Cantor Fitzgerald Has Lowered Expectations for Nerdy (NYSE:NRDY) Stock Price

Key Points

• Cantor Fitzgerald has lowered its price target for Nerdy (NYSE: NRDY) from $1.75 to $1.50, maintaining a "neutral" rating on the stock, which suggests a potential upside of 22.45% from its current price.
• On Friday, Nerdy shares fell by $0.28 to $1.23, with a 1-year low of $0.73 and a high of $2.18, reflecting significant volatility.
• Nerdy's latest earnings report indicated a loss of ($0.09) EPS but beat analyst expectations, with revenue of $47.60 million, exceeding estimates of $46.22 million.

Nerdy (NYSE:NRDY - Free Report) had its target price reduced by Cantor Fitzgerald from $1.75 to $1.50 in a research note published on Friday,Benzinga reports. Cantor Fitzgerald currently has a neutral rating on the stock.

Nerdy Price Performance

NYSE:NRDY traded up $0.03 during mid-day trading on Friday, reaching $1.30. The company's stock had a trading volume of 571,608 shares, compared to its average volume of 798,635. The company's fifty day simple moving average is $1.61 and its two-hundred day simple moving average is $1.62. Nerdy has a twelve month low of $0.74 and a twelve month high of $2.18. The stock has a market cap of $236.27 million, a P/E ratio of -3.32 and a beta of 1.87.

Nerdy (NYSE:NRDY - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.03. The business had revenue of $45.26 million for the quarter, compared to analyst estimates of $46.60 million. Nerdy had a negative return on equity of 77.11% and a negative net margin of 24.91%. Sell-side analysts expect that Nerdy will post -0.43 EPS for the current fiscal year.

Insider Activity at Nerdy

In other Nerdy news, CFO Jason H. Pello sold 76,794 shares of Nerdy stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $1.67, for a total transaction of $128,245.98. Following the sale, the chief financial officer directly owned 1,960,134 shares in the company, valued at $3,273,423.78. The trade was a 3.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher C. Swenson sold 53,514 shares of the business's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $1.67, for a total value of $89,368.38. Following the completion of the sale, the insider owned 1,612,388 shares of the company's stock, valued at $2,692,687.96. This trade represents a 3.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 177,556 shares of company stock worth $293,684 over the last three months. 50.94% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Nerdy

A number of institutional investors have recently made changes to their positions in the company. Franklin Resources Inc. increased its holdings in shares of Nerdy by 0.4% in the 2nd quarter. Franklin Resources Inc. now owns 3,650,255 shares of the company's stock valued at $5,950,000 after acquiring an additional 15,674 shares during the last quarter. Voya Investment Management LLC acquired a new position in Nerdy during the 1st quarter worth $30,000. Strs Ohio acquired a new stake in Nerdy in the 1st quarter valued at about $56,000. AQR Capital Management LLC lifted its holdings in Nerdy by 67.9% in the 1st quarter. AQR Capital Management LLC now owns 37,660 shares of the company's stock valued at $53,000 after acquiring an additional 15,234 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in Nerdy in the 1st quarter valued at about $508,000. 39.10% of the stock is currently owned by institutional investors.

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.