NerdWallet (NASDAQ:NRDS) Rating Increased to Hold at Zacks Research

NerdWallet (NASDAQ:NRDS) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other research firms have also issued reports on NRDS. Citigroup reduced their target price 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. Weiss Ratings lowered shares of NerdWallet from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, May 21st. KeyCorp reduced their target price on shares of NerdWallet from $15.00 to $13.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Morgan Stanley lowered shares of NerdWallet from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $14.00 to $9.00 in a report on Friday, March 13th. Finally, Oppenheimer reduced their target price on shares of NerdWallet from $15.00 to $12.00 and set an “outperform” rating for the company in a report on Monday, May 11th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, NerdWallet has a consensus rating of “Hold” and a consensus target price of $12.83.

NerdWallet Trading Down 4.8%

NerdWallet stock opened at $8.02 on Tuesday. The firm has a 50 day moving average of $9.72 and a 200 day moving average of $11.54. The firm has a market capitalization of $527.72 million, a price-to-earnings ratio of 8.62 and a beta of 1.25. NerdWallet has a 12-month low of $7.33 and a 12-month high of $16.24.

NerdWallet (NASDAQ:NRDS) last released 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 company had revenue of $222.20 million during the quarter, compared to analyst estimates of $227.63 million. NerdWallet had a net margin of 8.11% and a return on equity of 18.33%. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, analysts predict that NerdWallet will post 0.85 EPS for the current year.

Insiders Place Their Bets

In other NerdWallet 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 completion of the transaction, the insider directly owned 173,973 shares in the company, valued at $1,795,401.36. This represents a 29.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 52.75% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quantinno Capital Management LP boosted its stake in NerdWallet by 286.0% in the 1st quarter. Quantinno Capital Management LP now owns 72,764 shares of the company’s stock worth $755,000 after purchasing an additional 53,915 shares during the period. Renaissance Technologies LLC boosted its stake 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 purchasing an additional 202,838 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake 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 purchasing an additional 444,038 shares during the period. State of Wyoming boosted its stake in NerdWallet by 5.8% in the 1st quarter. State of Wyoming now owns 59,142 shares of the company’s stock worth $614,000 after purchasing an additional 3,263 shares during the period. Finally, First Trust Advisors LP boosted its stake in NerdWallet by 2.5% in the 1st quarter. First Trust Advisors LP now owns 112,917 shares of the company’s stock worth $1,172,000 after purchasing an additional 2,801 shares during the period. 38.81% of the stock is currently owned by institutional investors.

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.