Why Stride Stock Surged 16% Wednesday Morning
Shares of online educational software company Stride (NYSE: LRN), formerly known as K12, surged 16% through 10:05 a.m. ET after delivering a surprise earnings beat Wednesday morning.
Heading into the company's fiscal Q1 2024, analysts had forecast Stride would lose $0.35 per share on sales of $451.2 million. Instead, Stride earned an $0.11-per-share profit, beating sales estimates as well with $480.2 million in quarterly revenue.
Quarterly sales climbed 13% year over year (YOY) to set a new quarterly record for Stride. But even better than that was the earnings news: Instead of the loss that Wall Street had predicted, Stride reported operating and net profits, flipping from a $0.54-per-share loss last year to an $0.11-per-share profit this time around.
Source Fool.com
Stride Inc. Stock
Stride Inc. is currently one of the favorites of our community with 15 Buy predictions and no Sell predictions.
However, we have a potential of -1.47% for Stride Inc. as the target price of 67 € is below the current price of 68.0 €.
