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

Shares of NerdWallet, Inc. (NASDAQ:NRDS) have been assigned a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $16.00.

Several analysts recently weighed in on NRDS shares. Citigroup reduced their price objective on NerdWallet from $14.00 to $11.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 29th. Barclays raised their price target on shares of NerdWallet from $17.00 to $19.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Finally, Morgan Stanley lowered their price objective on shares of NerdWallet from $15.00 to $12.00 and set an “equal weight” rating for the company in a research report on Monday, February 24th.

NerdWallet Trading Up 0.6 %

Shares of NASDAQ:NRDS opened at $9.08 on Tuesday. The firm has a 50 day moving average of $8.98 and a 200-day moving average of $12.03. NerdWallet has a 12 month low of $7.55 and a 12 month high of $16.45. The stock has a market capitalization of $672.90 million, a PE ratio of 22.70 and a beta of 1.41.

NerdWallet (NASDAQ:NRDS) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.01 EPS for the quarter, meeting the consensus estimate of $0.01. The business had revenue of $183.80 million during the quarter, compared to the consensus estimate of $168.33 million. NerdWallet had a net margin of 4.42% and a negative return on equity of 2.08%. On average, research analysts predict that NerdWallet will post 0.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Topline Capital Management LLC acquired a new stake in NerdWallet during the 4th quarter worth approximately $69,840,000. Quinn Opportunity Partners LLC raised its stake in shares of NerdWallet by 3,324.4% during the fourth quarter. Quinn Opportunity Partners LLC now owns 893,781 shares of the company’s stock valued at $11,887,000 after acquiring an additional 867,681 shares during the last quarter. Alta Fox Capital Management LLC acquired a new position in shares of NerdWallet during the fourth quarter worth $10,761,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of NerdWallet by 157.3% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 908,468 shares of the company’s stock worth $12,083,000 after purchasing an additional 555,329 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in NerdWallet by 325.8% in the fourth quarter. Millennium Management LLC now owns 700,129 shares of the company’s stock valued at $9,312,000 after purchasing an additional 535,701 shares during the period. Institutional investors and hedge funds own 38.81% of the company’s stock.

About NerdWallet

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.