Nerdy downgraded to Market Perform from Outperform at JMP Securities

JMP Securities downgraded Nerdy (NRDY) to Market Perform from Outperform without a price target The company reported Q3 results that came in slightly better than consensus revenue and EBITDA, but it lowered forward guidance again as Q4 revenue guidance came in 20% below consensus, the analyst tells investors in a research note. The firm acknowledges the stock’s valuation is “compelling,” but says there is limited revenue visibility and Nerdy’s losses are worsening in Q4. As such, it awaits a more stable product portfolio and consumer demand environment before recommending the shares.