NerdWallet (NASDAQ:NRDS) Stock Moved Down to Market Perform by Oppenheimer

Oppenheimer cut shares of NerdWallet (NASDAQ:NRDS) from an outperform rating to a market perform rating in a report published on Friday, Marketbeat.com reports.

A number of other equities analysts have also weighed in on NRDS. William Blair lowered shares of NerdWallet from an “outperform” rating to a “market perform” rating in a research report on Friday, November 6th. Citigroup dropped their price objective on shares of NerdWallet from $11.00 to $8.50 and set a “neutral” rating for the company in a research note on Tuesday, November 10th. Weiss Ratings upgraded shares of NerdWallet from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 15th. Finally, Truist Financial cut their price objective on shares of NerdWallet from $15.00 to $12.00 and set a “buy” rating for the company in a report on Friday, November 6th. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $10.90.

NerdWallet Price Performance

NRDS stock traded up $0.15 during trading on Friday, hitting $7.46. The stock had a trading volume of 1,000,683 shares, compared to its average volume of 1,046,116. NerdWallet has a twelve month low of $7.25 and a twelve month high of $16.24. The company’s 50-day moving average price is $9.47 and its two-hundred day moving average price is $9.67. The stock has a market capitalization of $472.96 million, a P/E ratio of 9.56 and a beta of 1.20.

NerdWallet (NASDAQ:NRDS) last announced its earnings results on Thursday, November 5th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.11). The firm had revenue of $239.60 million for the quarter, compared to analyst estimates of $251.86 million. NerdWallet had a net margin of 6.06% and a return on equity of 15.56%. NerdWallet’s revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.34 EPS. As a group, sell-side analysts expect that NerdWallet will post 0.74 EPS for the current fiscal year.

Institutional Trading of NerdWallet

A number of hedge funds and other institutional investors have recently modified their holdings of NRDS. Dimensional Fund Advisors LP grew its holdings in shares of NerdWallet by 13.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,322,848 shares of the company’s stock valued at $13,730,000 after purchasing an additional 153,790 shares during the period. Principal Financial Group Inc. acquired a new stake in NerdWallet during the first quarter worth about $2,903,000. Bank of New York Mellon Corp acquired a new stake in NerdWallet during the second quarter worth about $1,016,000. Renaissance Technologies LLC raised its stake in NerdWallet by 25.4% during the first quarter. Renaissance Technologies LLC now owns 1,002,275 shares of the company’s stock worth $10,404,000 after purchasing an additional 202,838 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its stake in NerdWallet by 32.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,808,988 shares of the company’s stock worth $18,777,000 after purchasing an additional 444,038 shares during the period. 38.81% of the stock is owned by institutional investors and hedge funds.

NerdWallet Company Profile

NerdWallet, Inc. is a personal finance company that operates a digital platform to help consumers make financial decisions. Its website and mobile app provide educational content, comparison tools and recommendations across products such as credit cards, banking, mortgages, personal loans, insurance and investing services. The company was founded in 2009 by Tim Chen and offers services primarily in the United States, as well as in Canada and the United Kingdom. NerdWallet also serves small and midsize businesses with financial information and product recommendations.