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

Shares of NerdWallet, Inc. (NASDAQ:NRDS) have received a consensus recommendation of “Hold” from the eight ratings firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $12.8333.

NRDS has been the topic of several recent analyst reports. KeyCorp cut their target price on shares of NerdWallet from $15.00 to $13.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Zacks Research upgraded shares of NerdWallet from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 2nd. Wall Street Zen cut shares of NerdWallet from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Truist Financial cut their price target on shares of NerdWallet from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, May 11th. Finally, Citigroup decreased their price objective on shares of NerdWallet from $13.00 to $11.00 and set a “neutral” rating on the stock in a research report on Monday, May 11th.

NerdWallet Stock Performance

NRDS stock traded down $0.66 during trading on Thursday, hitting $8.95. 46,062 shares of the company traded hands, compared to its average volume of 881,946. The company has a 50-day moving average of $8.83 and a 200-day moving average of $10.02. NerdWallet has a 1 year low of $7.33 and a 1 year high of $16.24. The firm has a market capitalization of $588.78 million, a PE ratio of 9.61 and a beta of 1.23.

NerdWallet (NASDAQ:NRDS) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.29 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 for the quarter, compared to analysts’ expectations of $227.63 million. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. Sell-side analysts expect that NerdWallet will post 0.85 EPS for the current year.

Insider Activity

In related news, major shareholder Topline Capital Partners, Lp sold 454,872 shares of the firm’s stock in a transaction dated 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 directly owned 3,289,285 shares of the company’s stock, valued at $30,491,671.95. This trade represents a 12.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 1,961,860 shares of company stock valued at $17,862,921 over the last quarter. 52.75% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of NerdWallet by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 3,994,180 shares of the company’s stock worth $42,977,000 after buying an additional 48,205 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings 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 acquiring an additional 444,038 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in NerdWallet by 13.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,322,848 shares of the company’s stock worth $13,730,000 after acquiring an additional 153,790 shares during the period. Renaissance Technologies LLC lifted its stake in NerdWallet by 25.4% in the first quarter. Renaissance Technologies LLC now owns 1,002,275 shares of the company’s stock worth $10,404,000 after acquiring an additional 202,838 shares during the period. Finally, State Street Corp lifted its stake in NerdWallet by 3.2% in the fourth quarter. State Street Corp now owns 922,142 shares of the company’s stock worth $12,495,000 after acquiring an additional 28,844 shares during the period. Institutional investors own 38.81% of the company’s stock.

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.