NerdWallet (NASDAQ:NRDS) Price Target Lowered to $18.00 at Truist Financial

NerdWallet (NASDAQ:NRDS) had its target price dropped by investment analysts at Truist Financial from $19.00 to $18.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price target suggests a potential upside of 74.42% from the stock’s current price.

A number of other equities analysts have also recently commented on the stock. Barclays boosted their price target on shares of NerdWallet from $14.00 to $17.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. KeyCorp raised their price target on NerdWallet from $15.00 to $16.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Zacks Research lowered NerdWallet from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 9th. Finally, Morgan Stanley upped their target price on NerdWallet from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Monday, November 10th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $15.20.

NerdWallet Trading Up 7.9%

NRDS opened at $10.32 on Thursday. NerdWallet has a 12 month low of $7.55 and a 12 month high of $16.24. The company has a market cap of $750.37 million, a PE ratio of 10.75 and a beta of 1.43. The company has a 50 day moving average of $12.22 and a 200 day moving average of $12.07.

NerdWallet (NASDAQ:NRDS) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.02. NerdWallet had a return on equity of 9.27% and a net margin of 9.22%.The firm had revenue of $225.40 million for the quarter, compared to analysts’ expectations of $211.37 million. During the same period in the prior year, the business posted $0.51 earnings per share. The company’s revenue was up 22.6% on a year-over-year basis. Research analysts forecast that NerdWallet will post 0.36 earnings per share for the current fiscal year.

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

Insider Activity

In related news, insider Samuel Yount sold 15,945 shares of the business’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $16.04, for a total transaction of $255,757.80. Following the completion of the transaction, the insider directly owned 358,116 shares of the company’s stock, valued at $5,744,180.64. The trade was a 4.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 46.54% of the company’s stock.

Institutional Trading of NerdWallet

A number of large investors have recently made changes to their positions in NRDS. Prudential Financial Inc. acquired a new stake in shares of NerdWallet in the 2nd quarter valued at $1,046,000. Walleye Capital LLC purchased a new position in NerdWallet in the second quarter valued at $948,000. Los Angeles Capital Management LLC raised its stake in NerdWallet by 64.8% in the second quarter. Los Angeles Capital Management LLC now owns 235,270 shares of the company’s stock valued at $2,581,000 after buying an additional 92,487 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its holdings in NerdWallet by 65.2% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 124,268 shares of the company’s stock worth $1,363,000 after buying an additional 49,058 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of NerdWallet by 3.1% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 996,032 shares of the company’s stock worth $10,926,000 after acquiring an additional 29,829 shares in the last quarter. 38.81% of the stock is currently owned by hedge funds and other institutional investors.

NerdWallet Company Profile

NerdWallet (NASDAQ: NRDS) is a personal finance company that offers independent guidance and comparison tools to help consumers make informed financial decisions. Through its website and mobile application, NerdWallet provides a wide range of content, including articles, calculators and reviews covering credit cards, mortgages, personal loans, banking products, investing, insurance and taxes. The platform aggregates partner offers to enable side-by-side comparisons, while editorially maintaining objectivity to support users in identifying the products that best suit their individual needs.

Founded in 2009 by Tim Chen and Jacob Gibson, NerdWallet is headquartered in San Francisco and serves consumers primarily in the United States, with additional localized offerings in Canada and the United Kingdom.