NerdWallet (NASDAQ:NRDS) Price Target Cut to $17.00 by Analysts at Truist Financial

NerdWallet (NASDAQ:NRDS) had its target price reduced by Truist Financial from $19.00 to $17.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts have also recently weighed in on NRDS. KeyCorp reduced their price objective on shares of NerdWallet from $18.00 to $14.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. Citigroup reduced their price objective on shares of NerdWallet from $14.00 to $11.00 and set a “neutral” rating for the company in a research note on Tuesday, April 29th. Finally, Barclays reduced their price objective on shares of NerdWallet from $17.00 to $14.00 and set an “overweight” rating for the company in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $13.60.

NerdWallet Stock Up 3.2%

NASDAQ NRDS opened at $9.47 on Monday. The stock has a market capitalization of $705.61 million, a PE ratio of 15.27 and a beta of 1.45. The company has a 50 day moving average price of $10.81 and a two-hundred day moving average price of $10.58. NerdWallet has a 12-month low of $7.55 and a 12-month high of $16.45.

NerdWallet (NASDAQ:NRDS) last posted its earnings results on Thursday, August 7th. The company reported $0.11 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.11. The firm had revenue of $186.90 million during the quarter, compared to analysts’ expectations of $195.32 million. NerdWallet had a net margin of 6.11% and a return on equity of 2.61%. The company’s revenue was up 24.1% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.12) earnings per share. As a group, equities analysts anticipate that NerdWallet will post 0.36 EPS for the current year.

Hedge Funds Weigh In On NerdWallet

A number of institutional investors and hedge funds have recently bought and sold shares of NRDS. Topline Capital Management LLC bought a new position in NerdWallet during the fourth quarter worth $69,840,000. Alta Fox Capital Management LLC bought a new position in NerdWallet during the fourth quarter worth $10,761,000. Millennium Management LLC increased its position in NerdWallet by 325.8% during the fourth quarter. Millennium Management LLC now owns 700,129 shares of the company’s stock worth $9,312,000 after acquiring an additional 535,701 shares during the period. Nuveen LLC bought a new position in NerdWallet during the first quarter worth $3,661,000. Finally, Marshall Wace LLP bought a new position in NerdWallet during the fourth quarter worth $3,477,000. Institutional investors own 38.81% of the company’s stock.

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.