NerdWallet, Inc. (NASDAQ:NRDS) Receives $12.83 Average Price Target from Brokerages

NerdWallet, Inc. (NASDAQ:NRDS) has received an average recommendation of “Hold” from the eight analysts that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $12.8333.

Several research firms recently issued reports on NRDS. Oppenheimer reduced 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. Wall Street Zen lowered NerdWallet from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Truist Financial cut their target price on shares of NerdWallet from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, May 11th. KeyCorp decreased their target price on shares of NerdWallet from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Finally, Citigroup lowered their price target on shares of NerdWallet from $13.00 to $11.00 and set a “neutral” rating for the company in a report on Monday, May 11th.

NerdWallet Price Performance

NerdWallet stock traded down $0.15 during mid-day trading on Friday, hitting $9.47. The company’s stock had a trading volume of 402,995 shares, compared to its average volume of 673,846. The stock has a market cap of $623.13 million, a price-to-earnings ratio of 10.18 and a beta of 1.23. The business has a 50 day moving average price of $8.74 and a 200-day moving average price of $10.46. NerdWallet has a 12 month low of $7.33 and a 12 month high of $16.24.

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

Insider Activity

In other news, major shareholder Topline Capital Partners, Lp sold 919,153 shares of the company’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $8.95, for a total transaction of $8,226,419.35. Following the completion of the transaction, the insider directly owned 4,331,992 shares of the company’s stock, valued at approximately $38,771,328.40. This represents a 17.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 1,961,860 shares of company stock valued at $17,862,921 in the last 90 days. 52.75% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC lifted its holdings in NerdWallet by 80.6% in the 1st quarter. AQR Capital Management LLC now owns 40,432 shares of the company’s stock worth $366,000 after buying an additional 18,047 shares during the period. Millennium Management LLC increased its stake in shares of NerdWallet by 23.9% during the first quarter. Millennium Management LLC now owns 867,113 shares of the company’s stock valued at $7,847,000 after buying an additional 166,984 shares during the period. Creative Planning bought a new position in shares of NerdWallet during the second quarter valued at approximately $177,000. JPMorgan Chase & Co. raised its holdings in shares of NerdWallet by 12.4% during the second quarter. JPMorgan Chase & Co. now owns 19,576 shares of the company’s stock valued at $215,000 after acquiring an additional 2,161 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in NerdWallet by 7.7% in the second quarter. Legal & General Group Plc now owns 45,986 shares of the company’s stock worth $504,000 after acquiring an additional 3,300 shares during the period. Hedge funds and other institutional investors own 38.81% of the company’s stock.

NerdWallet Company Profile

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.