American Public Education Inc (NASDAQ:APEI) shares are surging today. B.Riley Securities analyst Raj Sharma reiterated a Buy rating on the shares and raised the price target from $12 to $15.
Yesterday, the company reported 4Q/FY23 results, beating handily on top and bottom with 4Q revenue and adjusted EBITDA of $152.8 million and $25.7 million that compared to Street view of $150.5 million/$16.1 million.
Net course registrations for APUS (the Military mainstay) were up 4% Y/Y, Rasmussen (RU) enrollment was down 10% Y/Y, and Hondros College of Nursing (HCN) …