JPM says Nerdy well-positioned for growth, raises PT
16/08/2022 13:04
** J.P. Morgan raises PT on online learning firm Nerdy Inc
NRDY.N by $1 to $7 after co posts upbeat quarterly results
** Brokerage maintains "overweight" rating; says demand
across segments remained strong in the quarter, helping drive
profit higher than estimates
** "We believe NRDY is well-positioned for future growth,
and we remain bullish on NRDY's membership and varsity tutors
for school (VTS) strategy" - J.P. Morgan
** Adds co is currently not facing demand-related headwinds
from the inflationary and recessionary macroeconomic environment
** NRDY on Monday posted a 29% rise in Q2 revenue to $42.2
mln above its previously announced guidance of growth between
$37 mln and $40 mln urn:newsml:reuters.com:*:nBw1Xjbcba
** Seven of nine brokerages rate the stock "buy" or higher,
two "hold"; their median PT is $5 - Refinitiv data
** As of last close, stock down ~20.4% YTD
(Reporting by Manya Saini in Bengaluru)
((Manya.Saini@thomsonreuters.com;))