1 2025 earnings at $0.23 EPS, Q2 2025 earnings at $1.67 EPS, Q3 2025 earnings at $1.73 EPS and Q4 2025 earnings at $1.41 EPS.

Stride (NYSE:LRN) last announced its earnings results on Tuesday, April 23rd. The company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.13. Stride had a return on equity of 18.86% and a net margin of 9.29%. The firm had revenue of $520.84 million for the quarter, compared to the consensus estimate of $507.89 million. During the same period in the previous year, the business earned $1.30 EPS. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis.

Other analysts have also recently issued research reports about the company. Citigroup lifted their price target on Stride from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, January 29th. Barrington Research reaffirmed an “outperform” rating and set a $75.00 price target on shares of Stride in a research report on Wednesday. Wedbush reissued an “outperform” rating on shares of Stride in a report on Wednesday, January 24th. StockNews.com raised Stride from a “hold” rating to a “buy” rating in a report on Tuesday, April 2nd. Finally, Morgan Stanley boosted their price objective on Stride from $60.00 to $65.00 and gave the company an “equal weight” rating in a report on Wednesday, January 24th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Stride presently has an average rating of “Moderate Buy” and a consensus price target of $71.75.

Stride Stock Performance

Shares of LRN opened at $63.20 on Thursday. The stock has a 50-day moving average of $60.26 and a two-hundred day moving average of $58.25. 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 quick ratio of 4.44 and a current ratio of 4.52. The stock has a market cap of $2.74 billion, a P/E ratio of 14.84, a P/E/G ratio of 0.67 and a beta of 0.26.

Hedge Funds Weigh In On Stride

A number of large investors have recently bought and sold shares of LRN. SG Capital Management LLC raised its holdings in Stride by 348.7% in the 3rd quarter. SG Capital Management LLC now owns 563,218 shares of the company’s stock worth $25,362,000 after purchasing an additional 437,685 shares during the period. Norges Bank acquired a new position in Stride in the 4th quarter worth about $25,594,000. Cooper Creek Partners Management LLC raised its holdings in Stride by 89.1% in the 3rd quarter. Cooper Creek Partners Management LLC now owns 472,934 shares of the company’s stock worth $21,296,000 after purchasing an additional 222,866 shares during the period. Russell Investments Group Ltd. raised its holdings in Stride by 147.8% in the 4th quarter. Russell Investments Group Ltd. now owns 312,044 shares of the company’s stock worth $18,526,000 after purchasing an additional 186,099 shares during the period. Finally, Wellington Management Group LLP raised its holdings in Stride by 48.3% in the 3rd quarter. Wellington Management Group LLP now owns 325,831 shares of the company’s stock worth $14,672,000 after purchasing an additional 106,091 shares during the period. Institutional investors and hedge funds own 98.24% of the company’s stock.

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.