Shares of Stride Inc. (LRN) surged by an impressive 6.65% in pre-market trading on Wednesday, driven by the company's strong quarterly performance and an analyst's optimism on the stock.
Stride reported record-breaking financial results for its second quarter, with robust metrics across the board. The impressive earnings figures fueled investor confidence, leading to a significant rally in the company's stock during the pre-market session.
Adding to the bullish sentiment, Canaccord Genuity, a prominent analyst firm, raised its price target for Stride to $135 from $130, while maintaining a Buy rating on the stock. The analysts cited the company's exceptional quarterly performance as the primary catalyst for the price target increase, further boosting investor optimism.
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