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

NerdWallet, Inc. (NASDAQ:NRDS) has earned a consensus recommendation of “Hold” from the eight ratings firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $12.8333.

Several research firms have weighed in on NRDS. Wall Street Zen lowered shares of NerdWallet from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Truist Financial lowered their price objective on shares of NerdWallet from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Monday, May 11th. Citigroup lowered their price objective on shares of NerdWallet from $13.00 to $11.00 and set a “neutral” rating for the company in a research report on Monday, May 11th. Weiss Ratings downgraded NerdWallet from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, May 21st. Finally, Morgan Stanley lowered NerdWallet from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $14.00 to $9.00 in a report on Friday, March 13th.

NerdWallet Trading Up 1.6%

NerdWallet stock opened at $9.62 on Friday. The firm has a market capitalization of $632.99 million, a P/E ratio of 10.34 and a beta of 1.23. The business has a 50-day moving average of $8.76 and a 200-day moving average of $10.47. NerdWallet has a 1 year low of $7.33 and a 1 year high of $16.24.

NerdWallet (NASDAQ:NRDS) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. NerdWallet had a net margin of 8.11% and a return on equity of 18.33%. The business had revenue of $222.20 million for the quarter, compared to the consensus estimate of $227.63 million. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. Research analysts anticipate that NerdWallet will post 0.85 EPS for the current fiscal year.

Insider Activity at NerdWallet

In other 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 transaction of $4,216,663.44. Following the sale, the insider 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 SEC, which is available through this hyperlink. Insiders sold a total of 1,961,860 shares of company stock worth $17,862,921 over the last quarter. Company insiders own 52.75% of the company’s stock.

Institutional Trading of NerdWallet

Several hedge funds have recently bought and sold shares of NRDS. AQR Capital Management LLC lifted its stake in NerdWallet by 80.6% in the first quarter. AQR Capital Management LLC now owns 40,432 shares of the company’s stock valued at $366,000 after buying an additional 18,047 shares in the last quarter. Millennium Management LLC increased its position in shares of NerdWallet by 23.9% during the first quarter. Millennium Management LLC now owns 867,113 shares of the company’s stock worth $7,847,000 after acquiring an additional 166,984 shares in the last quarter. Creative Planning acquired a new stake in shares of NerdWallet during the second quarter worth $177,000. JPMorgan Chase & Co. raised its holdings in shares of NerdWallet by 12.4% during the second quarter. JPMorgan Chase & Co. now owns 19,576 shares of the company’s stock worth $215,000 after acquiring an additional 2,161 shares during the period. Finally, Legal & General Group Plc raised its holdings in shares of NerdWallet by 7.7% during the second quarter. Legal & General Group Plc now owns 45,986 shares of the company’s stock worth $504,000 after acquiring an additional 3,300 shares during the period. 38.81% of the stock is currently owned by institutional investors and hedge funds.

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.