NerdWallet (NASDAQ:NRDS) Downgraded to Strong Sell Rating by Zacks Research

NerdWallet (NASDAQ:NRDS) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Thursday,Zacks.com reports.

Several other brokerages have also weighed in on NRDS. Barclays raised their price objective on shares of NerdWallet from $14.00 to $17.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Truist Financial decreased their price target on NerdWallet from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday. KeyCorp upped their price objective on NerdWallet from $15.00 to $16.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Finally, Morgan Stanley lifted their target price on NerdWallet from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Monday, November 10th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, NerdWallet has a consensus rating of “Hold” and an average price target of $15.20.

NerdWallet Stock Down 2.0%

NRDS stock opened at $10.85 on Thursday. The stock’s 50 day moving average is $12.07 and its two-hundred day moving average is $12.08. NerdWallet has a 52-week low of $7.55 and a 52-week high of $16.24. The company has a market capitalization of $788.90 million, a PE ratio of 16.95 and a beta of 1.43.

NerdWallet (NASDAQ:NRDS) last released its 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 company had revenue of $225.40 million during the quarter, compared to analysts’ expectations of $211.37 million. NerdWallet had a return on equity of 12.55% and a net margin of 5.82%.The business’s revenue was up 22.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.51 EPS. As a group, sell-side analysts anticipate that NerdWallet will post 0.36 EPS for the current year.

NerdWallet declared that its Board of Directors has initiated a share buyback program on Tuesday, December 16th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at NerdWallet

In other news, insider Samuel Yount sold 15,945 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $16.04, for a total transaction of $255,757.80. Following the completion of the transaction, the insider directly owned 358,116 shares of the company’s stock, valued at approximately $5,744,180.64. This represents a 4.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 46.54% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Covestor Ltd bought a new stake in NerdWallet in the fourth quarter valued at $34,000. Tower Research Capital LLC TRC lifted its position in NerdWallet by 37.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,893 shares of the company’s stock valued at $43,000 after purchasing an additional 1,054 shares during the last quarter. Polymer Capital Management US LLC acquired a new position in NerdWallet during the 3rd quarter valued at about $111,000. Moran Wealth Management LLC bought a new position in NerdWallet in the 4th quarter worth about $148,000. Finally, Swiss Life Asset Management Ltd acquired a new stake in shares of NerdWallet in the fourth quarter valued at approximately $150,000. 38.81% of the stock is currently owned by institutional investors.

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.