NerdWallet, Inc. (NASDAQ:NRDS) Receives $12.83 Average Price Target from Analysts

NerdWallet, Inc. (NASDAQ:NRDS) has been given a consensus rating of “Hold” by the eight analysts that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $12.8333.

NRDS has been the subject of a number of recent analyst reports. Oppenheimer cut their price objective on NerdWallet from $15.00 to $12.00 and set an “outperform” rating for the company in a research report on Monday, May 11th. Weiss Ratings downgraded NerdWallet from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday. Citigroup cut their price objective on NerdWallet from $13.00 to $11.00 and set a “neutral” rating for the company in a research report on Monday, May 11th. KeyCorp cut their price objective on NerdWallet from $15.00 to $13.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Finally, Truist Financial cut their price objective on NerdWallet from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Monday, May 11th.

NerdWallet Stock Up 1.8%

Shares of NRDS opened at $8.35 on Friday. NerdWallet has a 52-week low of $7.33 and a 52-week high of $16.24. The company has a market capitalization of $549.43 million, a PE ratio of 8.98 and a beta of 1.34. The stock has a fifty day simple moving average of $9.99 and a two-hundred day simple moving average of $11.82.

NerdWallet (NASDAQ:NRDS) last issued its earnings results on Wednesday, May 6th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. NerdWallet had a return on equity of 18.33% and a net margin of 8.11%.The business had revenue of $222.20 million during the quarter, compared to the consensus estimate of $227.63 million. NerdWallet’s revenue for the quarter was up 6.2% compared to the same quarter last year. As a group, equities analysts anticipate that NerdWallet will post 0.85 earnings per share for the current fiscal year.

Insider Activity

In other NerdWallet news, CAO Nicholas Tatum sold 10,151 shares of NerdWallet stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $11.45, for a total value of $116,228.95. Following the completion of the transaction, the chief accounting officer directly owned 47,202 shares of the company’s stock, valued at $540,462.90. The trade was a 17.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Samuel Yount sold 71,988 shares of NerdWallet stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $10.32, for a total value of $742,916.16. Following the completion of the transaction, the insider directly owned 173,973 shares of the company’s stock, valued at approximately $1,795,401.36. This represents a 29.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 86,043 shares of company stock valued at $901,317. 52.75% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NerdWallet

Several institutional investors have recently bought and sold shares of the company. Quantinno Capital Management LP grew its position in NerdWallet by 286.0% in the 1st quarter. Quantinno Capital Management LP now owns 72,764 shares of the company’s stock valued at $755,000 after acquiring an additional 53,915 shares in the last quarter. Renaissance Technologies LLC grew its position in NerdWallet by 25.4% in the 1st quarter. Renaissance Technologies LLC now owns 1,002,275 shares of the company’s stock valued at $10,404,000 after acquiring an additional 202,838 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in NerdWallet by 32.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,808,988 shares of the company’s stock valued at $18,777,000 after acquiring an additional 444,038 shares in the last quarter. State of Wyoming grew its position in NerdWallet by 5.8% in the 1st quarter. State of Wyoming now owns 59,142 shares of the company’s stock valued at $614,000 after acquiring an additional 3,263 shares in the last quarter. Finally, First Trust Advisors LP grew its position in NerdWallet by 2.5% in the 1st quarter. First Trust Advisors LP now owns 112,917 shares of the company’s stock valued at $1,172,000 after acquiring an additional 2,801 shares in the last quarter. 38.81% of the stock is owned by institutional investors and hedge funds.

About NerdWallet

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.