NerdWallet, Inc. (NASDAQ:NRDS) Given Average Recommendation of “Moderate Buy” by Brokerages

NerdWallet, Inc. (NASDAQ:NRDS) has earned a consensus rating of “Moderate Buy” from the six research firms that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $17.00.

NRDS has been the subject of several research reports. KeyCorp boosted their price target on shares of NerdWallet from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Morgan Stanley lifted their price objective on NerdWallet from $14.00 to $15.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Truist Financial reduced their target price on shares of NerdWallet from $19.00 to $16.00 and set a “buy” rating on the stock in a report on Monday, August 5th. Oppenheimer reduced their price objective on shares of NerdWallet from $20.00 to $18.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. Finally, Barclays upped their price target on NerdWallet from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th.

Insider Buying and Selling at NerdWallet

In other news, VP Samuel Yount sold 5,000 shares of NerdWallet stock in a transaction on Monday, August 19th. The shares were sold at an average price of $12.01, for a total value of $60,050.00. Following the transaction, the vice president now directly owns 2,329,471 shares of the company’s stock, valued at $27,976,946.71. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, major shareholder Topline Capital Partners, Lp bought 412,055 shares of the stock in a transaction on Tuesday, October 22nd. The shares were bought at an average cost of $11.35 per share, for a total transaction of $4,676,824.25. Following the purchase, the insider now owns 5,251,145 shares of the company’s stock, valued at $59,600,495.75. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Samuel Yount sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $12.01, for a total value of $60,050.00. Following the sale, the vice president now owns 2,329,471 shares of the company’s stock, valued at $27,976,946.71. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 45.93% of the stock is owned by company insiders.

Hedge Funds Weigh In On NerdWallet

Institutional investors have recently bought and sold shares of the company. Quarry LP acquired a new position in shares of NerdWallet during the second quarter worth about $31,000. nVerses Capital LLC acquired a new position in NerdWallet during the 3rd quarter worth approximately $62,000. US Bancorp DE purchased a new position in shares of NerdWallet during the 3rd quarter worth approximately $86,000. Intech Investment Management LLC acquired a new stake in shares of NerdWallet in the 3rd quarter valued at approximately $135,000. Finally, TNF LLC acquired a new stake in shares of NerdWallet in the 3rd quarter valued at approximately $178,000. 38.81% of the stock is owned by institutional investors and hedge funds.

NerdWallet Stock Down 1.3 %

NRDS opened at $15.61 on Friday. The firm has a market cap of $1.15 billion, a P/E ratio of -111.49 and a beta of 1.39. NerdWallet has a 52 week low of $10.10 and a 52 week high of $17.30. The business has a fifty day simple moving average of $12.80 and a 200-day simple moving average of $13.33.

NerdWallet (NASDAQ:NRDS) last released its earnings results on Tuesday, October 29th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.06. The company had revenue of $191.30 million during the quarter, compared to the consensus estimate of $168.25 million. NerdWallet had a negative return on equity of 2.90% and a negative net margin of 1.65%. NerdWallet’s revenue was up 25.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.01) EPS. Sell-side analysts expect that NerdWallet will post -0.11 earnings per share for the current year.

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.