Nerdy (NRDY) – Investment Analysts’ Recent Ratings Changes

A number of research firms have changed their ratings and price targets for Nerdy (NYSE: NRDY):

  • 5/17/2022 – Nerdy was downgraded by analysts at The Goldman Sachs Group, Inc. from a “buy” rating to a “neutral” rating. They now have a $3.00 price target on the stock, down previously from $8.00.
  • 5/17/2022 – Nerdy had its price target lowered by analysts at JMP Securities from $11.00 to $7.00. They now have a “market outperform” rating on the stock.
  • 5/17/2022 – Nerdy had its price target lowered by analysts at Needham & Company LLC from $8.00 to $4.00. They now have a “buy” rating on the stock.
  • 5/17/2022 – Nerdy had its price target lowered by analysts at Northland Securities from $10.00 to $5.00.
  • 5/17/2022 – Nerdy had its price target lowered by analysts at JPMorgan Chase & Co. from $11.00 to $7.00.
  • 5/17/2022 – Nerdy had its price target lowered by analysts at Canaccord Genuity Group Inc. from $10.00 to $8.00.
  • 3/29/2022 – Nerdy is now covered by analysts at Cantor Fitzgerald. They set an “overweight” rating and a $7.00 price target on the stock.

Shares of NYSE:NRDY traded up $0.02 during midday trading on Thursday, reaching $1.75. 2,772,732 shares of the company were exchanged, compared to its average volume of 646,982. The business’s fifty day moving average is $4.04 and its two-hundred day moving average is $4.83. Nerdy, Inc. has a one year low of $1.59 and a one year high of $13.49. The stock has a market cap of $276.67 million, a PE ratio of -6.73 and a beta of 0.52.

Nerdy (NYSE:NRDYGet Rating) last issued its earnings results on Monday, February 28th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.39. Nerdy had a negative net margin of 13.70% and a negative return on equity of 79.11%. The firm had revenue of $42.02 million during the quarter, compared to analyst estimates of $41.65 million. As a group, sell-side analysts forecast that Nerdy, Inc. will post -0.91 earnings per share for the current fiscal year.

In other news, CEO Charles K. Cohn bought 221,408 shares of Nerdy stock in a transaction dated Wednesday, March 2nd. The shares were acquired at an average price of $4.52 per share, with a total value of $1,000,764.16. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 31.08% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Bank of America Corp DE increased its stake in Nerdy by 13.7% in the 2nd quarter. Bank of America Corp DE now owns 56,160 shares of the company’s stock worth $558,000 after buying an additional 6,767 shares during the period. ACR Alpine Capital Research LLC purchased a new position in Nerdy in the 1st quarter worth about $696,000. Sciencast Management LP purchased a new position in Nerdy during the 1st quarter valued at about $99,000. Davy Global Fund Management Ltd purchased a new position in Nerdy during the 1st quarter valued at about $164,000. Finally, Clear Harbor Asset Management LLC purchased a new position in Nerdy during the 1st quarter valued at about $74,000. 56.01% of the stock is currently owned by institutional investors and hedge funds.

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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