NerdWallet, Inc. (NASDAQ:NRDS) Receives $15.20 Average PT from Brokerages

NerdWallet, Inc. (NASDAQ:NRDS) has earned a consensus rating of “Hold” from the eight research firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $15.1667.

NRDS has been the subject of a number of recent analyst reports. Barclays raised their price objective on NerdWallet from $14.00 to $17.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Zacks Research lowered shares of NerdWallet from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 26th. Oppenheimer dropped their price target on shares of NerdWallet from $18.00 to $15.00 and set an “outperform” rating for the company in a research report on Wednesday. KeyCorp boosted their price target 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. Finally, Truist Financial lowered their price objective on shares of NerdWallet from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, February 26th.

Insider Transactions at NerdWallet

In related news, CAO Nicholas Tatum sold 10,151 shares of the firm’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $11.45, for a total transaction of $116,228.95. Following the completion of the transaction, the chief accounting officer directly owned 47,202 shares in the company, valued at $540,462.90. This trade represents a 17.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 46.54% of the company’s stock.

Institutional Trading of NerdWallet

A number of institutional investors and hedge funds have recently bought and sold shares of NRDS. Invesco Ltd. lifted its position in shares of NerdWallet by 27.7% during the fourth quarter. Invesco Ltd. now owns 103,226 shares of the company’s stock worth $1,399,000 after purchasing an additional 22,406 shares in the last quarter. Mackenzie Financial Corp acquired a new position in shares of NerdWallet in the fourth quarter valued at approximately $310,000. XTX Topco Ltd grew its holdings in shares of NerdWallet by 141.3% in the fourth quarter. XTX Topco Ltd now owns 74,784 shares of the company’s stock valued at $1,013,000 after purchasing an additional 43,794 shares in the last quarter. Numerai GP LLC purchased a new stake in NerdWallet during the 4th quarter worth approximately $423,000. Finally, Millennium Management LLC lifted its holdings in NerdWallet by 1,231.3% during the 4th quarter. Millennium Management LLC now owns 538,421 shares of the company’s stock worth $7,296,000 after buying an additional 497,978 shares in the last quarter. 38.81% of the stock is currently owned by hedge funds and other institutional investors.

NerdWallet Stock Performance

Shares of NerdWallet stock opened at $11.16 on Monday. The stock has a 50 day moving average of $11.78 and a 200 day moving average of $12.11. The firm has a market capitalization of $745.38 million, a price-to-earnings ratio of 17.44 and a beta of 1.44. NerdWallet has a fifty-two week low of $7.55 and a fifty-two week high of $16.24.

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

NerdWallet announced that its Board of Directors has authorized a share buyback plan on Tuesday, December 16th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to purchase up to 5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

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.