Stride (LRN – Research Report), the Consumer Defensive sector company, was revisited by a Wall Street analyst today. Analyst Alexander Paris from Barrington reiterated a Buy rating on the stock and has a $170.00 price target.
Alexander Paris has given his Buy rating due to a combination of factors including Stride’s impressive financial performance and optimistic future guidance. The company’s third-quarter results surpassed expectations, with a notable revenue increase of 17.8% and a record rise in enrollment figures. Additionally, Stride’s adjusted EBITDA saw a significant growth of 39.6%, reflecting strong operational efficiency.
Furthermore, Stride’s management has raised its full-year guidance, projecting higher revenue and operating income than previously anticipated. The stock is currently trading at a discount compared to its peers, despite similar growth metrics, which presents an attractive investment opportunity. Given these positive developments and the favorable market conditions, Paris has reiterated an OUTPERFORM rating and increased the price target to $170, suggesting a potential upside of approximately 20%.