NerdWallet, Inc. (NASDAQ:NRDS) Receives Consensus Rating of “Hold” from Brokerages

Shares of NerdWallet, Inc. (NASDAQ:NRDS) have earned an average rating of “Hold” from the eight research firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $12.8333.

A number of brokerages have issued reports on NRDS. KeyCorp reduced their price objective on shares of NerdWallet from $15.00 to $13.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Truist Financial decreased their price objective on NerdWallet from $18.00 to $15.00 and set a “buy” rating for the company in a report on Monday, May 11th. Zacks Research raised NerdWallet from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. Wall Street Zen lowered NerdWallet from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Citigroup lowered their price objective on NerdWallet from $13.00 to $11.00 and set a “neutral” rating for the company in a research report on Monday, May 11th.

Insider Buying and Selling

In other NerdWallet news, insider Samuel Yount sold 71,988 shares of the firm’s stock in a transaction on 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 transaction, the insider owned 173,973 shares of the company’s stock, valued at approximately $1,795,401.36. This trade represents a 29.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 52.75% of the company’s stock.

Institutional Trading of NerdWallet

A number of hedge funds have recently made changes to their positions in NRDS. Covestor Ltd bought a new stake in shares of NerdWallet in the 4th quarter worth approximately $34,000. New York State Teachers Retirement System bought a new stake in shares of NerdWallet in the 1st quarter worth approximately $41,000. Tower Research Capital LLC TRC boosted its position in shares of NerdWallet by 37.1% in the 2nd 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 in the last quarter. Polymer Capital Management US LLC bought a new stake in NerdWallet in the third quarter worth $111,000. Finally, Prelude Capital Management LLC purchased a new stake in shares of NerdWallet in the third quarter worth $119,000. 38.81% of the stock is owned by institutional investors.

NerdWallet Trading Up 2.8%

Shares of NerdWallet stock opened at $8.20 on Wednesday. The company’s fifty day simple moving average is $9.54 and its two-hundred day simple moving average is $11.38. The company has a market cap of $539.56 million, a P/E ratio of 8.82 and a beta of 1.25. NerdWallet has a 12-month low of $7.33 and a 12-month high of $16.24.

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

NerdWallet Company Profile

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.