NerdWallet (NASDAQ:NRDS) Price Target Cut to $8.50 by Analysts at Citigroup

NerdWallet (NASDAQ:NRDS) had its target price decreased by investment analysts at Citigroup from $11.00 to $8.50 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup‘s price objective would suggest a potential upside of 13.86% from the company’s previous close.

Other equities analysts have also issued reports about the stock. Truist Financial lowered their target price on shares of NerdWallet from $15.00 to $12.00 and set a “buy” rating on the stock in a research report on Friday. William Blair downgraded shares of NerdWallet from an “outperform” rating to a “market perform” rating in a research report on Friday. Finally, Weiss Ratings upgraded shares of NerdWallet from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 15th. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $10.90.

NerdWallet Stock Down 4.5%

NASDAQ:NRDS traded down $0.35 during mid-day trading on Tuesday, reaching $7.46. 826,058 shares of the stock were exchanged, compared to its average volume of 859,711. The company has a 50 day simple moving average of $9.66 and a 200-day simple moving average of $9.78. The stock has a market capitalization of $477.16 million, a P/E ratio of 9.58 and a beta of 1.20. NerdWallet has a 1 year low of $7.33 and a 1 year high of $16.24.

NerdWallet (NASDAQ:NRDS) last issued its quarterly earnings data on Thursday, November 5th. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.11). NerdWallet had a net margin of 7.56% and a return on equity of 18.07%. The firm had revenue of $239.60 million during the quarter, compared to analysts’ expectations of $251.86 million. During the same quarter in the prior year, the firm posted $0.34 EPS. NerdWallet’s quarterly revenue was up 11.4% compared to the same quarter last year. As a group, research analysts predict that NerdWallet will post 0.83 EPS for the current year.

Hedge Funds Weigh In On NerdWallet

A number of hedge funds and other institutional investors have recently made changes to their positions in NRDS. New York State Teachers Retirement System acquired a new position in NerdWallet in the 1st quarter valued at about $41,000. Nisa Investment Advisors LLC raised its stake in NerdWallet by 442.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 8,597 shares of the company’s stock valued at $75,000 after acquiring an additional 7,011 shares during the last quarter. State of Wyoming lifted its position in NerdWallet by 10.3% during the 3rd quarter. State of Wyoming now owns 29,785 shares of the company’s stock worth $262,000 after acquiring an additional 2,778 shares during the period. Ritholtz Wealth Management acquired a new stake in NerdWallet during the 3rd quarter worth approximately $378,000. Finally, Squarepoint Ops LLC acquired a new stake in NerdWallet during the 2nd quarter worth approximately $508,000. Hedge funds and other institutional investors own 38.81% of the company’s stock.

About NerdWallet

NerdWallet, Inc. is a personal finance company that operates a digital platform designed to help consumers make informed financial decisions. Its website and mobile tools provide educational content, personalized recommendations and comparison services across a range of financial products. The company covers categories including credit cards, banking, personal and student loans, mortgages, insurance, investing and small-business finance. NerdWallet generates revenue primarily through partnerships with financial institutions and other providers when users engage with or apply for recommended products.