NerdWallet, Inc. (NASDAQ:NRDS) Receives Average Rating of “Hold” from Analysts

Shares of NerdWallet, Inc. (NASDAQ:NRDS) have received an average recommendation of “Hold” from the eight analysts that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $12.8333.

NRDS has been the topic of a number of recent analyst reports. Wall Street Zen lowered shares of NerdWallet from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings reissued a “hold (c-)” rating on shares of NerdWallet in a report on Tuesday, August 18th. KeyCorp cut their target price on NerdWallet from $15.00 to $13.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Truist Financial reduced their target price on NerdWallet from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, May 11th. Finally, Oppenheimer lowered their price target on NerdWallet from $15.00 to $12.00 and set an “outperform” rating for the company in a research report on Monday, May 11th.

NerdWallet Price Performance

Shares of NASDAQ:NRDS opened at $9.90 on Monday. The business’s 50-day moving average is $9.41 and its 200 day moving average is $9.61. NerdWallet has a 1 year low of $7.33 and a 1 year high of $16.24. The firm has a market capitalization of $632.84 million, a P/E ratio of 11.12 and a beta of 1.23.

NerdWallet (NASDAQ:NRDS) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.02). NerdWallet had a return on equity of 18.07% and a net margin of 7.56%.The business had revenue of $197.30 million during the quarter, compared to analyst estimates of $195.30 million. During the same period in the prior year, the business posted $0.11 EPS. NerdWallet’s revenue was up 5.6% compared to the same quarter last year. On average, analysts expect that NerdWallet will post 0.88 EPS for the current year.

Insider Activity at NerdWallet

In related news, major shareholder Topline Capital Partners, Lp sold 454,872 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $9.27, for a total value of $4,216,663.44. Following the sale, the insider owned 3,289,285 shares in the company, valued at $30,491,671.95. This represents a 12.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 1,961,860 shares of company stock worth $17,862,921 over the last three months. Insiders own 52.75% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. UBS Group AG increased its holdings in shares of NerdWallet by 52.2% during the 4th quarter. UBS Group AG now owns 489,591 shares of the company’s stock valued at $6,634,000 after purchasing an additional 167,954 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in NerdWallet by 13.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,322,848 shares of the company’s stock worth $13,730,000 after buying an additional 153,790 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in NerdWallet during the first quarter valued at $2,903,000. Renaissance Technologies LLC grew its position in NerdWallet by 25.4% during the first quarter. Renaissance Technologies LLC now owns 1,002,275 shares of the company’s stock valued at $10,404,000 after buying an additional 202,838 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its holdings in NerdWallet by 32.5% in 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 in the last quarter. Hedge funds and other institutional investors own 38.81% of the company’s stock.

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.