NerdWallet (NASDAQ:NRDS) Rating Lowered to Strong Sell at Zacks Research

NerdWallet (NASDAQ:NRDS) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other analysts have also recently weighed in on NRDS. Wall Street Zen cut shares of NerdWallet from a “strong-buy” rating to a “buy” rating in a report on Saturday. Morgan Stanley cut shares of NerdWallet from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $14.00 to $9.00 in a report on Friday, March 13th. Truist Financial dropped their target price on shares of NerdWallet from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Finally, Oppenheimer dropped their target price on shares of NerdWallet from $18.00 to $15.00 and set an “outperform” rating on the stock in a report on Wednesday, March 4th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, NerdWallet currently has a consensus rating of “Hold” and a consensus price target of $15.00.

NerdWallet Stock Performance

NRDS opened at $10.89 on Monday. The company has a 50-day moving average of $10.57 and a 200-day moving average of $12.10. The company has a market capitalization of $727.34 million, a P/E ratio of 17.02 and a beta of 1.34. NerdWallet has a 1-year low of $8.34 and a 1-year high of $16.24.

NerdWallet (NASDAQ:NRDS) last released its earnings results on Wednesday, February 25th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.02. The company had revenue of $225.40 million during the quarter, compared to the consensus estimate of $211.37 million. NerdWallet had a net margin of 5.82% and a return on equity of 12.66%. The company’s revenue was up 22.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.51 EPS. As a group, sell-side analysts expect that NerdWallet will post 0.88 earnings per share for the current fiscal year.

Insider Transactions at NerdWallet

In related news, CAO Nicholas Tatum sold 10,151 shares of the stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $11.45, for a total value of $116,228.95. Following the sale, the chief accounting officer owned 47,202 shares of the company’s stock, valued at $540,462.90. This trade represents a 17.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Samuel Yount sold 71,988 shares of the stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $10.32, for a total transaction of $742,916.16. Following the completion of the sale, the insider directly owned 173,973 shares in the company, valued at approximately $1,795,401.36. This trade represents a 29.27% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 86,043 shares of company stock worth $901,317. Corporate insiders own 52.75% of the company’s stock.

Institutional Trading of NerdWallet

Large investors have recently modified their holdings of the company. Tudor Investment Corp ET AL acquired a new stake in shares of NerdWallet in the 3rd quarter worth about $2,812,000. Y Intercept Hong Kong Ltd increased its holdings in shares of NerdWallet by 44.0% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 178,894 shares of the company’s stock worth $1,925,000 after acquiring an additional 54,626 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of NerdWallet by 400.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 98,023 shares of the company’s stock worth $1,055,000 after acquiring an additional 78,447 shares during the period. Covestor Ltd acquired a new stake in shares of NerdWallet in the 4th quarter worth about $34,000. Finally, Swiss Life Asset Management Ltd acquired a new stake in shares of NerdWallet in the 4th quarter worth about $150,000. Institutional investors and hedge funds own 38.81% of the company’s stock.

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.