** Shares of edutech firm Stride rise 24.6% to $80.35 premarket
** Co reported Q1 revenue of $551.1 mln, beating estimates compiled by LSEG of $504.3 mln
** Q1 FY25 enrollments were 222.6K, up 18.5% compared to 187.9K enrollments last year; co says strong demand drove record enrollment
** EPS of 94 cents was also above estimates of 22 cents - LSEG
** Co sees FY rev $2.225 bln to $2.300 bln and FY capital expenditures between $60 mln to $65 mln
** Forecasts Q2 rev of $560 mln to $580 mln and Q2 capital expenditures between $13 mln to $15 mln
** Morgan Stanley raises target price to $94 from $74, maintains "equal-weight"
** Brokerage says Stride has achieved a fundamental step-up in its organic revenue growth profile vs. history due to increased virtual education awareness and strategic go-to-market
improvements
** Avg rating of analysts covering stock is "buy"; median PT is $90 - LSEG data
** As of last close, stock up 8.6% YTD
(Reporting by Sukriti Gupta in Bengaluru)
((Sukriti.Gupta@thomsonreuters.com;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.