Oppenheimer Lowers NerdWallet (NASDAQ:NRDS) Price Target to $15.00

NerdWallet (NASDAQ:NRDS) had its price objective decreased by analysts at Oppenheimer from $18.00 to $15.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s price objective would suggest a potential upside of 30.66% from the company’s current price.

NRDS has been the topic of several other reports. Truist Financial decreased their price objective on shares of NerdWallet from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. KeyCorp boosted their price objective on NerdWallet from $15.00 to $16.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Zacks Research lowered NerdWallet from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 26th. Morgan Stanley raised their target price on NerdWallet from $12.00 to $14.00 and gave the company an “equal weight” rating in a report on Monday, November 10th. Finally, 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. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, NerdWallet presently has a consensus rating of “Hold” and a consensus target price of $15.17.

NerdWallet Price Performance

NerdWallet stock opened at $11.48 on Wednesday. NerdWallet has a 1-year low of $7.55 and a 1-year high of $16.24. The stock has a market cap of $834.71 million, a price-to-earnings ratio of 17.94 and a beta of 1.44. The firm has a 50 day simple moving average of $11.96 and a 200-day simple moving average of $12.12.

NerdWallet (NASDAQ:NRDS) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.17 by $0.02. The business had revenue of $225.40 million for the quarter, compared to analyst estimates of $211.37 million. NerdWallet had a return on equity of 12.66% and a net margin of 5.82%.The company’s quarterly revenue was up 22.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.51 EPS. Equities analysts expect that NerdWallet will post 0.36 earnings per share for the current fiscal year.

NerdWallet announced that its Board of Directors has authorized a stock buyback program on Tuesday, December 16th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On NerdWallet

Institutional investors and hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC raised its stake in NerdWallet by 80.6% during the 1st quarter. AQR Capital Management LLC now owns 40,432 shares of the company’s stock worth $366,000 after acquiring an additional 18,047 shares in the last quarter. Millennium Management LLC grew its holdings in shares of NerdWallet by 23.9% during the first quarter. Millennium Management LLC now owns 867,113 shares of the company’s stock worth $7,847,000 after purchasing an additional 166,984 shares during the last quarter. Versor Investments LP increased its position in shares of NerdWallet by 62.7% during the second quarter. Versor Investments LP now owns 47,932 shares of the company’s stock worth $526,000 after purchasing an additional 18,463 shares in the last quarter. Los Angeles Capital Management LLC lifted its holdings in shares of NerdWallet by 64.8% in the 2nd quarter. Los Angeles Capital Management LLC now owns 235,270 shares of the company’s stock valued at $2,581,000 after purchasing an additional 92,487 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of NerdWallet by 3.1% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 996,032 shares of the company’s stock valued at $10,926,000 after purchasing an additional 29,829 shares during the period. 38.81% of the stock is owned by institutional investors and hedge funds.

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.