Nerdy price target lowered to $4 from $5 at Barclays

Barclays lowered the firm’s price target on Nerdy to $4 from $5 and keeps an Equal Weight rating on the shares. The company’s Q3 beat on revenue and EBITDA, but the Q4 guide-down and somewhat cautious commentary around conversion rate of Learning Members keep the firm on the sideline for now, the analyst tells investors in a research note. The firm thinks the overall story might come together nicely in 2024, but wants to see steady performance before getting more constructive.