Needham & Company LLC Trims Nerdy (NYSE:NRDY) Target Price to $4.00

Nerdy (NYSE:NRDYGet Rating) had its target price dropped by Needham & Company LLC from $8.00 to $4.00 in a research note issued to investors on Tuesday, The Fly reports. Needham & Company LLC’s target price would indicate a potential upside of 55.64% from the stock’s previous close.

A number of other equities analysts also recently issued reports on NRDY. Cantor Fitzgerald assumed coverage on shares of Nerdy in a report on Tuesday, March 29th. They issued an “overweight” rating and a $7.00 price target for the company. JMP Securities cut their price target on shares of Nerdy from $13.00 to $11.00 and set a “market outperform” rating for the company in a report on Tuesday, March 1st. Barclays cut their price target on shares of Nerdy from $9.00 to $5.00 in a report on Tuesday, March 1st. Raymond James lowered their price objective on shares of Nerdy from $9.00 to $7.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 1st. Finally, Zacks Investment Research raised shares of Nerdy from a “sell” rating to a “hold” rating in a research note on Thursday, January 20th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $8.67.

NRDY stock opened at $2.57 on Tuesday. The company has a fifty day moving average price of $4.14 and a 200 day moving average price of $4.87. Nerdy has a 12 month low of $2.47 and a 12 month high of $13.49. The company has a market cap of $406.32 million, a price-to-earnings ratio of -21.41 and a beta of 0.52.

Nerdy (NYSE:NRDYGet Rating) last announced its quarterly earnings data on Monday, February 28th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.39. The company had revenue of $42.02 million during the quarter, compared to the consensus estimate of $41.65 million. Nerdy had a negative net margin of 7.00% and a negative return on equity of 117.54%. As a group, research analysts anticipate that Nerdy will post -0.91 EPS for the current year.

In other Nerdy news, CEO Charles K. Cohn purchased 221,408 shares of the business’s stock in a transaction that occurred on Wednesday, March 2nd. The shares were purchased at an average price of $4.52 per share, for a total transaction of $1,000,764.16. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 31.08% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. G2 Investment Partners Management LLC raised its stake in shares of Nerdy by 5.0% during the first quarter. G2 Investment Partners Management LLC now owns 427,500 shares of the company’s stock valued at $2,176,000 after purchasing an additional 20,535 shares during the period. Woodline Partners LP raised its stake in shares of Nerdy by 49.5% during the first quarter. Woodline Partners LP now owns 2,297,088 shares of the company’s stock valued at $11,692,000 after purchasing an additional 760,917 shares during the period. State Street Corp raised its stake in shares of Nerdy by 424.7% during the first quarter. State Street Corp now owns 214,601 shares of the company’s stock valued at $1,092,000 after purchasing an additional 173,701 shares during the period. J. Goldman & Co LP raised its stake in shares of Nerdy by 50.1% during the first quarter. J. Goldman & Co LP now owns 1,613,487 shares of the company’s stock valued at $8,213,000 after purchasing an additional 538,784 shares during the period. Finally, Engineers Gate Manager LP raised its stake in shares of Nerdy by 14.0% during the first quarter. Engineers Gate Manager LP now owns 50,519 shares of the company’s stock valued at $257,000 after purchasing an additional 6,213 shares during the period. Institutional investors own 56.01% 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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