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

NerdWallet, Inc. (NASDAQ:NRDS) has been assigned an average rating of “Hold” from the eight research firms that are presently covering the firm, Marketbeat.com 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 twelve-month target price among analysts that have updated their coverage on the stock in the last year is $12.8333.

Several equities analysts have issued reports on the stock. Weiss Ratings cut shares of NerdWallet from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, May 21st. Wall Street Zen downgraded NerdWallet from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Zacks Research raised NerdWallet from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. Truist Financial cut their target price on NerdWallet from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, May 11th. Finally, KeyCorp reduced their price target on NerdWallet from $15.00 to $13.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th.

Insider Buying and Selling

In related news, insider Samuel Yount sold 71,988 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $10.32, for a total value of $742,916.16. Following the sale, the insider directly owned 173,973 shares in the company, valued at $1,795,401.36. This represents a 29.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 52.75% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Tudor Investment Corp ET AL bought a new stake in shares of NerdWallet in the 3rd quarter valued at $2,812,000. UBS Group AG boosted its stake in NerdWallet by 52.2% during the fourth quarter. UBS Group AG now owns 489,591 shares of the company’s stock worth $6,634,000 after acquiring an additional 167,954 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in NerdWallet by 400.7% in the third quarter. JPMorgan Chase & Co. now owns 98,023 shares of the company’s stock worth $1,055,000 after purchasing an additional 78,447 shares during the period. Covestor Ltd acquired a new stake in NerdWallet in the fourth quarter worth $34,000. Finally, Swiss Life Asset Management Ltd bought a new stake in NerdWallet in the fourth quarter valued at $150,000. Institutional investors and hedge funds own 38.81% of the company’s stock.

NerdWallet Price Performance

NASDAQ NRDS opened at $8.50 on Wednesday. NerdWallet has a twelve month low of $7.33 and a twelve month high of $16.24. The business’s fifty day moving average is $9.43 and its 200 day moving average is $11.27. The company has a market cap of $559.30 million, a price-to-earnings ratio of 9.14 and a beta of 1.25.

NerdWallet (NASDAQ:NRDS) last posted its earnings results on Wednesday, May 6th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.25 by $0.04. The firm had revenue of $222.20 million during 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%.NerdWallet’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, research analysts anticipate that NerdWallet will post 0.85 earnings per share for the current fiscal year.

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.