NerdWallet (NASDAQ:NRDS) Posts Quarterly Earnings Results

NerdWallet (NASDAQ:NRDS) issued its quarterly earnings results on Thursday. The company reported $0.01 EPS for the quarter, Briefing.com reports. The business had revenue of $161.90 million during the quarter, compared to the consensus estimate of $156.95 million. NerdWallet had a negative net margin of 1.97% and a negative return on equity of 3.24%. The firm’s quarterly revenue was down 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.02 EPS. NerdWallet updated its Q2 2024 guidance to EPS.

NerdWallet Stock Performance

Shares of NerdWallet stock traded down $0.25 during midday trading on Friday, reaching $13.27. 643,226 shares of the company’s stock traded hands, compared to its average volume of 339,670. The company has a market cap of $1.02 billion, a price-to-earnings ratio of -81.74 and a beta of 1.39. The company’s 50 day simple moving average is $15.09 and its 200 day simple moving average is $13.49. NerdWallet has a 52 week low of $6.38 and a 52 week high of $17.30.

Wall Street Analysts Forecast Growth

NRDS has been the subject of several research analyst reports. Citigroup upped their price target on shares of NerdWallet from $11.00 to $16.00 and gave the company a “neutral” rating in a research report on Friday, January 12th. Barclays increased their target price on shares of NerdWallet from $16.00 to $18.00 and gave the stock an “overweight” rating in a research report on Thursday, February 15th. KeyCorp increased their target price on shares of NerdWallet from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, February 12th. Finally, Truist Financial cut their target price on shares of NerdWallet from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, February 15th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $16.50.

Insider Activity

In other news, VP Samuel Yount sold 6,309 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $16.16, for a total transaction of $101,953.44. Following the transaction, the vice president now owns 2,350,242 shares in the company, valued at approximately $37,979,910.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 45.93% of the stock is owned by insiders.

NerdWallet Company Profile

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.