NerdWallet, Inc. (NASDAQ:NRDS) Receives $16.50 Average Price Target from Brokerages

NerdWallet, Inc. (NASDAQ:NRDS) has been given a consensus rating of “Moderate Buy” by the six ratings firms that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $16.50.

A number of brokerages recently weighed in on NRDS. KeyCorp raised their price objective on NerdWallet from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, February 12th. Barclays raised their price objective on NerdWallet from $16.00 to $18.00 and gave the company an “overweight” rating in a report on Thursday, February 15th. Citigroup raised their price objective on NerdWallet from $11.00 to $16.00 and gave the company a “neutral” rating in a report on Friday, January 12th. Finally, Truist Financial reduced their price target on NerdWallet from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, February 15th.

NerdWallet Stock Down 4.7 %

NASDAQ:NRDS opened at $12.89 on Wednesday. The stock has a market cap of $992.66 million, a P/E ratio of -81.74 and a beta of 1.39. NerdWallet has a twelve month low of $6.38 and a twelve month high of $17.30. The business’s 50-day moving average price is $15.09 and its two-hundred day moving average price is $13.49.

NerdWallet (NASDAQ:NRDS) last announced its quarterly earnings data on Thursday, April 25th. The company reported $0.01 earnings per share for the quarter. The company had revenue of $161.90 million for the quarter, compared to analysts’ expectations of $156.95 million. NerdWallet had a negative return on equity of 3.24% and a negative net margin of 1.97%. NerdWallet’s revenue for the quarter was down 4.5% compared to the same quarter last year. During the same period last year, the firm posted $0.02 EPS. On average, equities research analysts expect that NerdWallet will post 0.22 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Samuel Yount sold 6,309 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $16.16, for a total transaction of $101,953.44. Following the transaction, the vice president now directly owns 2,350,242 shares in the company, valued at approximately $37,979,910.72. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 45.93% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NerdWallet

A number of large investors have recently made changes to their positions in NRDS. FMR LLC grew its position in shares of NerdWallet by 88.7% in the 3rd quarter. FMR LLC now owns 3,486,387 shares of the company’s stock worth $30,994,000 after buying an additional 1,638,515 shares during the last quarter. Brandywine Global Investment Management LLC grew its position in shares of NerdWallet by 23.5% in the 3rd quarter. Brandywine Global Investment Management LLC now owns 1,228,046 shares of the company’s stock worth $10,917,000 after buying an additional 233,975 shares during the last quarter. Azora Capital LP grew its position in shares of NerdWallet by 23.7% in the 4th quarter. Azora Capital LP now owns 1,054,105 shares of the company’s stock worth $15,516,000 after buying an additional 202,149 shares during the last quarter. Vanguard Group Inc. grew its position in shares of NerdWallet by 5.6% in the 3rd quarter. Vanguard Group Inc. now owns 3,526,688 shares of the company’s stock worth $31,352,000 after buying an additional 187,422 shares during the last quarter. Finally, G2 Investment Partners Management LLC bought a new stake in shares of NerdWallet in the 4th quarter worth approximately $2,463,000. 38.81% of the stock is currently owned by institutional investors.

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.