NerdWallet (NASDAQ:NRDS) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of NerdWallet (NASDAQ:NRDS) from a strong sell rating to a hold rating in a research note published on Tuesday,Zacks.com reports.

A number of other equities research analysts also recently issued reports on the company. KeyCorp lowered their price objective on NerdWallet from $15.00 to $13.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Oppenheimer lowered their price target on NerdWallet from $15.00 to $12.00 and set an “outperform” rating on the stock in a research report on Monday, May 11th. Morgan Stanley downgraded NerdWallet from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $14.00 to $9.00 in a research report on Friday, March 13th. Truist Financial reduced their price objective on NerdWallet from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Finally, Citigroup reduced their price objective on NerdWallet from $13.00 to $11.00 and set a “neutral” rating on the stock in a research note on Monday, May 11th. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, NerdWallet has an average rating of “Hold” and an average price target of $12.83.

NerdWallet Price Performance

NASDAQ:NRDS opened at $8.02 on Tuesday. The company has a market cap of $527.72 million, a P/E ratio of 8.62 and a beta of 1.25. The stock’s fifty day moving average price is $9.72 and its two-hundred day moving average price is $11.54. NerdWallet has a 1 year low of $7.33 and a 1 year high of $16.24.

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

Insiders Place Their Bets

In other NerdWallet news, insider Samuel Yount sold 71,988 shares of the business’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $10.32, for a total transaction of $742,916.16. Following the completion of the sale, the insider directly owned 173,973 shares in the company, valued at approximately $1,795,401.36. The trade was a 29.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 52.75% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NerdWallet

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of NerdWallet by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 3,994,180 shares of the company’s stock valued at $42,977,000 after acquiring an additional 48,205 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in NerdWallet by 32.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,808,988 shares of the company’s stock worth $18,777,000 after buying an additional 444,038 shares during the period. Dimensional Fund Advisors LP boosted its holdings in NerdWallet by 13.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,322,848 shares of the company’s stock worth $13,730,000 after buying an additional 153,790 shares during the period. Renaissance Technologies LLC boosted its holdings in NerdWallet by 25.4% in the 1st quarter. Renaissance Technologies LLC now owns 1,002,275 shares of the company’s stock worth $10,404,000 after buying an additional 202,838 shares during the period. Finally, State Street Corp boosted its holdings in NerdWallet by 3.2% in the 4th quarter. State Street Corp now owns 922,142 shares of the company’s stock worth $12,495,000 after buying an additional 28,844 shares during the period. Institutional investors own 38.81% of the company’s stock.

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.