$47.06 Million in Sales Expected for Nerdy, Inc. (NYSE:NRDY) This Quarter

Wall Street analysts expect that Nerdy, Inc. (NYSE:NRDYGet Rating) will post sales of $47.06 million for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Nerdy’s earnings, with the highest sales estimate coming in at $47.40 million and the lowest estimate coming in at $46.50 million. Nerdy posted sales of $34.57 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 36.1%. The company is expected to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Nerdy will report full-year sales of $198.05 million for the current fiscal year, with estimates ranging from $197.10 million to $199.04 million. For the next year, analysts anticipate that the business will post sales of $262.67 million, with estimates ranging from $253.50 million to $267.51 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Nerdy.

Several brokerages have recently weighed in on NRDY. Zacks Investment Research raised Nerdy from a “sell” rating to a “hold” rating in a research report on Thursday, January 20th. Raymond James cut their target price on Nerdy from $9.00 to $7.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 1st. Cantor Fitzgerald initiated coverage on Nerdy in a research report on Tuesday, March 29th. They set an “overweight” rating and a $7.00 price target on the stock. The Goldman Sachs Group initiated coverage on Nerdy in a research report on Friday, January 7th. They set a “buy” rating and a $8.00 price target on the stock. Finally, Needham & Company LLC cut their price target on Nerdy from $13.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, March 1st. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Nerdy currently has an average rating of “Buy” and an average target price of $9.67.

Shares of NRDY traded down $0.03 during midday trading on Tuesday, hitting $4.54. The company had a trading volume of 175,088 shares, compared to its average volume of 458,383. The company’s 50-day simple moving average is $4.59 and its 200-day simple moving average is $6.01. The firm has a market capitalization of $717.77 million, a P/E ratio of -37.83 and a beta of -0.37. Nerdy has a 1 year low of $3.78 and a 1 year high of $13.49.

In other Nerdy news, CEO Charles K. Cohn purchased 221,408 shares of Nerdy stock in a transaction that occurred on Wednesday, March 2nd. The stock was purchased at an average price of $4.52 per share, with a total value of $1,000,764.16. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

A hedge fund recently raised its stake in Nerdy stock. Bank of America Corp DE raised its position in shares of Nerdy, Inc. (NYSE:NRDYGet Rating) by 13.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 56,160 shares of the company’s stock after purchasing an additional 6,767 shares during the quarter. Bank of America Corp DE owned about 0.10% of Nerdy worth $558,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 55.11% of the company’s stock.

Nerdy Company Profile (Get Rating)

Nerdy, Inc operates platform for live online learning. The company's purpose-built proprietary platform leverages technology, including AI, to connect learners of various ages to experts, delivering value on both sides of the network. Its learning destination provides learning experiences across various subjects and multiple formats, including one-on-one instruction, small group classes, large format group classes, and adaptive self-study.

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