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Needham Thinks Nerdy’s Stock is Going to Recover

In a report released today, Ryan MacDonald from Needham initiated coverage with a Buy rating on Nerdy (NRDYResearch Report) and a price target of $13.00. The company’s shares closed last Friday at $8.94, close to its 52-week low of $8.66.

According to TipRanks.com, MacDonald is a top 100 analyst with an average return of 37.9% and a 69.8% success rate. MacDonald covers the Technology sector, focusing on stocks such as Zeta Global Holdings Corp, Momentive Global, and Coupa Software.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Nerdy with a $12.25 average price target, representing a 32.6% upside. In a report issued on October 4, Canaccord Genuity also initiated coverage with a Buy rating on the stock with a $14.00 price target.

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Based on the recent corporate insider activity of 12 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of NRDY in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

TPG Pace Tech Opportunities Corp is a blank check company.

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