NerdWallet, Inc. (NASDAQ:NRDS) Receives Consensus Rating of “Moderate Buy” from Brokerages

NerdWallet, Inc. (NASDAQ:NRDS) has been given an average recommendation of “Moderate Buy” by the seven analysts that are presently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $15.40.

Several equities analysts have weighed in on the company. Truist Financial raised their price objective on NerdWallet from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Monday, November 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of NerdWallet in a report on Wednesday, October 8th. Barclays raised their price target on shares of NerdWallet from $14.00 to $17.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Zacks Research raised shares of NerdWallet from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 10th. Finally, KeyCorp increased their price objective on shares of NerdWallet from $15.00 to $16.00 and gave the company an “overweight” rating in a research note on Friday, November 7th.

NerdWallet Stock Performance

Shares of NASDAQ NRDS opened at $13.98 on Wednesday. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 14.56 and a beta of 1.42. NerdWallet has a fifty-two week low of $7.55 and a fifty-two week high of $16.24. The firm’s 50-day simple moving average is $13.13 and its 200 day simple moving average is $11.56.

NerdWallet (NASDAQ:NRDS) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.20 by $0.14. The firm had revenue of $215.10 million during the quarter, compared to the consensus estimate of $193.31 million. NerdWallet had a return on equity of 9.27% and a net margin of 9.22%.The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. On average, sell-side analysts predict that NerdWallet will post 0.36 EPS for the current year.

NerdWallet declared that its board has initiated a stock repurchase plan on Tuesday, December 16th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to repurchase up to 5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In related news, insider Samuel Yount sold 15,945 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $16.04, for a total value of $255,757.80. Following the transaction, the insider directly owned 358,116 shares of the company’s stock, valued at approximately $5,744,180.64. The trade was a 4.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Nicholas Tatum sold 4,272 shares of NerdWallet stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $10.76, for a total transaction of $45,966.72. Following the completion of the sale, the chief accounting officer directly owned 68,020 shares in the company, valued at approximately $731,895.20. This represents a 5.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 48,503 shares of company stock worth $715,244 over the last quarter. Company insiders own 45.93% of the company’s stock.

Hedge Funds Weigh In On NerdWallet

Several large investors have recently modified their holdings of NRDS. Tudor Investment Corp ET AL purchased a new position in NerdWallet in the 3rd quarter valued at approximately $2,812,000. Polymer Capital Management US LLC purchased a new stake in NerdWallet in the 3rd quarter worth approximately $111,000. Qube Research & Technologies Ltd purchased a new stake in NerdWallet in the 3rd quarter worth approximately $136,000. Prelude Capital Management LLC bought a new position in NerdWallet in the 3rd quarter valued at $119,000. Finally, Brevan Howard Capital Management LP bought a new position in shares of NerdWallet in the third quarter worth $131,000. Hedge funds and other institutional investors own 38.81% of the company’s stock.

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.