NerdWallet (NASDAQ:NRDS) Trading Down 5.9% After Analyst Downgrade

NerdWallet, Inc. (NASDAQ:NRDS) shares were down 5.9% during mid-day trading on Monday after KeyCorp lowered their price target on the stock from $18.00 to $14.00. KeyCorp currently has an overweight rating on the stock. NerdWallet traded as low as $8.53 and last traded at $8.54. Approximately 212,510 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 557,157 shares. The stock had previously closed at $9.08.

A number of other research firms have also recently issued reports on NRDS. Morgan Stanley cut their price target on NerdWallet from $15.00 to $12.00 and set an “equal weight” rating on the stock in a report on Monday, February 24th. Barclays increased their target price on shares of NerdWallet from $17.00 to $19.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Finally, Citigroup decreased their price target on shares of NerdWallet from $14.00 to $11.00 and set a “neutral” rating for the company in a research note on Tuesday, April 29th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $15.00.

Institutional Trading of NerdWallet

Several hedge funds have recently bought and sold shares of the business. Topline Capital Management LLC purchased a new position in shares of NerdWallet during the fourth quarter valued at approximately $69,840,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in NerdWallet by 157.3% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 908,468 shares of the company’s stock valued at $12,083,000 after purchasing an additional 555,329 shares during the last quarter. Quinn Opportunity Partners LLC increased its position in NerdWallet by 3,324.4% in the fourth 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 last quarter. Dimensional Fund Advisors LP raised its stake in NerdWallet by 8.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 867,500 shares of the company’s stock valued at $11,537,000 after acquiring an additional 64,366 shares during the period. Finally, Alta Fox Capital Management LLC purchased a new stake in shares of NerdWallet during the 4th quarter valued at approximately $10,761,000. Institutional investors and hedge funds own 38.81% of the company’s stock.

NerdWallet Price Performance

The stock has a market capitalization of $626.95 million, a P/E ratio of 21.15 and a beta of 1.41. The stock has a fifty day moving average price of $8.94 and a 200 day moving average price of $12.01.

NerdWallet (NASDAQ:NRDS) last posted its earnings results on Wednesday, February 19th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate 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. Research analysts anticipate that NerdWallet, Inc. will post 0.36 earnings per share for the current year.

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.