Citigroup Has Lowered Expectations for NerdWallet (NASDAQ:NRDS) Stock Price

NerdWallet (NASDAQ:NRDS) had its target price reduced by analysts at Citigroup from $14.00 to $11.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price target would suggest a potential upside of 22.77% from the company’s previous close.

Several other equities research analysts also recently commented on NRDS. Barclays lifted their target price on shares of NerdWallet from $17.00 to $19.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Morgan Stanley cut their price target on shares of NerdWallet from $15.00 to $12.00 and set an “equal weight” rating on the stock in a report on Monday, February 24th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, NerdWallet has a consensus rating of “Moderate Buy” and a consensus price target of $16.00.

NerdWallet Stock Performance

Shares of NRDS opened at $8.96 on Tuesday. NerdWallet has a 52 week low of $7.55 and a 52 week high of $16.45. The stock has a market capitalization of $664.01 million, a price-to-earnings ratio of 22.40 and a beta of 1.41. The stock has a fifty day moving average of $9.06 and a 200-day moving average of $12.10.

NerdWallet (NASDAQ:NRDS) last issued its earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.01. NerdWallet had a negative return on equity of 2.08% and a net margin of 4.42%. The business had revenue of $183.80 million during the quarter, compared to analysts’ expectations of $168.33 million. As a group, equities analysts forecast that NerdWallet will post 0.36 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Topline Capital Management LLC acquired a new position in NerdWallet during the 4th quarter worth about $69,840,000. Geode Capital Management LLC lifted its holdings in NerdWallet by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 924,423 shares of the company’s stock worth $11,751,000 after buying an additional 19,330 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in NerdWallet by 157.3% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 908,468 shares of the company’s stock worth $12,083,000 after buying an additional 555,329 shares during the period. Quinn Opportunity Partners LLC lifted its holdings in NerdWallet by 3,324.4% during the 4th quarter. Quinn Opportunity Partners LLC now owns 893,781 shares of the company’s stock worth $11,887,000 after buying an additional 867,681 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in NerdWallet by 8.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 867,500 shares of the company’s stock worth $11,537,000 after buying an additional 64,366 shares during the period. 38.81% of the stock is owned by institutional investors and hedge funds.

NerdWallet Company Profile

NerdWallet, Inc operates a digital platform that provides consumer-driven advice about personal finance by connecting individuals and small and mid-sized businesses with financial products providers in the United States, the United Kingdom, Australia, and Canada. Its platform offers guidance to consumers through educational content, tools and calculators, and product marketplaces, as well as through NerdWallet app for various financial products, including credit cards, mortgages, insurance, SMB products, personal loans, banking, investing, and student loans.