Nerdy Shares Slide After Quarterly Revenue Disappoints >NRDY [MarketWatch]
Nerdy Inc. Class A (NRDY)
Company Research
Source: MarketWatch
The St. Louis company reported third-quarter revenue of $31.3 million, shy of the $35.9 million that analysts polled by FactSet were expecting. Nerdy said its results were hurt by the return of more normal summer seasonality in the wake of the Covid-19 pandemic, with families taking significant time off for the first time since 2019. Nerdy, which went public in September through a combination with blank-check company TPG Pace Tech Opportunities, also forecast fourth-quarter revenue of $40 million to $43 million, compared with Wall Street's estimate of $42.4 million. On a positive note, Nerdy said it saw record back-to-school performance in the third quarter, with bookings up 32% to $44.5 million. Analysts at Raymond James, noting the strong back-to-school demand, maintained their "outperform" rating on the stock but lowered their price target to $9 from $13 amid the mixed quarterly results. Nerdy shares were recently down 15% to $6.79 after touching a 52-week low of $6.76 e
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NRDY
Earnings
- 11/7/23 - Beat
NRDY
Sec Filings
- 3/26/24 - Form 4
- 3/20/24 - Form 4
- 3/19/24 - Form 4
- NRDY's page on the SEC website