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

Shares of NerdWallet, Inc. (NASDAQ:NRDS) have been given a consensus rating of “Moderate Buy” by the seven research firms that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $15.40.

Several research firms have recently weighed in on NRDS. Barclays boosted their price target on NerdWallet from $14.00 to $17.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Zacks Research upgraded shares of NerdWallet from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 10th. Truist Financial raised their target price on NerdWallet from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Monday, November 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NerdWallet in a report on Wednesday, October 8th. Finally, KeyCorp increased their price target on NerdWallet from $15.00 to $16.00 and gave the company an “overweight” rating in a research note on Friday, November 7th.

Insider Buying and Selling

In other news, CAO Nicholas Tatum sold 4,272 shares of NerdWallet stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $10.76, for a total value of $45,966.72. Following the completion of the transaction, the chief accounting officer directly owned 68,020 shares of the company’s stock, valued at approximately $731,895.20. This trade represents a 5.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Samuel Yount sold 15,945 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $16.04, for a total value of $255,757.80. Following the sale, the insider directly owned 358,116 shares of the company’s stock, valued at $5,744,180.64. This represents a 4.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 48,503 shares of company stock worth $715,244 in the last 90 days. Corporate insiders own 45.93% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC grew its holdings in NerdWallet by 37.1% in the second quarter. Tower Research Capital LLC TRC now owns 3,893 shares of the company’s stock worth $43,000 after purchasing an additional 1,054 shares during the period. Polymer Capital Management US LLC acquired a new stake in NerdWallet in the third quarter valued at approximately $111,000. Olympiad Research LP bought a new stake in shares of NerdWallet during the third quarter valued at approximately $119,000. Prelude Capital Management LLC acquired a new position in shares of NerdWallet during the third quarter worth approximately $119,000. Finally, Lazard Asset Management LLC acquired a new position in shares of NerdWallet during the second quarter worth approximately $129,000. Institutional investors and hedge funds own 38.81% of the company’s stock.

NerdWallet Stock Up 2.4%

NASDAQ:NRDS opened at $13.98 on Wednesday. The firm has a market capitalization of $1.02 billion, a PE ratio of 14.56 and a beta of 1.42. The stock’s 50-day simple moving average is $13.13 and its 200 day simple moving average is $11.56. NerdWallet has a twelve month low of $7.55 and a twelve month high of $16.24.

NerdWallet (NASDAQ:NRDS) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.14. The business had revenue of $215.10 million during the quarter, compared to analysts’ expectations of $193.31 million. NerdWallet had a net margin of 9.22% and a return on equity of 9.27%. NerdWallet’s quarterly revenue was up 12.4% on a year-over-year basis. On average, analysts anticipate that NerdWallet will post 0.36 EPS for the current fiscal year.

NerdWallet announced that its board has authorized a share repurchase plan on Tuesday, December 16th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to reacquire up to 5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

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.