JMP Securities Downgrades Nerdy (NRDY) to Market Perform

JMP Securities analyst Andrew Boone downgraded Nerdy (NYSE: NRDY) from Market Outperform to Market Perform.

The analyst comments: "We are downgrading Nerdy shares from Market Outperform to Market Perform after the company reported 3Q24 results that came in slightly better than consensus revenue and EBITDA, but it lowered forward guidance again as 4Q revenue guidance came in 20% below consensus. While we acknowledge valuation is compelling at 0.5x revenue and the company has $65M of cash and no debt, with limited revenue visibility and losses worsening in 4Q24, we await a more stable product portfolio and consumer demand environment before recommending shares."

For an analyst ratings summary and ratings history on Nerdy click here. For more ratings news on Nerdy click here.

Shares of Nerdy closed at $0.89 yesterday.

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