Stride (LRN), an online educator, continues to excel. The growth of sales and profits has been accelerating over the last two quarters. On Thursday, Stride stock achieved an important milestone. Its Relative Strength Rating (RS) rating jumped to 87 from 70, an increase of 17 points. Stride stock also soared 13.1% on Wednesday after a positive earnings report.
Stride Stock Joins 80-Plus RS Rating Club
The company's stock, which is based in Washington, D.C., has a RS Rating of 87, meaning that it outperforms 87% of other stocks when it comes to price performance. The RS rating is a significant number because, according to market research, the biggest market winners have an RS Rating of 80 or higher when they begin their largest runs.
Stride reported 27% growth in earnings for the quarter ended March 31, to $1.30 a share. This is up from 19% growth during the previous quarter. Sales increased 12%, to $470.3 Million. This is the same as the previous quarter.
Stride's stock has a Composite Rating of 95 out of 99, the highest possible. The number of top-rated funds that hold Stride stock continues to increase. The number of top-rated mutual funds holding Stride stock has increased from 454 in September, to 461 in march.
The Stride Stock is Up by Nearly 60% Since Early 2022
Stride stock rose about 59% Thursday afternoon from a low of 26,59 in January 2022 to 42,25. It had broken out before, but it has now fallen below the previous 44.37 entry after a consolidation. It is scrambling to rise above the buy point.
Stride Stock is ranked No. 2 among its peers in the Consumer Services-Education industry group. Stride stock is ranked No. 2 among peers in the Consumer Services - Education industry group. New Oriental Education, based in China (EDU), and Laureate Education, a small-cap stock based in Florida (LAUR), are also high-rated stocks. The group ranks at a respectable No. IBD's list includes 197 different industries.
IBD's proprietary Relative strength rating tracks market leadership using a score ranging from 1 (worst), to 99 (best), which indicates how the price movement of a stock over the past 52 weeks compares with that of other stocks.