Technology-Based Education Company Stride Forecasts EPS To More Than Double By 2028: Details
Portfolio Pulse from Lekha Gupta
Stride Inc (NYSE:LRN) has shared its long-term strategy, forecasting significant growth by FY28 with expected revenue between $2.7 billion and $3.3 billion, adjusted operating income of $415 million to $585 million, and EPS of $6.15 to $8.35. CEO James Rhyu highlighted plans for product innovation and market expansion. Stride's Q1 FY24 results exceeded expectations, with revenue of $480.2 million and EPS of $0.11, surpassing the consensus and an expected EPS loss. The company anticipates Q2 revenue of $490 million to $510 million and adjusted operating income of $80 million to $90 million, with FY24 revenue projected at $1.96 billion to $2.03 billion and adjusted operating income of $250 million to $275 million. LRN shares rose 2.15% to close at $57.96 on Tuesday.
November 15, 2023 | 10:43 am
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Stride Inc anticipates substantial growth by FY28 with a revenue forecast of $2.7B-$3.3B and EPS of $6.15-$8.35. Q1 FY24 results exceeded expectations, and the company has a positive outlook for Q2 and FY24.
Stride's positive long-term forecast and recent earnings beat are likely to instill investor confidence and could lead to a short-term increase in stock price. The company's clear strategy for growth and market expansion, along with its strong Q1 performance, suggest a positive outlook that may attract investors looking for growth opportunities in the education technology sector.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100