Nerdy (NYSE:NRDY) Issues Earnings Results

Nerdy (NYSE:NRDY) posted its earnings results on Tuesday. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.04, Briefing.com reports. The company had revenue of $53.73 million for the quarter, compared to analysts’ expectations of $52.20 million. Nerdy had a negative return on equity of 48.96% and a negative net margin of 20.77%. The firm’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period last year, the business posted ($0.12) earnings per share.

Nerdy Price Performance

Shares of NRDY traded down $0.08 during trading hours on Friday, reaching $2.24. 521,154 shares of the company’s stock traded hands, compared to its average volume of 1,114,916. The firm has a market capitalization of $389.11 million, a price-to-earnings ratio of -5.51 and a beta of 1.90. Nerdy has a twelve month low of $1.92 and a twelve month high of $5.37. The business’s fifty day simple moving average is $2.78 and its two-hundred day simple moving average is $2.95.

Analyst Upgrades and Downgrades

NRDY has been the topic of a number of recent research reports. The Goldman Sachs Group raised their target price on Nerdy from $3.25 to $3.75 and gave the company a “neutral” rating in a research note on Thursday. Needham & Company LLC reiterated a “buy” rating and issued a $4.00 target price on shares of Nerdy in a research note on Wednesday. Finally, JPMorgan Chase & Co. initiated coverage on Nerdy in a research note on Monday, March 11th. They issued an “overweight” rating and a $5.00 target price on the stock. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Nerdy has an average rating of “Moderate Buy” and an average price target of $4.82.

Insider Activity

In related news, CFO Jason H. Pello sold 41,896 shares of Nerdy stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $3.13, for a total transaction of $131,134.48. Following the transaction, the chief financial officer now directly owns 1,505,244 shares of the company’s stock, valued at $4,711,413.72. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Christopher C. Swenson sold 30,000 shares of Nerdy stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $2.53, for a total transaction of $75,900.00. Following the transaction, the insider now directly owns 1,203,248 shares of the company’s stock, valued at $3,044,217.44. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Jason H. Pello sold 41,896 shares of Nerdy stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $3.13, for a total value of $131,134.48. Following the completion of the transaction, the chief financial officer now directly owns 1,505,244 shares in the company, valued at approximately $4,711,413.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 217,991 shares of company stock valued at $629,314 and have sold 126,091 shares valued at $370,371. Corporate insiders own 31.35% 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.