NerdWallet (NASDAQ:NRDS) Stock Price Target Cut by Truist Financial

NerdWallet (NASDAQ:NRDS) had its price objective lowered by equities researchers at Truist Financial from $15.00 to $12.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial‘s target price would indicate a potential upside of 48.79% from the stock’s current price.

NRDS has been the subject of a number of other reports. William Blair cut shares of NerdWallet from an “outperform” rating to a “market perform” rating in a research note on Friday. Weiss Ratings upgraded shares of NerdWallet from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 15th. Four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, NerdWallet currently has a consensus rating of “Hold” and an average target price of $12.33.

NerdWallet Stock Down 29.4%

NRDS traded down $3.37 during trading on Friday, reaching $8.06. The company had a trading volume of 1,658,669 shares, compared to its average volume of 848,838. The stock has a market cap of $515.54 million, a P/E ratio of 9.05 and a beta of 1.20. The business has a 50 day simple moving average of $9.74 and a 200-day simple moving average of $9.83. NerdWallet has a 52 week low of $7.33 and a 52 week high of $16.24.

NerdWallet (NASDAQ:NRDS) last posted its quarterly earnings data on Thursday, November 5th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.11). NerdWallet had a return on equity of 18.07% and a net margin of 7.56%. The firm had revenue of $239.60 million for the quarter, compared to analysts’ expectations of $251.86 million. During the same period in the previous year, the firm earned $0.34 earnings per share. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. As a group, equities research analysts expect that NerdWallet will post 0.88 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. New York State Teachers Retirement System bought a new stake in NerdWallet during the 1st quarter valued at about $41,000. Nisa Investment Advisors LLC boosted its position in NerdWallet by 442.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 8,597 shares of the company’s stock valued at $75,000 after buying an additional 7,011 shares during the period. State of Wyoming grew its stake in NerdWallet by 10.3% in the 3rd quarter. State of Wyoming now owns 29,785 shares of the company’s stock worth $262,000 after acquiring an additional 2,778 shares in the last quarter. Ritholtz Wealth Management bought a new position in NerdWallet in the 3rd quarter worth about $378,000. Finally, Squarepoint Ops LLC bought a new position in NerdWallet in the 2nd quarter worth about $508,000. Hedge funds and other institutional investors own 38.81% of the company’s stock.

NerdWallet News Summary

Here are the key news stories impacting NerdWallet this week:

• Positive Sentiment: Third-quarter revenue increased 11.4% year over year to $239.6 million, indicating continued top-line growth. NerdWallet Reports Third Quarter Results
• Negative Sentiment: Third-quarter adjusted earnings were $0.23 per share, below the $0.34–$0.35 analyst estimates and down from $0.34 a year earlier. Revenue of $239.6 million also missed expectations of about $251.9 million. NerdWallet Misses Q3 Earnings and Revenue Estimates
• Negative Sentiment: NerdWallet forecast fourth-quarter revenue of $191 million to $203 million, substantially below the $241 million consensus estimate, signaling a weaker near-term revenue outlook.
• Negative Sentiment: William Blair downgraded NRDS from Outperform to Market Perform, adding to concerns following the results and outlook. William Blair Downgrades NerdWallet

NerdWallet Company Profile

NerdWallet, Inc is a personal finance company that operates a digital platform designed to help consumers make informed financial decisions. Its website and mobile tools provide educational content, personalized recommendations and comparison services across a range of financial products.

The company covers categories including credit cards, banking, personal and student loans, mortgages, insurance, investing and small-business finance. NerdWallet generates revenue primarily through partnerships with financial institutions and other providers when users engage with or apply for recommended products.

Founded in 2009 by Tim Chen and Jacob Gibson, NerdWallet is headquartered in San Francisco and serves consumers primarily in the United States.