Nerdy (NYSE:NRDY) Price Target Raised to $3.75

Nerdy (NYSE:NRDY) had its target price upped by stock analysts at The Goldman Sachs Group from $3.25 to $3.75 in a report issued on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 55.60% from the company’s current price.

Other research analysts have also recently issued reports about the company. JPMorgan Chase & Co. initiated coverage on Nerdy in a research note on Monday, March 11th. They set an “overweight” rating and a $5.00 price target on the stock. Needham & Company LLC restated a “buy” rating and set a $4.00 target price on shares of Nerdy in a report on Wednesday. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $4.82.

Nerdy Stock Performance

Shares of Nerdy stock opened at $2.41 on Thursday. Nerdy has a fifty-two week low of $1.92 and a fifty-two week high of $5.37. The firm has a market capitalization of $418.64 million, a price-to-earnings ratio of -5.74 and a beta of 1.90. The stock has a 50 day moving average of $2.79 and a 200 day moving average of $2.95.

Nerdy (NYSE:NRDY) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.04. Nerdy had a negative return on equity of 48.96% and a negative net margin of 20.77%. The firm had revenue of $53.73 million during the quarter, compared to the consensus estimate of $52.20 million. During the same period last year, the company earned ($0.12) EPS. The company’s quarterly revenue was up 9.2% on a year-over-year basis. Analysts forecast that Nerdy will post -0.33 EPS for the current year.

Insider Activity

In other Nerdy news, CEO Charles K. Cohn acquired 75,000 shares of the stock in a transaction on Wednesday, March 13th. The shares were bought at an average cost of $2.79 per share, with a total value of $209,250.00. Following the transaction, the chief executive officer now owns 185,704 shares of the company’s stock, valued at approximately $518,114.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Christopher C. Swenson sold 25,000 shares of Nerdy stock in a transaction on Monday, March 18th. The shares were sold at an average price of $2.96, for a total transaction of $74,000.00. Following the transaction, the insider now owns 1,233,248 shares in the company, valued at approximately $3,650,414.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Charles K. Cohn purchased 75,000 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was bought at an average price of $2.79 per share, with a total value of $209,250.00. Following the completion of the acquisition, the chief executive officer now owns 185,704 shares in the company, valued at approximately $518,114.16. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 217,991 shares of company stock valued at $629,314 and sold 126,091 shares valued at $370,371. Corporate insiders own 31.35% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp grew its stake in shares of Nerdy by 23.6% in the third quarter. Bank of New York Mellon Corp now owns 210,466 shares of the company’s stock valued at $779,000 after buying an additional 40,132 shares in the last quarter. Cutter & CO Brokerage Inc. acquired a new position in Nerdy during the 3rd quarter worth approximately $41,000. ACR Alpine Capital Research LLC boosted its holdings in Nerdy by 7.9% in the 3rd quarter. ACR Alpine Capital Research LLC now owns 708,318 shares of the company’s stock worth $2,621,000 after acquiring an additional 51,672 shares during the period. L2 Asset Management LLC acquired a new stake in Nerdy in the third quarter valued at approximately $168,000. Finally, Aigen Investment Management LP purchased a new stake in shares of Nerdy during the third quarter valued at approximately $59,000. Institutional investors and hedge funds 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.