Canaccord Genuity Group Forecasts Strong Price Appreciation for Stride (NYSE:LRN) Stock

Stride (NYSE:LRN) had its price objective increased by Canaccord Genuity Group from $135.00 to $145.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 20.98% from the stock’s previous close.

LRN has been the topic of a number of other reports. Morgan Stanley boosted their price target on Stride from $94.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. BMO Capital Markets boosted their price target on Stride from $122.00 to $134.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Finally, Barrington Research boosted their price target on Stride from $130.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $119.33.

Stride Stock Performance

Stride stock opened at $119.86 on Tuesday. The company has a current ratio of 6.02, a quick ratio of 5.93 and a debt-to-equity ratio of 0.35. The firm has a 50-day moving average of $126.48 and a 200-day moving average of $103.94. The firm has a market cap of $5.22 billion, a P/E ratio of 20.01, a P/E/G ratio of 1.04 and a beta of 0.46. Stride has a 1-year low of $56.17 and a 1-year high of $145.00.

Stride (NYSE:LRN) last posted its earnings results on Tuesday, January 28th. The company reported $2.03 earnings per share for the quarter, topping analysts’ consensus estimates of $1.92 by $0.11. Stride had a net margin of 12.30% and a return on equity of 22.42%. Sell-side analysts expect that Stride will post 6.67 EPS for the current year.

Institutional Investors Weigh In On Stride

Several hedge funds and other institutional investors have recently modified their holdings of LRN. R Squared Ltd purchased a new stake in shares of Stride in the 4th quarter worth $37,000. Point72 Hong Kong Ltd purchased a new stake in shares of Stride in the 4th quarter worth $41,000. CIBC Private Wealth Group LLC increased its stake in shares of Stride by 85.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 386 shares of the company’s stock worth $42,000 after purchasing an additional 178 shares in the last quarter. Covestor Ltd increased its stake in shares of Stride by 51.6% in the 4th quarter. Covestor Ltd now owns 632 shares of the company’s stock worth $66,000 after purchasing an additional 215 shares in the last quarter. Finally, Gen Wealth Partners Inc purchased a new stake in shares of Stride in the 4th quarter worth $75,000. 98.24% of the stock is currently owned by hedge funds and other institutional investors.

About Stride

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.