NerdWallet (NASDAQ:NRDS) Issues Quarterly Earnings Results

NerdWallet (NASDAQ:NRDS) announced its quarterly earnings data on Thursday. The company reported $0.01 EPS for the quarter, Briefing.com reports. The company had revenue of $161.90 million for the quarter, compared to the consensus estimate of $156.95 million. NerdWallet had a negative net margin of 1.97% and a negative return on equity of 3.24%. The company’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.02 EPS. NerdWallet updated its Q2 2024 guidance to EPS.

NerdWallet Stock Down 3.3 %

NASDAQ:NRDS traded down $0.44 during trading hours on Friday, reaching $13.08. 503,482 shares of the company’s stock were exchanged, compared to its average volume of 336,749. NerdWallet has a 1-year low of $6.38 and a 1-year high of $17.30. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of -83.06 and a beta of 1.39. The company has a 50-day moving average of $15.09 and a 200 day moving average of $13.49.

Analyst Ratings Changes

NRDS has been the topic of several recent analyst reports. Citigroup increased their target price on NerdWallet from $11.00 to $16.00 and gave the company a “neutral” rating in a report on Friday, January 12th. KeyCorp upped their target price on shares of NerdWallet from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, February 12th. Truist Financial cut their price target on shares of NerdWallet from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, February 15th. Finally, Barclays upped their price objective on shares of NerdWallet from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Thursday, February 15th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $16.50.

Insider Buying and Selling at NerdWallet

In other news, VP Samuel Yount sold 6,309 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $16.16, for a total transaction of $101,953.44. Following the completion of the sale, the vice president now owns 2,350,242 shares in the company, valued at $37,979,910.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 45.93% of the stock is currently owned by company insiders.

About NerdWallet

NerdWallet, Inc operates a digital platform that provides consumer-driven advice about personal finance by connecting individuals and small and mid-sized businesses with financial products providers in the United States, the United Kingdom, Australia, and Canada. Its platform offers guidance to consumers through educational content, tools and calculators, and product marketplaces, as well as through NerdWallet app for various financial products, including credit cards, mortgages, insurance, SMB products, personal loans, banking, investing, and student loans.