Why Is Adtalem Global Education Stock Soaring Today?
Portfolio Pulse from Lekha Gupta
Adtalem Global Education Inc's stock is soaring after reporting better-than-expected Q1 FY24 results and issuing FY24 guidance. The company reported a 4.1% Y/Y revenue growth to $368.8 million, beating the consensus of $357.3 million. Student enrollment rose 1.9% Y/Y to 81,073. The company also repurchased shares worth $92 million. Baird upgraded the stock to Outperform from Neutral and raised its price target to $55 from $47.
October 27, 2023 | 6:18 pm
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Adtalem Global Education's stock is soaring after reporting better-than-expected Q1 FY24 results and issuing FY24 guidance. Baird upgraded the stock to Outperform from Neutral and raised its price target to $55 from $47.
Adtalem Global Education reported better-than-expected Q1 FY24 results and issued FY24 guidance, which has led to a surge in its stock price. The company's revenue and student enrollment growth, along with its share repurchase program, are positive indicators for investors. Additionally, Baird's upgrade of the stock to Outperform from Neutral and its raised price target further boost investor confidence in the stock.
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