Canaccord Genuity Group Cuts Nerdy (NYSE:NRDY) Price Target to $7.00

Nerdy (NYSE:NRDYGet Rating) had its target price lowered by equities research analysts at Canaccord Genuity Group from $8.00 to $7.00 in a report released on Friday, The Fly reports. Canaccord Genuity Group’s price objective indicates a potential upside of 192.89% from the stock’s current price.

Other equities analysts also recently issued reports about the company. The Goldman Sachs Group downgraded Nerdy from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $8.00 to $3.00 in a research report on Tuesday, May 17th. Northland Securities decreased their target price on shares of Nerdy from $10.00 to $5.00 in a research report on Tuesday, May 17th. JPMorgan Chase & Co. dropped their price target on shares of Nerdy from $11.00 to $7.00 in a research report on Tuesday, May 17th. Barclays decreased their price target on shares of Nerdy from $9.00 to $5.00 in a report on Tuesday, March 1st. Finally, Raymond James dropped their price objective on Nerdy from $9.00 to $7.00 and set an “outperform” rating for the company in a report on Tuesday, March 1st. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Nerdy has a consensus rating of “Buy” and a consensus price target of $6.60.

NYSE:NRDY opened at $2.39 on Friday. Nerdy has a 12-month low of $1.59 and a 12-month high of $13.49. The firm has a market cap of $377.85 million, a price-to-earnings ratio of -9.19 and a beta of 0.52. The company’s 50-day moving average is $3.76 and its two-hundred day moving average is $4.58.

Nerdy (NYSE:NRDYGet Rating) last announced its quarterly earnings data on Monday, February 28th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.39. Nerdy had a negative net margin of 13.70% and a negative return on equity of 55.71%. The business had revenue of $42.02 million for the quarter, compared to the consensus estimate of $41.65 million. As a group, equities analysts predict that Nerdy will post -1.22 earnings per share for the current year.

In related news, CEO Charles K. Cohn acquired 221,408 shares of the business’s stock in a transaction that occurred on Wednesday, March 2nd. The shares were acquired at an average cost of $4.52 per share, for a total transaction of $1,000,764.16. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jason H. Pello bought 27,000 shares of the firm’s stock in a transaction that occurred on Friday, May 20th. The stock was bought at an average price of $1.86 per share, with a total value of $50,220.00. Following the transaction, the chief financial officer now directly owns 503,920 shares in the company, valued at $937,291.20. The disclosure for this purchase can be found here. Insiders have acquired a total of 260,908 shares of company stock valued at $1,072,234 over the last three months. 31.08% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Nerdy by 3.4% during the first quarter. Vanguard Group Inc. now owns 2,344,570 shares of the company’s stock worth $11,934,000 after acquiring an additional 76,776 shares during the period. Woodline Partners LP boosted its position in shares of Nerdy by 49.5% during the 1st 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 in the last quarter. J. Goldman & Co LP grew its stake in shares of Nerdy by 50.1% in the 1st quarter. J. Goldman & Co LP now owns 1,613,487 shares of the company’s stock worth $8,213,000 after purchasing an additional 538,784 shares during the last quarter. G2 Investment Partners Management LLC raised its holdings in shares of Nerdy by 5.0% in the 1st quarter. G2 Investment Partners Management LLC now owns 427,500 shares of the company’s stock worth $2,176,000 after purchasing an additional 20,535 shares in the last quarter. Finally, BlackRock Inc. lifted its stake in Nerdy by 3.6% during the first quarter. BlackRock Inc. now owns 280,159 shares of the company’s stock valued at $1,426,000 after purchasing an additional 9,796 shares during the last quarter. 56.01% of the stock is currently owned by hedge funds and other institutional investors.

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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