Analysts Set Nerdy, Inc. (NYSE:NRDY) Price Target at $4.82

Nerdy, Inc. (NYSE:NRDY) has been assigned an average rating of “Moderate Buy” from the six ratings firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $4.82.

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. assumed coverage on shares of Nerdy in a report on Monday, March 11th. They set an “overweight” rating and a $5.00 price target for the company. Needham & Company LLC restated a “buy” rating and issued a $4.00 price objective on shares of Nerdy in a report on Friday, May 17th. Finally, The Goldman Sachs Group increased their price objective on Nerdy from $3.25 to $3.75 and gave the company a “neutral” rating in a report on Thursday, May 9th.

Nerdy Price Performance

NYSE NRDY opened at $1.66 on Friday. The business has a fifty day moving average price of $2.03 and a two-hundred day moving average price of $2.70. Nerdy has a fifty-two week low of $1.47 and a fifty-two week high of $5.37. The stock has a market capitalization of $290.78 million, a PE ratio of -5.91 and a beta of 1.74.

Nerdy (NYSE:NRDY) last released its earnings results on Tuesday, May 7th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.04. Nerdy had a negative return on equity of 41.24% and a negative net margin of 14.49%. The firm had revenue of $53.73 million during the quarter, compared to analysts’ expectations of $52.20 million. During the same period in the prior year, the company earned ($0.12) earnings per share. The company’s quarterly revenue was up 9.2% on a year-over-year basis. As a group, sell-side analysts expect that Nerdy will post -0.31 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Charles K. Cohn acquired 353,000 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were bought at an average price of $1.59 per share, with a total value of $561,270.00. Following the transaction, the chief executive officer now directly owns 353,000 shares of the company’s stock, valued at $561,270. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Christopher C. Swenson sold 30,000 shares of the firm’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $2.53, for a total value of $75,900.00. Following the transaction, the insider now owns 1,203,248 shares of the company’s stock, valued at approximately $3,044,217.44. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Charles K. Cohn purchased 353,000 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was acquired at an average cost of $1.59 per share, for a total transaction of $561,270.00. Following the transaction, the chief executive officer now owns 353,000 shares in the company, valued at approximately $561,270. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 1,200,275 shares of company stock worth $2,131,511. Company insiders own 31.35% of the company’s stock.

Hedge Funds Weigh In On Nerdy

Hedge funds have recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in shares of Nerdy during the 4th quarter worth $50,000. Tower Research Capital LLC TRC lifted its stake in Nerdy by 1,765.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 15,051 shares of the company’s stock worth $52,000 after purchasing an additional 14,244 shares during the last quarter. PEAK6 Investments LLC purchased a new position in shares of Nerdy in the third quarter valued at about $56,000. Aigen Investment Management LP bought a new position in shares of Nerdy during the third quarter valued at about $59,000. Finally, S Squared Technology LLC bought a new position in shares of Nerdy during the third quarter valued at about $111,000. Institutional investors own 39.10% of the company’s stock.

About Nerdy

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.