NerdWallet (NASDAQ:NRDS) Stock Price Up 5.1% – Here’s Why

NerdWallet, Inc. (NASDAQ:NRDS) shares rose 5.1% during trading on Thursday. The company traded as high as $9.53 and last traded at $9.5540. 402,288 shares were traded during mid-day trading, a decline of 52% from the average daily volume of 846,752 shares. The stock had previously closed at $9.09.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of NerdWallet in a report on Tuesday, August 18th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, NerdWallet presently has an average rating of “Hold” and a consensus target price of $12.83.

NerdWallet Stock Performance

The firm has a market cap of $611.39 million, a P/E ratio of 10.76 and a beta of 1.25. The company’s 50 day moving average is $9.37 and its 200 day moving average is $9.38.

NerdWallet (NASDAQ:NRDS) last issued its earnings results on Thursday, August 6th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). NerdWallet had a return on equity of 18.07% and a net margin of 7.56%.The firm had revenue of $197.30 million during the quarter, compared to analyst estimates of $195.30 million. During the same period in the previous year, the company earned $0.11 EPS. NerdWallet’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, equities research analysts anticipate that NerdWallet, Inc. will post 0.88 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. OP Asset Management Ltd bought a new position in NerdWallet in the first quarter worth approximately $6,957,000. 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. Principal Financial Group Inc. purchased a new position in NerdWallet during the first quarter valued at $2,903,000. Renaissance Technologies LLC lifted its position in shares of NerdWallet by 25.4% in the first quarter. Renaissance Technologies LLC now owns 1,002,275 shares of the company’s stock worth $10,404,000 after buying an additional 202,838 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of NerdWallet by 13.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,322,848 shares of the company’s stock valued at $13,730,000 after acquiring an additional 153,790 shares during the last quarter. Institutional investors own 38.81% of the company’s stock.

NerdWallet Company Profile

NerdWallet, Inc is a personal finance company that helps consumers make informed decisions about financial products and services. Its platform combines financial education, research, comparison tools and a marketplace that connects users with providers.

The company covers a range of personal finance categories, including credit cards, banking, personal and student loans, mortgages, insurance, investing and financial planning. NerdWallet also provides resources for small-business owners and publishes editorial content, reviews and calculators designed to help users evaluate their options.

Founded in 2009 by Tim Chen and Jacob Gibson, NerdWallet is headquartered in San Francisco, California.