Stride price target raised to $175 from $165 at Canaccord

Canaccord raised the firm’s price target on Stride (LRN) to $175 from $165 and keeps a Buy rating on the shares. The firm updated its model ahead of Q1 results where all eyes will be on fiscal Q1 enrollment growth, along with how that translates into the full-year revenue and profitability outlook. Canaccord expects Stride’s decision to break from tradition and offer preliminary enrollment guidance on its last earnings call signals confidence that the continued optimization of marketing investments and increased awareness of full-time online schools are fueling heightened application volumes.