NerdWallet, Inc. (NASDAQ:NRDS) Given Average Recommendation of “Hold” by Analysts

NerdWallet, Inc. (NASDAQ:NRDS) has been given a consensus recommendation of “Hold” by the eight research firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $12.8333.

Several analysts have issued reports on NRDS shares. Oppenheimer dropped their target price on NerdWallet from $15.00 to $12.00 and set an “outperform” rating on the stock in a research report on Monday, May 11th. Wall Street Zen lowered NerdWallet from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. KeyCorp decreased their price objective on NerdWallet from $15.00 to $13.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Citigroup dropped their price objective on NerdWallet from $13.00 to $11.00 and set a “neutral” rating on the stock in a research report on Monday, May 11th. Finally, Truist Financial reduced their target price on shares of NerdWallet from $18.00 to $15.00 and set a “buy” rating for the company in a report on Monday, May 11th.

Insider Transactions at NerdWallet

In other NerdWallet news, major shareholder Topline Capital Partners, Lp sold 919,153 shares of the firm’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $8.95, for a total value of $8,226,419.35. Following the completion of the sale, the insider owned 4,331,992 shares of the company’s stock, valued at approximately $38,771,328.40. This trade represents a 17.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 1,961,860 shares of company stock valued at $17,862,921 over the last 90 days. 52.75% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of NRDS. Tudor Investment Corp ET AL acquired a new stake in NerdWallet during the 3rd quarter valued at approximately $2,812,000. UBS Group AG boosted its stake in shares of NerdWallet by 52.2% in the fourth quarter. UBS Group AG now owns 489,591 shares of the company’s stock worth $6,634,000 after buying an additional 167,954 shares during the last quarter. OP Asset Management Ltd acquired a new stake in NerdWallet during the first quarter worth about $6,957,000. JPMorgan Chase & Co. grew its holdings in NerdWallet by 400.7% during the third quarter. JPMorgan Chase & Co. now owns 98,023 shares of the company’s stock worth $1,055,000 after acquiring an additional 78,447 shares during the period. Finally, Aquatic Capital Management LLC purchased a new position in NerdWallet during the third quarter valued at approximately $256,000. 38.81% of the stock is owned by institutional investors and hedge funds.

NerdWallet Stock Performance

NerdWallet stock remained flat at $9.47 during midday trading on Friday. 611,860 shares of the company’s stock traded hands, compared to its average volume of 750,781. The firm has a market cap of $623.13 million, a P/E ratio of 10.18 and a beta of 1.23. The business’s 50 day moving average price is $8.87 and its 200-day moving average price is $10.63. NerdWallet has a one year low of $7.33 and a one year high of $16.24.

NerdWallet (NASDAQ:NRDS) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.04. The firm had revenue of $222.20 million during the quarter, compared to analysts’ expectations of $227.63 million. NerdWallet had a net margin of 8.11% and a return on equity of 18.33%. The company’s revenue was up 6.2% compared to the same quarter last year. As a group, sell-side analysts expect that NerdWallet will post 0.85 earnings per share for the current 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.