Nerdy Analysts Cut Their Forecasts After Weak Forecast

Nerdy, Inc. NRDY reported upbeat results for its third quarter, but issued a weak forecast.

Nerdy posted quarterly loss of 13 cents per share, compared to market expectations for a loss of 21 cents per share. The company’s quarterly sales came in at $40.30 million versus estimates of $39.04 million.

Nerdy said it sees fourth-quarter revenue of $54 million to $56M million versus analysts’ estimates of $60.92 million. The company expects FY23 revenue of $192 million to $194 million versus estimates of $198.02 million.

Nerdy shares fell 19.2% to trade at $2.5050 on Wednesday.

These analysts made changes to their price targets on Nerdy following earnings announcement.

• Raymond James slashed the price target on Nerdy from $5.5 to $4. Raymond James analyst Alexander Sklar maintained an Outperform rating.
• Cantor Fitzgerald cut the price target on Nerdy from $8 to $6. Cantor Fitzgerald analyst Brett Knoblauch maintained an Overweight rating.

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