Stride (NYSE:LRN) Shares Gap Down – What’s Next?

Shares of Stride, Inc. (NYSE:LRN) gapped down prior to trading on Wednesday . The stock had previously closed at $70.59, but opened at $68.97. Stride shares last traded at $69.22, with a volume of 741,917 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages recently commented on LRN. Citigroup downgraded Stride from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $77.00 to $90.00 in a research note on Tuesday, August 20th. Barrington Research reaffirmed an “outperform” rating and set a $90.00 price target on shares of Stride in a research report on Friday, October 11th. StockNews.com upgraded Stride from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Canaccord Genuity Group initiated coverage on shares of Stride in a report on Thursday, August 8th. They set a “buy” rating and a $94.00 target price on the stock. Finally, BMO Capital Markets upped their price target on shares of Stride from $79.00 to $82.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.83.

Stride Stock Down 5.2 %

The stock’s fifty day moving average price is $80.75 and its 200-day moving average price is $72.44. The company has a quick ratio of 4.95, a current ratio of 5.10 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $2.90 billion, a price-to-earnings ratio of 16.57, a P/E/G ratio of 0.74 and a beta of 0.26.

Stride (NYSE:LRN) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.15. The firm had revenue of $534.18 million for the quarter, compared to analyst estimates of $525.89 million. Stride had a net margin of 10.01% and a return on equity of 19.12%. The company’s revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.01 EPS. On average, sell-side analysts predict that Stride, Inc. will post 5.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. William Blair Investment Management LLC grew its stake in shares of Stride by 20.1% in the second quarter. William Blair Investment Management LLC now owns 2,122,102 shares of the company’s stock valued at $149,608,000 after buying an additional 355,614 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Stride by 2.7% in the 1st quarter. Janus Henderson Group PLC now owns 1,154,995 shares of the company’s stock valued at $72,821,000 after purchasing an additional 30,854 shares during the period. Swedbank AB bought a new position in Stride during the first quarter worth about $60,385,000. Vaughan Nelson Investment Management L.P. acquired a new position in Stride during the second quarter worth approximately $43,387,000. Finally, Price T Rowe Associates Inc. MD raised its stake in Stride by 641.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 508,444 shares of the company’s stock valued at $32,058,000 after buying an additional 439,911 shares during the period. 98.24% of the stock is currently owned by institutional investors.

Stride Company Profile

Stride, Inc, a technology-based education service company, engages in the provision of proprietary and third-party online curriculum, software systems, and educational services in the United States and internationally. Its technology-based products and services enable clients to attract, enroll, educate, track progress, support, and facilitate individualized learning for students.