Nerdy, Inc., a live online learning platform, has garnered a range of recommendations from analysts, with a consensus rating of “Hold.” According to MarketBeat.com, eleven brokerages have covered the company, with eight analysts suggesting a hold, two recommending a buy, and one giving a strong buy recommendation. The average 12-month price target stands at $3.58.
JPMorgan Chase & Co. downgraded Nerdy from an “overweight” rating to “neutral,” while Cantor Fitzgerald upgraded the stock to a “strong-buy” rating. JMP Securities lowered its price target from $5.00 to $3.00 but maintained a “market outperform” rating. Canaccord Genuity Group reaffirmed a hold rating with a reduced price target of $3.00. Additionally, Northland Capmk downgraded Nerdy from a “strong-buy” to a “hold” rating.
In its most recent earnings report, Nerdy posted better-than-expected results for the quarter. The company reported earnings per share of ($0.08), surpassing analysts’ consensus estimate of ($0.12) by $0.04. Revenue for the quarter was $50.98 million, slightly lower than the projected $51.14 million. Nerdy’s return on equity was negative at 41.05%, and it had a negative net margin of 17.23%. In the same period last year, the company reported earnings per share of ($0.07).
CEO Charles K. Cohn has been active in purchasing Nerdy’s stock. He acquired 2,170,291 shares at an average cost of $1.03 per share, totaling $2,235,399.73. Following this transaction, Cohn now holds 13,025,870 shares valued at approximately $13,416,646.10. In a separate filing, Cohn purchased an additional 10,993,192 shares at an average cost of $0.89 per share, amounting to $9,783,940.88. The CEO now owns 13,110,718 shares valued at $11,668,539.02. Insiders have collectively purchased 14,363,758 shares, representing 31.35% of the company’s stock.
Several hedge funds have also shown interest in Nerdy. nVerses Capital LLC acquired a stake valued at about $34,000, while Bayesian Capital Management LP purchased shares worth approximately $101,000. Rhumbline Advisers increased its stake by 11.6% and now owns 84,739 shares valued at $142,000. Algert Global LLC grew its stake by 171.6% and now holds 111,026 shares worth $185,000. XTX Topco Ltd increased its holdings by 1,064.9% and now owns 184,001 shares valued at $307,000. Institutional investors currently own 39.10% of the company’s stock.
Nerdy, Inc. operates a proprietary platform that connects students, users, parents, guardians, and purchasers with tutors, instructors, subject matter experts, educators, and professionals. The platform utilizes artificial intelligence and aims to deliver value to both sides of the network.