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

NerdWallet, Inc. (NASDAQ:NRDS) has earned a consensus rating of “Hold” from the eight analysts that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $12.8333.

Several brokerages recently weighed in on NRDS. Citigroup cut their price target on NerdWallet from $13.00 to $11.00 and set a “neutral” rating for the company in a research note on Monday, May 11th. Weiss Ratings downgraded NerdWallet from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, May 21st. Morgan Stanley lowered NerdWallet from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $14.00 to $9.00 in a report on Friday, March 13th. Truist Financial cut their price objective on NerdWallet from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Monday, May 11th. Finally, Oppenheimer reduced their target price on NerdWallet from $15.00 to $12.00 and set an “outperform” rating for the company in a research note on Monday, May 11th.

Insider Transactions at NerdWallet

In other news, major shareholder Topline Capital Partners, Lp sold 919,153 shares of NerdWallet stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $8.95, for a total value of $8,226,419.35. Following the sale, the insider owned 4,331,992 shares in the company, valued at $38,771,328.40. This trade represents a 17.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold 1,961,860 shares of company stock worth $17,862,921 over the last quarter. Company insiders own 52.75% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Tudor Investment Corp ET AL acquired a new stake in NerdWallet in the 3rd quarter worth about $2,812,000. UBS Group AG raised its position in shares of NerdWallet by 52.2% in the fourth quarter. UBS Group AG now owns 489,591 shares of the company’s stock valued at $6,634,000 after buying an additional 167,954 shares during the last quarter. OP Asset Management Ltd purchased a new position in shares of NerdWallet in the first quarter worth about $6,957,000. JPMorgan Chase & Co. lifted its stake in shares of NerdWallet by 400.7% in the third quarter. JPMorgan Chase & Co. now owns 98,023 shares of the company’s stock worth $1,055,000 after buying an additional 78,447 shares in the last quarter. Finally, New York State Teachers Retirement System purchased a new position in shares of NerdWallet in the first quarter worth about $41,000. 38.81% of the stock is owned by hedge funds and other institutional investors.

NerdWallet Price Performance

NASDAQ NRDS remained flat at $9.47 during mid-day trading on Friday. 611,860 shares of the company were exchanged, compared to its average volume of 750,781. The business has a 50-day simple moving average of $8.87 and a 200 day simple moving average of $10.63. NerdWallet has a 12-month low of $7.33 and a 12-month high of $16.24. The stock has a market cap of $623.13 million, a P/E ratio of 10.18 and a beta of 1.23.

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

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.