Shares of DeVry Education, also known as Adtalem Global Education (ATGE), surged by 5.69% on October 30, 2024, as the company benefited from a combination of strong quarterly results and positive analyst sentiment.
The education provider reported better-than-expected earnings for the quarter ended September 30, 2024. Adtalem Global Education posted adjusted earnings per share of $1.29, surpassing analysts' average estimate of $1.14. Moreover, the company's revenue rose 13.2% year-over-year to $417.4 million, exceeding Wall Street's expectations of $397.7 million.
The robust financial performance was complemented by a positive analyst action from Barrington. Analyst Alexander Paris raised the firm's price target on Adtalem Global Education to $95 from $90, while reiterating an Outperform rating on the stock. Paris's bullish stance likely provided an additional boost to the company's shares on the day.
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