NerdWallet, Inc. (NASDAQ:NRDS) Given Average Recommendation of “Hold” by Analysts

NerdWallet, Inc. (NASDAQ:NRDS) has been assigned a consensus recommendation of “Hold” from the eight ratings firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $12.8333.

A number of brokerages recently issued reports on NRDS. Wall Street Zen cut shares of NerdWallet from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Zacks Research upgraded shares of NerdWallet from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Citigroup dropped their price target on shares of NerdWallet from $13.00 to $11.00 and set a “neutral” rating on the stock in a research note on Monday, May 11th. Truist Financial dropped their price target on shares of NerdWallet from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Finally, Weiss Ratings cut NerdWallet from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, May 21st.

Insider Activity at NerdWallet

In related news, insider Samuel Yount sold 71,988 shares of the stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $10.32, for a total transaction of $742,916.16. Following the sale, the insider directly owned 173,973 shares of the company’s stock, valued at $1,795,401.36. This trade represents a 29.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 52.75% of the stock is owned by company insiders.

Institutional Investors Weigh In On NerdWallet

Several institutional investors have recently modified their holdings of NRDS. OP Asset Management Ltd purchased a new stake in shares of NerdWallet during the first quarter valued at $6,957,000. Millennium Management LLC boosted its position in shares of NerdWallet by 1,231.3% during the fourth quarter. Millennium Management LLC now owns 538,421 shares of the company’s stock valued at $7,296,000 after buying an additional 497,978 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of NerdWallet by 32.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,808,988 shares of the company’s stock valued at $18,777,000 after buying an additional 444,038 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in shares of NerdWallet during the first quarter valued at $2,903,000. Finally, Tudor Investment Corp ET AL purchased a new stake in shares of NerdWallet during the third quarter valued at $2,812,000. 38.81% of the stock is owned by hedge funds and other institutional investors.

NerdWallet Price Performance

Shares of NerdWallet stock opened at $8.20 on Wednesday. The stock has a market cap of $539.56 million, a price-to-earnings ratio of 8.82 and a beta of 1.25. The firm’s 50-day moving average is $9.54 and its 200 day moving average is $11.38. NerdWallet has a 1 year low of $7.33 and a 1 year high of $16.24.

NerdWallet (NASDAQ:NRDS) last announced its quarterly 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. The company had revenue of $222.20 million for the quarter, compared to analysts’ expectations of $227.63 million. NerdWallet had a net margin of 8.11% and a return on equity of 18.33%. The company’s revenue was up 6.2% on a year-over-year basis. On average, equities analysts expect that NerdWallet will post 0.85 EPS for the current fiscal year.

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.