Nerdy, Inc. (NYSE:NRDY) has been a topic of conversation among investors and analysts alike. According to Bloomberg Ratings, the firm has received an average recommendation of “Moderate Buy” from the ten research firms that are currently covering it. Of those ten firms, two have given a hold recommendation while seven have assigned a buy recommendation to the company. This mixed sentiment is reflected in the stock’s 12-month target price which stands at $4.90.
Nerdy last reported its quarterly earnings results on February 28th, revealing that it had topped the consensus estimate with earnings per share (EPS) of ($0.13), beating expectations by $0.05. Despite this positive news, Nerdy still had a negative return on equity of 98.82%, and a negative net margin of 21.76%. The company generated revenue of $41.80 million for the quarter, surpassing analyst estimates of $40.02 million.
As previously mentioned, Nerdy operates a platform for live online learning; this purpose-built proprietary platform utilizes advanced technologies such as artificial intelligence (AI) to connect learners of all ages with industry experts across various subject areas and learning formats such as one-on-one instruction, small group classes, large format group classes and adaptive self-study programs.
Given its current market position and innovative approach to education technology business model; Nerdy is well poised to keep investors interested in the long-term.
As research analysts continue to evaluate Nerdy’s performance over time along with monitoring technological advancements; we can expect further updates and recommendations being communicated within the market sphere as they arise. As always it is prudent for investors to perform their due diligence by carefully researching any potential investments along with obtaining financial advice if needed before making any investment decisions accordingly.
The year ahead will be interesting indeed – given the tremendous strides made in technology (AI/adaptive learning systems) coupled with increased demand for online education services, Nerdy’s inventory of interactive products and service offerings will likely help boost sales and attract more customers making them a force to be watched in the edtech space.
Nerdy, Inc. Receives Promising Analyst Ratings and Insider Trading in Q1 2023
April 21, 2023 marks an important date for Nerdy, Inc., a company that operates a platform for live online learning. As of Friday, the shares of NRDY stock opened at $3.98 with a market cap of $657.18 million, a P/E ratio of -9.26 and a beta of 1.63. This is quite significant given the recent positive ratings from equities research analysts.
On March 1st, Needham & Company LLC reissued its “buy” rating on shares of Nerdy and issued a $5.00 target price in a research note. Cantor Fitzgerald also boosted their target price on Nerdy from $4.00 to $6.00 and gave the company an “overweight” rating on the same day. Additionally, Raymond James increased their target price on Nerdy from $3.50 to $4.00 and gave the company an “outperform” rating while The Goldman Sachs Group raised their target price from $3.00 to $3.50 and gave the company a “neutral” rating.
This surge in positive analyst ratings may have influenced some insiders like Christopher C. Swenson and CFO Jason H. Pello who sold 15,000 shares each while another insider sold 152,503 shares worth $464,218 in Q1 2023 alone.
Moreover, several hedge funds and other institutional investors have made changes to their positions in NRDY with BlackRock Inc., owning 280,159 shares worth $1,426,000 after adding an additional 9,796 shares during Q1 2023.
Nerdy’s learning destination provides learning experiences across various subjects and multiple formats such as one-on-one instruction, small group classes, large format group classes and adaptive self-study utilizing technology including AI which connects learners of all ages to experts delivering value on both sides of the network.
This combination of positive analyst ratings, insider trading and institutional investment changes do highlight a promising outlook for Nerdy’s future. As such, it would be interesting to watch how the company’s market value grows in the coming quarters.