Overview
- Shares tumbled by roughly half in heavy trading the day after the release, following an initial 34% drop in extended hours, according to Benzinga Pro data.
- The company forecast second-quarter revenue of $620 million to $640 million and full-year revenue of $2.48 billion to $2.56 billion, both below consensus estimates.
- BMO Capital downgraded the stock to Market Perform from Outperform and cut its price target to $108, adding pressure to trading, analyst Jeffrey Silber said.
- First-quarter fiscal 2026 revenue rose to $620.9 million and adjusted earnings per share reached $1.52, both above analyst expectations.
- Stride reported 11.3% total enrollment growth and 20% growth in Career Learning enrollments, while cash and marketable securities fell to $749.6 million from $1,011.4 million on June 30.