Nerdy, Inc. (NYSE:NRDY) Receives $3.58 Consensus Target Price from Analysts

Nerdy, Inc. (NYSE:NRDY) has received an average rating of “Hold” from the eleven ratings firms that are covering the stock, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $3.58.

Several analysts have recently weighed in on the stock. JMP Securities lowered their target price on shares of Nerdy from $5.00 to $3.00 and set a “market outperform” rating on the stock in a report on Friday, August 9th. Raymond James downgraded shares of Nerdy from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th. Barclays lowered their target price on shares of Nerdy from $4.00 to $3.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. Northland Securities downgraded shares of Nerdy from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $5.00 to $3.00 in a report on Friday, August 9th. Finally, Canaccord Genuity Group reaffirmed a “hold” rating and issued a $3.00 target price (down previously from $5.00) on shares of Nerdy in a report on Friday, August 9th.

Nerdy Stock Performance

NYSE NRDY opened at $0.93 on Thursday. The firm has a market cap of $166.06 million, a PE ratio of -2.83 and a beta of 1.67. Nerdy has a one year low of $0.73 and a one year high of $3.60. The firm’s fifty day moving average is $1.00 and its two-hundred day moving average is $1.54.

Nerdy (NYSE:NRDY) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.04. The company had revenue of $50.98 million for the quarter, compared to analyst estimates of $51.14 million. Nerdy had a negative net margin of 17.23% and a negative return on equity of 41.05%. During the same period in the previous year, the business posted ($0.07) earnings per share. Research analysts predict that Nerdy will post -0.48 earnings per share for the current year.

Insider Buying and Selling

In other Nerdy news, CEO Charles K. Cohn purchased 10,993,192 shares of Nerdy stock in a transaction on Friday, August 16th. The shares were bought at an average price of $0.89 per share, with a total value of $9,783,940.88. Following the completion of the acquisition, the chief executive officer now directly owns 13,110,718 shares of the company’s stock, valued at approximately $11,668,539.02. This trade represents a 500.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Nerdy news, CEO Charles K. Cohn purchased 2,170,291 shares of Nerdy stock in a transaction on Monday, August 19th. The shares were bought at an average price of $1.03 per share, with a total value of $2,235,399.73. Following the completion of the acquisition, the chief executive officer now directly owns 13,025,870 shares of the company’s stock, valued at approximately $13,416,646.10. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Charles K. Cohn purchased 10,993,192 shares of Nerdy stock in a transaction on Friday, August 16th. The stock was acquired at an average cost of $0.89 per share, for a total transaction of $9,783,940.88. Following the acquisition, the chief executive officer now directly owns 13,110,718 shares of the company’s stock, valued at approximately $11,668,539.02. This represents a 500.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 13,212,528 shares of company stock valued at $12,063,972. Corporate insiders own 31.35% of the company’s stock.

Institutional Trading of Nerdy

Several institutional investors and hedge funds have recently modified their holdings of the business. nVerses Capital LLC acquired a new position in shares of Nerdy in the second quarter valued at approximately $34,000. SG Americas Securities LLC acquired a new position in shares of Nerdy in the third quarter valued at approximately $29,000. AM Investment Strategies LLC acquired a new position in shares of Nerdy in the third quarter valued at approximately $29,000. Bayesian Capital Management LP acquired a new position in shares of Nerdy in the first quarter valued at approximately $101,000. Finally, Rhumbline Advisers raised its position in shares of Nerdy by 11.6% in the second quarter. Rhumbline Advisers now owns 84,739 shares of the company’s stock valued at $142,000 after buying an additional 8,834 shares during the last quarter. Hedge funds and other institutional investors own 39.10% of the company’s stock.

Nerdy Company Profile

Nerdy, Inc operates platform for live online learning. The company's purpose-built proprietary platform leverages technology, including artificial intelligence to connect students, users, parents, guardians, and purchasers of various ages to tutors, instructors, subject matter experts, educators, and other professionals, delivering value on both sides of the network.